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iPod sales still music to Apple ears

Steve Jobs - 'Proud' of results
Steve Jobs - 'Proud' of results

Apple has reported a 24% jump in net profits to $546m for its fourth quarter to the end of September, as sales of iPod music players and Macintosh computers gathered momentum. The profit amounted to 62 cents per share, well ahead of Wall Street forecasts of 51 cents.

Revenues surged 31.5% from the same period a year ago as  the company reported 30% growth in sales of its computers and 35% growth in iPod sales.

For the full year, profits jumped 49% to $1.99 billion on revenues of $19.3 billion, a gain of 39%.

'Selling more than 39 million iPods and 5.3 million Macs while  performing an incredibly complex architecture transition is something we are all very proud of,' said Steve Jobs, Apple's chief  executive.

Jobs referred to the switchover by Apple to Intel processors for  its key computers as well as a system allowing Macs to use the Windows XP operating system of rival Microsoft.

Peter Oppenheimer, Apple's  chief financial officer, said the company expected revenue of $6 billion to $6.2 billion and earnings per share of 70-73 cents.

Apple has acknowledged it will have to restate some of its historical earnings as a result of the probe into irregularities in  the use of stock options.