On Jan. 18, Apple
- 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.
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Related Foolishness:
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- The Mac maker is already having trouble growing into its valuation.
- We spread some Apple seeds in time for Macworld.
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 check Fool.com for more of our in-depth discussion of what the numbers mean.
Dell is a Motley Fool Stock Advisor selection. Take a 30-day risk-free trial to learn about the dozens of other stocks helping David and Tom Gardner wallop the market by more than 25% each as of this writing. All you have to lose is the prospect of a richer portfolio. Microsoft is a Motley Fool Inside Value pick.
Fool contributor Tim Beyers didn'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 Fool profile . The Motley Fool has an ironclad disclosure policy .
