Apple Inc. Revenues & Profit for Q3 2012

Bloomberg - The Temptation of Tim: What Does Dividend Say About Apple’s Future?

Let me quote what I had posted yesterday in a post

"How the investors will react to this news. Empirically they'll like the idea but certain investors with growth perspective might think that the management is foreseeing not that much profitable growth opportunities that's why they have decided to share cash with the shareholders."

Not exactly the same words in letter but in spirit, to some extent, the Bloomberg also reported yesterday. Concerns which investors or analysts could have regarding Apple declaring dividends and share repurchase or what the management might be thinking regarding the future of the company can be seen in this news. 

Read the news: http://go.bloomberg.com/tech-deals/2012-03-19-the-temptation-of-tim-what-does-dividend-say-about-apples-future-2/

Apple Dividend Story Captivates Financial World

What Fox Business has to say on Apple announcing Dividend?

Read here: http://www.foxbusiness.com/technology/2012/03/19/apple-dividend-story-captivates-financial-world/

Apple Announces Plans to Initiate Dividend and Share Repurchase Program

A complete reading on dividends and share repurchase is present in Corporate Finance, Volume III in CFA Level II curriculum. How the investors will react to this news. Empirically they'll like the idea but certain investors with growth perspective might think that the management is foreseeing not that much profitable growth opportunities that's why they have decided to share cash with the shareholders. Obviously it isn't that much easy to predict. What company has to say on this officially, the link is provided at the bottom.

Read the press release: http://www.apple.com/pr/library/2012/03/19Apple-Announces-Plans-to-Initiate-Dividend-and-Share-Repurchase-Program.html

Apple Stock Performance

	Jun-06	Jun-07	Jun-08	Jun-09	Jun-10	Jun-11
Apple	100	213.1	292.37	248.7	439.2	586.12
S&P 500 Index	100	120.59	104.77	77.3	88.46	115.61
NASDAQ Computer Index	100	126.19	117.22	98.11	119.3	157.48

Apple Inc. Net Sales 2010-2011 (4th Quarter)

			Sep-Dec 2011	Sep-Dec 2010
Net Sales by Operating Segment (in million dollars)
America's Net Sales			17,714	9,218
Europe's Net Sales			11,256	7,256
Japan's Net Sales			3,550	1,433
Asia-Pacific Net Sales			7,697	4,987
Retail Net Sales			6,116	3,847
Total Net Sales			46,333	26,741

Apple Inc. Balance Sheet Extracts and Some Ratios

PERIOD ENDING	Sep-11	Sep-10	Sep-09	Sep-08
All numbers in thousands
Inventories	776,000	1,051,000	455,000	509,000
Receivables	11,717,000	9,924,000	5,057,000	4,704,000
Total Current Assets	44,988,000	41,678,000	31,555,000	34,690,000
Total Assets	116,371,000	75,183,000	47,501,000	39,572,000
Total Current Liabilities	27,970,000	20,722,000	11,506,000	14,092,000
Total Non-Current Liabilities	11,786,000	6,670,000	4,355,000	4,450,000
Total Liabilities	39,756,000	27,392,000	15,861,000	18,542,000
Total Equity	76,615,000	47,791,000	31,640,000	21,030,000
Total Revenues	108,249,000	65,225,000	42,905,000	32,479,000
Cost of Sales	62,617,000	38,514,000	24,949,000	20,861,000
Total Net Income	25,922,000	14,013,000	8,235,000	4,834,000
Revenue on Assets	0.93	0.87	0.90	0.82
Asset Turnover	1.08	1.15	1.11	1.22
Return on Assets	0.22	0.19	0.17	0.12
Return on Equity	0.34	0.29	0.26	0.23
Receivables Turnover	9.24	6.57	8.48	6.90
Inventory Turnover	80.69	36.65	54.83	40.98
Current Ratio	1.61	2.01	2.74	2.46
Quick Ratio	1.58	1.96	2.70	2.43
Financial Leverage	1.52	1.57	1.50	1.88

APPLE INC Income Statement & Some Ratios

PERIOD ENDING	Sep-11	Sep-10	Sep-09	Sep-08
All numbers in thousands
Income Statement
Operating Revenue (Revenue/Sales)	108,249,000	65,225,000	42,905,000	32,479,000
Total Revenues	108,249,000	65,225,000	42,905,000	32,479,000
Cost of Sales	62,617,000	38,514,000	24,949,000	20,861,000
Cost of Sales with Depreciation	64,431,000	39,541,000	25,683,000	21,334,000
Gross Margin	45,632,000	26,711,000	17,956,000	11,618,000
Gross Operating Profit	45,632,000	26,711,000	17,956,000	11,618,000
Research & Development Expense	2,429,000	1,782,000	1,333,000	1,109,000
Selling, Gen. & Administrative Expense	7,599,000	5,517,000	4,149,000	3,761,000
Operating Income	33,790,000	18,385,000	11,740,000	6,275,000
Operating Income b/f Depreciation (EBITDA)	35,604,000	19,412,000	12,474,000	6,748,000
Depreciation	1,814,000	1,027,000	734,000	473,000
Operating Income After Depreciation	33,790,000	18,385,000	11,740,000	6,275,000
Interest Income	519,000	311,000	407,000	*
Other Income, Net	-104,000	-156,000	-81,000	620,000
Total Income Avail for Interest Expense (EBIT)	34,205,000	18,540,000	12,066,000	6,895,000
Pre-tax Income (EBT)	34,205,000	18,540,000	12,066,000	6,895,000
Income Taxes	8,283,000	4,527,000	3,831,000	2,061,000
Income before Income Taxes	34,205,000	18,540,000	12,066,000	6,895,000
Net Income from Continuing Operations	25,922,000	14,013,000	8,235,000	4,834,000
Net Income from Total Operations	25,922,000	14,013,000	8,235,000	4,834,000
Total Net Income	25,922,000	14,013,000	8,235,000	4,834,000
Normalized Income	25,922,000	14,013,000	8,235,000	4,834,000
Net Income Available for Common	25,922,000	14,013,000	8,235,000	4,834,000
Gross Profit Margin	42.2%	41.0%	41.9%	35.8%
EBITDA Margin	32.9%	29.8%	29.1%	20.8%
Operating Profit Margin	31.2%	28.2%	27.4%	19.3%
Net Profit Margin	23.9%	21.5%	19.2%	14.9%
SG&A as % of Revenues	7.0%	8.5%	9.7%	11.6%
R&D as % of Revenues	2.2%	2.7%	3.1%	3.4%