Apple Beats Expectations Again: Fool by Numbers

Fast facts the Fool way.

On Tuesday, iEverything maker Apple (NASDAQ:AAPL) released earnings for the 2007 fiscal year ended Sept. 29.

Rick Munarriz told us in no uncertain terms that Apple would impress, and it did. Can I borrow your crystal ball, Rick?
The iPhone contributed $123 million to 2007 sales, which is a nice start but still looks tiny next to the $10.8 billion generated by the iPod/iTunes complex.
The operating cash machine is growing even faster than sales or earnings. That's like waving Harlequin garb in front of a Fool -- a signal to charge in and look for more "buy" signals.

(Figures in millions, except per-share data)

Income Statement Highlights

	FY 2007	FY 2006	Change
Sales	$24,006	$19,315	24.3%
Net Profit	$3,496	$1,989	75.8%
EPS	$3.93	$2.27	73.1%
Diluted Shares	889.3	877.5	1.3%

Get back to basics with the income statement.

Margin Checkup

	FY 2007	FY 2006	Change*
Gross Margin	34.0%	29.0%	5.0
Operating Margin	18.4%	12.7%	5.7
Net Margin	14.6%	10.3%	4.3

*Expressed in percentage points.

Margins are the earnings engine.

Balance Sheet Highlights

Assets	FY 2007	FY 2006	Change
Cash + ST Invest.	$15,386	$10,110	52.2%
Accounts Rec.	$1,637	$1,252	30.8%
Inventory	$346	$270	28.1%

Liabilities	FY 2007	FY 2006	Change
Accounts Payable	$4,970	$3,390	46.6%
Long-Term Debt	$0	$0	N/A

The balance sheet reflects the company's health.

Cash Flow Highlights

	FY 2007	FY 2006	Change
Cash From Ops.	$5,474	$2,220	146.6%

Free cash flow is a Fool's best friend. However, all we got today is his brother.

Competitive Context

	Market Cap	Trailing P/E Ratio	CAPS Rating (out of 5)
Apple	$150,882.7	43.2	***
Dell (NASDAQ:DELL)	$64,014.1	22.0	**
Hewlett-Packard (NYSE:HPQ)	$132,228.8	20.7	****
SanDisk (NASDAQ:SNDK)	$10,050.2	132.4	****
RealNetworks (NASDAQ:RNWK)	$972.0	9.4	**
Napster (NASDAQ:NAPS)	$152.0	N/A	*

I'm using the latest reported numbers from Capital IQ. Nobody is anybody without some context.

Related Foolishness:

Dell is both a Motley Fool Stock Advisor pick and a Motley Fool Inside Value recommendation. You can take either newsletter for a free 30-day spin.

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.

At the time of publication, Anders Bylund had no position in any company mentioned. Fool rules are here.

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Apple Beats Expectations Again: Fool by Numbers

NASDAQ: AAPL

Apple Inc.

Fast facts the Fool way.

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