Apple Q1 2004 Financials Up

Apple announced its first quarter 2004 results: it posted a profit of $63 million, with total revenues of $2.006 billion, a four-year high, and up 36% from the same quarter of 2003. The company shipped 829,000 Macintosh computers of all models and, as previously stated, 733,000 iPods.The retail store revenues were $273 million, up from $193 million in the previous quarter, or a substantial increase of 41%. Perhaps more meaningful, the stores posted a profit of $9 million during the quarter. Computer unit sales for the retail stores were also up compared to the previous quarter, to 73,000 units from 59,000. Based on these figures, the Retail Segment contributed 13.7% of Apple’s overall revenues, and 8.8% of the total computer sales. Check the latest financials for more details.Interestingly, Apple said the Ginza (Tokyo) store posted the highest first-month sales of any Apple store, averaging $1 million in sales per week.Lastly, the company said the increased capital expenditures for retail stores mentioned in the 2003 annual report would generally be spent on high-profile stores, and did not indicate opening as many as 15 stores during 2004. CFO Fred Anderson said the company previously forecast opening 80 stores by back-to-school 2004, and that figure still stands, although, “it could be a couple more.”