Monday, October 18, 2010

Apple Reports Record Revenues & Net Income! (Financial Performance Charts & Commentary) *EPS $4.64* AAPL


Apple reported earnings on Monday, October 18

Apple Reports Record Revenues and Net Income!

Financial charts of Apple data and related commentary have been updated on the Apple Financial Performance page for the September calendar Q3 2010 financial results reported today by Apple. The charts are:

Apple Performance by the Quarters
Earnings per Share
Total Revenues, Operating Income, and Net Income
Gross Margin, Operating Margin, & Net Margin
Return on Assets
Total Revenues & Earnings per Share Growth

Income Statement Calendar Q3 Apple reported record total revenues of $20,343M, record net income of $4.308M, and earnings per share of $4.64 for calendar Q3 September 2010. From the prior calendar quarter Q2 2010, total revenues were up +29.6%, net income up +32.4%, and earnings per share up +32.2%. From the prior calendar year Q3 2009, these were up +66.7%, +70.1%, and +67.5%, respectively. All are incredible increases and would be legendary financial results if not for the decrease in the gross profit margin. For calendar Q3, gross, operating, and net margins were 36.9%, 26.8%, and 21.2%, respectively. For calendar Q2, these were 39.1%, 27.0%, and 20.8%, respectively. Gross margin has decreased the past 2 quarters. Cash flow from operations was an excellent $6.12 per share, but lower than the $6.29 per share reported for calendar Q4 December 2009. Cash flow per share was negatively impacted by the decreasing gross margin.

Balance Sheet Calendar Q3 Total assets increased +16.2% to a record $75.2B from the prior quarter of $64.7B. The capital to assets ratio (total stockholders' equity divided by total assets) is 64%, slightly down from previous quarters but very strong. The current ratio (current assets divided by total assets) is a very liquid 55%, about the same as the prior 2 quarters. Apple is very liquid with strong capital.

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