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Apple again reports record revenue and profits

Apple today reported record quarterly revenues and profits to start its 2012 fiscal year. The results reflect strong demand for the new iPhone 4S and the iPad.

Revenues for the quarter ending Dec. 31 were $46.33 billion, a new record, as was the quarterly net profit of $13.06 billion, or $13.87 per diluted share. By comparison to one year ago, revenue then was $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share. Gross margin was 44.7% compared to 38.5% in the year-ago quarter.

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In striking evidence of the reach of Apple's brand, international sales accounted for 58% of the quarter's revenue.

Apple sold 37 million iPhones in its first quarter. That is a 128% increase in unit growth over a year ago. In the same period, Apple sold 15.43 million iPads, a 111% increase compared to the previous year's quarter. Mac sales also increased again: 5.2 million Macs for the quarter, a 26% increase over the year-ago period. Only iPod sales were down: 5.4 million, a decline of 21%.

Peter Oppenheimer, Apple's CFO, reported that Apple generated more than $17.5 billion in cash flow from operations during the December quarter. He projected second-quarter revenue of about $3.5 billion.

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