Apple may have to re-state impressive results


Apple may have to re-state impressive results

Antony Savvas

Apple has increased sales, net profits and gross margins for the fourth quarter, but it may have to re-state the results as a result of its ongoing investigation into wrongly accounted for stock options.

“These preliminary results may be subject to significant adjustment as a result of a likely restatement of historical results,” said Apple.

The company has already announced it has discovered irregularities in the way stock options were previously back-dated for the benefit of recipients.

For the quarter, the company posted revenue of $4.84bn (£2.61bn) and net profits of $546m. These results compare to revenue of $3.68bn and net profits of $430m in the same quarter a year ago.

Gross margins also increased to 29.2% from 28.1% a year ago.

Apple shipped 1.61 million Macintosh computers and 8.73 million iPods during the quarter, representing a 30% growth in Mac shipments and 35% for iPods compared to last year.

The company recently admitted it had shipped a number of video iPods loaded with a Trojan virus.

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