Tuesday, January 18, 2011

Apple Reports Legendary Financial Results! (Financial Charts, Review) *Record revenues & earnings; margins increase!* AAPL


Apple reported Calendar Q4 2010 financial results on Tuesday, January 18

Apple Reports Legendary Financial Results for Calendar Q4 2010!

Apple reported incredible quarterly financial results on Tuesday, January 18 after market close. Apple financial performance charts for Q4 2010 and prior quarters have been posted, along with commentary, on the Apple Financial Performance page. The charts are:
Apple Performance by the Quarters
Earnings per Share (Diluted), Cash Flow per Share
Total Revenues, Operating Income, Net Income
Gross Margin, Operating Margin, Net Margin
Return on Assets
Total Revenues and Earnings per Share Growth Rates

Income Statement Calendar Q4 Apple reported record, and legendary, total revenues of $26.7B, net income of $6.0B, and earnings per share of $6.43. These are stellar financial results! From the prior calendar quarter Q3 2010, total revenues were up +31.5%, net income up +39.4%, and earnings per share up +38.6%. From the prior calendar year Q4 2009, these were up +70.5%, +77.7%, and +75.2%, respectively. All are incredible increases, both QoQ and YoY! Margins also increased in Q4, after dipping in Q3. This was the negative aspect of Q3 financial results. Not this time! For calendar Q4, gross, operating, and net margins were 38.51%, 29.27%, and 22.45%, respectively. For calendar Q3, these were 36.93%, 26.78%, and 21.18%, respectively. Gross margin increased, after decreasing the prior 2 quarters. Cash flow from operations was a staggering $10.47 per share, another record and legendary amount.

Balance Sheet Calendar Q4 Total assets increased +15.37% to a record $86.7B from the prior quarter of $75.2B. The capital to assets ratio (total stockholders' equity divided by total assets) is 63.02%, slightly down from previous quarters but very strong. The current ratio (current assets divided by total assets) is a very liquid 50.64%, lower than previous quarters. More assets were allocated to long-term marketable securities, decreasing current assets. Apple is very liquid with strong capital. Apple has over $27B in cash, cash equivalents, and marketable securities. Add long-term marketable securities of $32.7B and Apple's cash reserves are a mind-boggling $60B!

In addition, a Bonus Chart has been included below in this post, Apple Revenues by Product. More charts have been posted on the Apple Financial Performance page.

Apple Bonus Chart!
Apple Performance by the Quarters (Revenues by Product)

Apple Revenues by Product (Chart) Below is a chart of Apple revenues by product: computers, iPods, iTunes Other, iPhone, and iPad. The December 2010 aggregate of these products is yet another Apple all-time high quarterly total revenues ($26.7B). As can be easily seen on the chart, iPhone sales literally exploded since Q3 September 2010. iPhone revenues were 39.2% of total revenues for Q4 2010. Computers comprised 20.3% of total revenues in Q4 2010. iPad is third with 17.2% of total revenues and surpassed iTunes Other and iPods in Q3 2010 in total revenues. iTunes Other is 10.5% of total Q4 2010 revenues. The now again successful iPods (as a proportion of Apple sales) increased to 12.8% in Q4 2010. The chart covers the past 9 quarters, from December 2008 through the latest quarter reported, December 2010. More charts have been posted on the Apple Financial Performance page. Recent chart data is:
Quarter, Computers, iPods, iTunes Other, iPhones, iPad
Dec09: $4.4B, $3.4B, $2.3B, $5.6B, $0
Mar10: $3.8B, $1.9B, $2.4B, $5.4B, $0
Jun10: $4.4B, $1.5B, $2.3B, $5.3B, $2.2B
Sep10: $4.9B, $1.5B, $2.4B, $8.8B, $2.8B
Dec10: $5.4B, $3.4B, $2.8B, $10.5B, $4.6B

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