Apple's Shine Finally Dulls: Fool by Numbers

On Jan. 18, Apple (Nasdaq: AAPL  ) released Q1 2006 earnings for the period ended Dec. 31, 2005.

  • Not surprisingly, Apple's sales and EPS both trounced forecasts. CEO Steve Jobs had indicated as much by announcing at Macworld that his company sold more than 14 million iPods during the Christmas quarter.
  • Can you believe it? Apple's 64.7% year-over-year revenue increase is 9% lower than it was last year.
  • Hey, Steve, how about sharing some of that $8.7 billion cash hoard?
  • Maybe that would appease investors displeased by your second-quarter guidance of $4.3 billion in sales and $0.42 per share in non-GAAP earnings. Both are well below average estimates of $4.63 billion in revenue and $0.48 in per-stub net income.

(Figures in millions, except per-share data)

Income Statement Highlights

Avg. Est.

Q1 2006

Q1 2005

% Change

Sales

$5,470

$5,749

$3,490

+64.7%

Net Profit

--

$565

$295

+91.5%

EPS

$0.61

$0.65

$0.35

+85.7%



Get back to basics with a look at the income statement.

Margin Checkup

Q1 2006

Q1 2005

Change

Gross Margin

27.20%

28.54%

-1.33%

Op. Margin

13.05%

11.55%

+1.50%

Net Margin

9.83%

8.45%

+1.38%



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q1 2006

Q1 2005

% Change

Cash+ ST Invest.

$8,707

$6,448

+35.0%

Inventory

$244

$156

+56.4%

Accounts Rec.

$1,331

$865

+53.9%



Liabilities

Q1 2006 Q1 2005

% Change

Long-Term Debt

--

--

N/A

Accounts Pay.

$2,896

$1,737

+66.7%



Cash Flow Highlights

No cash flow statement provided. (Whatever.)

Find out why Fools always follow the money.

Related companies:

Related Foolishness:

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so checkFool.comfor more of our in-depth discussion of what the numbers mean.

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Fool contributorTim Beyersdidn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Foolprofile. The Motley Fool has an ironcladdisclosure policy.


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