Apple (ticker: AAPL) saw its stock fall 10% in late trading after reporting Q4 earnings results that missed consensus revenue estimates but beat EPS estimates (excluding tax gain) by $0.01. Key stats from the quarter and guidance:
(all comparisons are year over year unless stated otherwise)
- Revenue rose 56.5% to $3.678 billion below consensus estimate of $3.74 billion.
- Gross margin was 28.1% vs 27.0%
- R&D expenses rose 20.5% to $147.0 million.
- SG&A expenses rose 24.0% to $470.0 million.
- Total operating expenses rose 21.9% to $617.0 million.
- Operating income rose 226.6% to $418.0 million.
- Operating margin was 11.4% vs 5.4%.
- Net income rose 305.7% to $430.0 million.
- Net margin was 11.7% vs 4.5%.
- Diluted EPS of $0.50 vs $0.13.
- Diluted EPS of $0.38 (excluding $0.12 gain from tax benefits) above consensus estimate of $0.37.
- Cash and equivalents of $3.5 billion.
- Short-term investments of $4.8 billion.
Q1 2006 Guidance
- Revenue of $4.7 billion vs consensus estimate of $4.53 billion.
- GAAP gross margin of 27.3% (non-GAAP of 27.4%).
- GAAP operating expenses of $760 million (non-GAAP of $720 million).
- Provision for income taxes of $188 million (non-GAAP of $202 million).
- GAAP earnings per diluted share of $0.46 (non-GAAP of $0.49). Consensus estimate of $0.48.
Full press release here.