Apple reported a steep rise in profits last night in the final quarter of its fiscal year on strong sales of new iPhones and Macintosh computers, but issued a cautious outlook for the holiday season.
The California-based company reported net profits of $1.14 billion in the three months which ended on September 27, up 31% from the $904m the same time last year.
Earnings per share were $1.26, better than the $1.11 forecast by analysts. Apple reported revenue of $7.9 billion in its fiscal fourth-quarter, up from $6.22 billion during the same quarter a year ago.
It said international sales accounted for 41% of the quarter's revenue.
'Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone - we sold more phones than RIM,' maker of the Blackberry, Apple's CEO Steve Jobs said.
'We don't yet know how this economic downturn will affect Apple,' Jobs said. 'But we're armed with the strongest product line in our history, the most talented employees and the best customers in our industry,' he said. 'And $25 billion of cash safely in the bank with zero debt,' he added.
Apple said 6.89 million iPhones were sold in the quarter, up from 1.11 million the same time last year. Apple's second-generation iPhone, the iPhone 3G, hit stores during the last quarter and one million iPhone 3Gs were sold during the first weekend alone in July.
The company said it shipped 2.61 million Macintosh computers during the quarter - 21% unit growth and 17% revenue growth over the year-ago quarter.
It said it sold 11.05 million iPod portable music players during the quarter, representing 8% unit growth and 3% revenue growth over the year-ago quarter.
But Apple's chief financial officer Peter Oppenheimer issued a traditionally cautious forecast for the upcoming quarter. 'Looking ahead, visibility is low and forecasting is challenging, and as a result we are going to be prudent in predicting the December quarter,' he said.
'We are providing a wide range for our guidance, targeting revenue of $9 billion to $10 billion and earnings per diluted share between $1.06-1.35,' Oppenheimer said.
