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Apple Revenues Up, Gross Margin Down

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[Techtaffy Newsdesk]

Apple released financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The company posted quarterly revenues of $54.5 billion and a quarterly net profit of $13.1 billion, or $13.81 per diluted share. These results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter.

Gross margin was 38.6 per cent compared to 44.7 per cent in the year-ago quarter. International sales accounted for 61 per cent of the quarter’s revenue. Average weekly revenue was $4.2 billion in the quarter compared to $3.3 billion in the year-ago quarter.

Tim Cook (CEO, Apple):  We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.

Apple sold  47.8 million iPhones in the quarter, compared to 37 million in the year-ago quarter. Apple also sold 22.9 million iPads during the quarter, compared to 15.4 million in the year-ago quarter. The company sold 4.1 million Macs, compared to 5.2 million in the year-ago quarter. Apple sold 12.7 million iPods in the quarter, compared to 15.4 million in the year-ago quarter.

Apple’s board  has declared a cash dividend of $2.65 per share of the company’s common stock. The dividend is payable on February 14, 2013, to shareholders of record as of the close of business on February 11, 2013.

Apple is providing the following guidance for its fiscal 2013 second quarter:

• revenue between $41 billion and $43 billion
• gross margin between 37.5 per cent and 38.5 per cent
• operating expenses between $3.8 billion and $3.9 billion
• other income/(expense) of $350 million
• tax rate of 26 per cent

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