Apple's Q4 Profit is $66 Million

Almost incredibly, Apple continues to be profitable despite the slumping economy and the economic nose dive of the technology sector, especially PC sales. Here is Apple's press release. Revenues and profits are down due to the general slump, of course, but the main index of Apple's economic efficacy is the gross margin on its sales which skyrocketed from 25 to over 30 per cent as compared with the same quarter a year ago--this is fabulous news reflecting how well the company has been managed!

Mac unit sales are down 22 per cent overall from the Q4 of 2000 but the new iBook sales are up nearly three fold overall and tripled in the education market according to Apple's press release. Tuesday's iBook refreshment should help maintain that momentum. PowerBook G4 Titanium sales dropped precipitously from Q3 and from Q4 of last year so Tuesday's refreshment was long overdue. iMac sales continued to decline substantially but still represent nearly 40 per cent of all Macs sold. However, standing at less than 20 per cent of Apple's revenues, the iMac is looking ready for a complete makeover.

Sales in Japan were hit the most against last quarter and against the same quarter last year.

Apple's cash increased to $4.3 billion, more than IBM's cash reserve according to this Yahoo News article. [Dana Baggett]

According to Apple's CFO during the conference call, Apple has some great new hardware in the pipeline.

Given background circumstances, Apple's Q4 report is very good.