Apple: Nine Quarters of Results

Apple: Nine Quarters of Results
As a service to AFB members and my fellow AAPL analysts, I'm posting Apple's results for the nine most recent quarters. This post is without commentary and is to serve as a resource and reference for readers who are actively tracking the company's quarterly results.

I will be referencing this post in future Posts At Eventide entries and will be using this data in compiling my own Apple quarterly estimates and AAPL share price forecasts. The quarterly results for FY2009 are post-retrospective adjustments for the change in accounting principles applied to iPhone revenue recognition.

Robert Paul Leitao

	FQ1 2011	FQ4 2010	FQ3 2010	FQ2 2010	FQ1 2010	FQ4 2009	FQ3 2009	FQ2 2009	FQ1 2009
Net sales	26,741	20,342	15,700	13,499	15,683	12,207	9,734	9,084	11,880
Cost of sales	-16,443	-12,831	-9,564	-7,874	-9,272	-7,102	-5,751	-5,457	-7,373
Gross margin	10,298	7,511	6,136	5,625	6,411	5,105	3,983	3,627	4,507
Operating expenses:
Research and development	575	494	464	426	398	358	341	319	315
Selling, general and administrative	1,896	1,571	1,438	1,220	1,288	1,063	1,010	985	1,091
Total operating expenses	-2,471	-2,065	-1,902	-1,646	-1,686	-1,421	-1,351	-1,304	-1,406
Operating income	7,827	5,446	4,234	3,979	4,725	3,684	2,632	2,323	3,101
Other income and expense	136	14	58	50	33	45	60	63	158
Income before provision for income taxes	7,963	5,460	4,292	4,029	4,758	3,729	2,692	2,386	3,259
Provision for income taxes	-1,959	-1,153	-1,039	-955	-1,380	-1,197	-864	-766	-1,004
Net income	6,004	4,307	3,253	3,074	3,378	2,532	1,828	1,620	2,255
Earnings per common share:
Basic	$6.53	$4.71	$3.57	$3.39	$3.74	$2.82	$2.05	$1.82	$2.54
Diluted	$6.43	$4.64	$3.51	$3.33	$3.67	$2.77	$2.01	$1.79	$2.50
Shares used in computing earnings per share:
Basic	919,294	914,555	912,197	907,548	903,542	898,032	893,712	891,180	889,142
Diluted	933,154	928,825	927,361	922,878	919,783	914,374	909,160	902,993	901,494