Iria

Apple's iPod family remains a major driver for Apple's business growth. The company reported record revenues and profits for the quarter and year with music-related related business accounting for more than 40 percent of the company's sales. iPod nano demand outpaced supply, but the company was able to ship more than 1 million units during the first 17 days after launch.

Apple is looking into a rosy future with the conclusion of the best financial result in the firm's history. The company concluded fiscal Q4 with a profit of $430 million on revenues of $3.68 billion. These results compare to revenue of $2.35 billion and a net profit of $106 million in the year-ago quarter. On a yearly basis, revenues were up 68 percent to $13.93 billion and earnings were up 386 percent to $1.34 billion.

The company was able to sell more than 6.4 million iPods during the quarter, 220 percent more than in Q4 of 2004. The iPod nano apparently sold much better than Apple had expected. Company official said that there was "staggering" demand in every major geography and that the company exited the quarter with an "enormous backlog." Still, Apple shipped more than 1 million nanos within the first 17 days after launch. "We can't project, when supply will meet demand," said John Rubinstein, senior vice president of the firm's iPod division.
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Read More / Source: TG Daily