Apple Inc. (NasdaqNM:AAPL) Reports Third Quarter Results-Best Non-Holiday Quarter Revenue and Earnings in Apple History
CUPERTINO, Calif., July 21 2009 -- Apple Inc. (NasdaqNM:AAPL) today announced financial results for its fiscal 2009 third quarter ended June 27, 2009. The Company posted revenue of $8.34 billion and a net quarterly profit of $1.23 billion, or $1.35 per diluted share. These results compare to revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share, in the year-ago quarter. Gross margin was 36.3 percent, up from 34.8 percent in the year-ago quarter. International sales accounted for 44 percent of the quarter's revenue. In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone(TM) and Apple TV® over their estimated economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $9.74 billion of "Adjusted Sales" and $1.94 billion of "Adjusted Net Income."
Apple sold 2.6 million Macintosh® computers during the quarter, representing a four percent unit increase over the year-ago quarter. The Company sold 10.2 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. Quarterly iPhones sold were 5.2 million, representing 626 percent unit growth over the year-ago quarter.
"We're making our most innovative products ever and our customers are responding," said Steve Jobs, Apple's CEO. "We're thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year."
"We're extremely pleased to report record non-holiday quarter revenue and earnings and quarterly cash flow from operations of $2.3 billion," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23."
Apple will provide live streaming of its Q3 2009 financial results conference call utilizing QuickTime®, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on July 21, 2009 at http://www.apple.com/quicktime/qtv/earningsq309/ and will also be available for replay for approximately two weeks thereafter.
*Non-GAAP Financial Measures
During fiscal 2007, the Company began selling iPhone and Apple TV. Because the Company may provide unspecified features and additional software products to iPhone and Apple TV customers in the future free of charge, in accordance with GAAP the Company recognizes revenue and cost of goods sold for these products on a straight-line basis over their economic lives, with any loss recognized at the time of sale. Currently, the economic lives of these products are estimated to be 24 months. This accounting treatment, referred to as subscription accounting, results in the deferral of almost all of the revenue and cost of goods sold during the quarter in which the products are sold to the customer. Other costs related to these products, including costs for engineering, sales, marketing and warranty, are expensed as incurred. Further, the costs to develop any future unspecified features and additional software products that may eventually be provided to customers also are expensed as incurred. In contrast, the Company generally recognizes revenue and cost of goods sold for its other products, such as Macs and iPods, at the time of sale, as the Company does not provide future unspecified features or additional software products to those customers free of charge.
In July 2008, the Company began selling iPhone 3G, the second-generation iPhone, and at that time significantly expanded distribution by establishing carrier relationships in over 70 countries. Unit sales of iPhone 3G have been significantly greater than sales of the first-generation iPhone. During the first quarter of iPhone 3G availability ended September 27, 2008, 6.9 million units were sold, exceeding the 6.1 million first-generation iPhone units sold in the prior five quarters combined.
In June 2009, the Company began selling iPhone 3GS, the third-generation iPhone. Unit sales of iPhones continued to be significant in the quarter ended June 27, 2009, with 5.2 million iPhones sold. As a result, the amount of revenue and product cost related to those iPhone sales that the Company deferred for recognition in future periods under subscription accounting was substantial. While the GAAP results provide significant insight into the Company's operations and financial position, management continues to supplement its analysis of the business using financial measures that look at the total sales, related product costs and resulting income for iPhones and Apple TVs sold to customers during the period. The presentation at the end of this press release includes the following non-GAAP measures: "Adjusted Sales," "Adjusted Cost of Sales," "Adjusted Gross Margin," "Adjusted Operating Margin," "Adjusted Net Income" and "Adjusted Diluted Earnings per Share." These financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. The above-mentioned non-GAAP measures are generated by adjusting the related GAAP measures solely to reverse the effect of subscription accounting. The Company uses these financial measures, along with other measures discussed below, to provide additional insight into current operating and business trends not readily apparent from the GAAP results.
Management uses Adjusted Sales to evaluate the Company's growth rate, revenue mix and performance relative to competitors. Given the impact of iPhone unit sales during the quarter ended June 27, 2009, Adjusted Sales provides a meaningful measurement of the Company's growth by reflecting amounts generally due to Apple at the time of sale related to products sold within the period. Further, eliminating the effects of deferred revenue (current sales deferred to future periods and prior sales being recognized currently) provides more transparency into the Company's underlying sales trends. Management uses the non-GAAP measures of "Adjusted Cost of Sales," "Adjusted Gross Margin" and "Adjusted Operating Margin" to measure the Company's operating performance based on current period iPhone and Apple TV sales and to facilitate ongoing operating decisions. Additionally, because the Company recognizes engineering, sales, and marketing expenses as incurred, including expenses related to iPhone and Apple TV, management uses Adjusted Sales to evaluate returns on those costs, to manage year-over-year operating expense growth, and to budget future expenses. Furthermore, because they are considered meaningful indicators of current business performance, the non-GAAP measures "Adjusted Sales" and "Adjusted Operating Margin" are metrics that factor into the determination of management compensation beginning in fiscal year 2009. Finally, management uses the non-GAAP measures of "Adjusted Net Income" and "Adjusted Diluted Earnings per Share" to measure the Company's operating performance based on current period iPhone and Apple TV sales, to facilitate ongoing operating decisions, and compare performance relative to competitors.
Management believes that these non-GAAP financial measures, when taken together with the corresponding consolidated GAAP measures and related segment information, provide incremental insight into the underlying factors and trends affecting both the Company's performance and its cash generating potential. Management believes these non-GAAP measures increase the transparency of the Company's current results and enable investors to more fully understand trends in its current and future performance.
Cautions on Use of Non-GAAP Measures
As noted previously, these non-GAAP financial measures are not consistent with GAAP because they do not reflect the deferral of revenue and product costs for recognition in later periods. These non-GAAP financial measures do not adjust for the costs associated with the Company's intention to provide unspecified new features and software to purchasers of iPhone and Apple TV products. These costs are expensed as incurred under GAAP's subscription accounting model, and are not adjusted in these non-GAAP financial measures. As such, these non-GAAP financial measures are not intended to reflect in a given period all of the costs of sales made in that period. Rather, the non-GAAP financial measures presented below are intended for the limited purpose of presenting performance measures that include the total sales, related product costs, and resulting income for iPhones and Apple TVs in the period those products are sold to customers.
Management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company's operating results, as well as when forecasting and analyzing future periods. However, management recognizes that:
these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company's GAAP financial measures;these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company's GAAP financial measures; these non-GAAP financial measures should not be considered to be superior to the Company's GAAP financial measures; these non-GAAP financial measures were not prepared in accordance with GAAP and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principles;these non-GAAP financial measures are not presented with comparable non-GAAP financial measures for prior periods, although management intends to continue to track and present these non-GAAP financial measures for future periods; anduntil management presents comparable non-GAAP financial measures for additional periods, these non-GAAP financial measures do not provide any information regarding trends in the Company's performance and, as such, investors should not assume that the presentation of these non-GAAP financial measures reflects any positive or negative trends in the Company's performance.Further, these non-GAAP financial measures may be unique to the Company, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company's results to the results of other companies.
A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure or measures appears at the end of this press release.
This press release contains forward-looking statements including without limitation those about the Company's estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions with respect to the Company's products; potential litigation from the matters investigated by the special committee of the board of directors and the restatement of the Company's consolidated financial statements; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company's gross margin; the inventory risk associated with the Company's need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company's reliance on the availability of third-party digital content and applications; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the effect that product and service quality problems could have on the Company's sales and operating profits; the Company's reliance on sole service providers for iPhone in certain countries; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; the continued service and availability of key executives and employees; unfavorable results of other legal proceedings; and the Company's dependency on the performance of distributors and other resellers of the Company's products. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 27, 2008, its Form 10-Q for the quarter ended December 27, 2008, its Form 10-Q for the quarter ended March 28, 2009, and its Form 10-Q for the quarter ended June 27, 2009 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
© 2009 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone, Apple TV and QuickTime are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
full financial tables see at http://www.apple.com
Tuesday, July 21, 2009
Monday, February 09, 2009
New singer/songwriter launches website
New singer/songwriter launches website
ALLOWAY, NEW JERSEY February 9, 2009, 2009.
Guitarist/singer/songwriter Zach Caruso will be launching his new website which will offer viewers a variety of information about the new, young artist. The site, http://www.zachcaruso.com, includes a biography and news updates, photos, video, and listings of upcoming performances, as well as streaming audio clips of Zachs music. In addition, the site will also feature merchandise including t-shirts and stickers.
Viewers can also visit Zachs MySpace page for more information at http://www.myspace.com/zachcarusomusic.
The 22-year-old south Jersey native began playing and writing music at an early age, and pulls from a wide-range of influences to create his own eclectic style. His passion for music and penchant for variety has led him to incorporate acoustic, electric, and slide guitar-infused melodies with strong vocals and mature songwriting to produce a sound that stands out among his peers.
The site will be updated regularly, with new photos being added, as well as information on where and when Zach will be playing live shows in the area. Zach also just wrapped up the recording of five new songs. These five tracks, plus four more songs recorded in late 2007, will appear on his new album Body and Soul, slated for release in October of this year. The album will be on sale at http://www.zachcaruso.com .
The nine songs comprising Body and Soul will also be available for individual download on ITunes and MSN Rhapsody, as well as http://cdbaby.com/cd/zachcaruso
In addition, Zach recently wrapped up filming on the music video for his single Jesus Walks, a controversial song that is a call to action for all listeners, and deals with the record-breaking murder rates in Philadelphia, PA. The video should be completed and available to view on his website, http://www.zachcaruso.com, as well as youtube.com, by early 2009.
Contact:
Zach Caruso
zach@zachcaruso.com
ALLOWAY, NEW JERSEY February 9, 2009, 2009.
Guitarist/singer/songwriter Zach Caruso will be launching his new website which will offer viewers a variety of information about the new, young artist. The site, http://www.zachcaruso.com, includes a biography and news updates, photos, video, and listings of upcoming performances, as well as streaming audio clips of Zachs music. In addition, the site will also feature merchandise including t-shirts and stickers.
Viewers can also visit Zachs MySpace page for more information at http://www.myspace.com/zachcarusomusic.
The 22-year-old south Jersey native began playing and writing music at an early age, and pulls from a wide-range of influences to create his own eclectic style. His passion for music and penchant for variety has led him to incorporate acoustic, electric, and slide guitar-infused melodies with strong vocals and mature songwriting to produce a sound that stands out among his peers.
The site will be updated regularly, with new photos being added, as well as information on where and when Zach will be playing live shows in the area. Zach also just wrapped up the recording of five new songs. These five tracks, plus four more songs recorded in late 2007, will appear on his new album Body and Soul, slated for release in October of this year. The album will be on sale at http://www.zachcaruso.com .
The nine songs comprising Body and Soul will also be available for individual download on ITunes and MSN Rhapsody, as well as http://cdbaby.com/cd/zachcaruso
In addition, Zach recently wrapped up filming on the music video for his single Jesus Walks, a controversial song that is a call to action for all listeners, and deals with the record-breaking murder rates in Philadelphia, PA. The video should be completed and available to view on his website, http://www.zachcaruso.com, as well as youtube.com, by early 2009.
Contact:
Zach Caruso
zach@zachcaruso.com
Thursday, October 23, 2008
Investorideas.com Launches “News of the Day” for Music Stocks and Industry
Investorideas.com Launches “News of the Day” for Food and Beverage,
Organics, Homebuilding Stocks, Toy Industry or Music Industry Stocks and other Leading Sectors
POINT ROBERTS, WA – October 23, 2008, Investorideas.com, a leading global investor and industry research resource reports the InvestorIdeas.com newswire has added new options and upgrades to the Investorideas.com Newswire for public and private companies to gain enhanced market exposure and online visibility on a day- to- day basis to investors and industry following their sector. Companies and publicly traded stocks in food and beverage, organics, homebuilding, music and the toy industry can be featured as the sector news of the day.
With markets and investor sentiment changing daily Investorideas.com new service creates an online venue targeted to global investors for Story of the day, Sector News of the Day and Audio of the day in over 30 sectors including Oil and Gas Stocks, Tech Stocks, Telecom, Digital Media, China Stocks, renewable energy/cleantech, water, mining, biotech, nanotech, coal, natural gas, Homeland Security and more.
InvestorIdeas.com currently attracts a global investor audience averaging 15,000 unique visitors per day (and growing), made up of investors, brokers, analysts, media, industry peers, institutions and government seeking news and research on over 30 sectors and global markets. Additionally, InvestorIdeas.com and its related sector portals are visible multiple financial and news sites and blogs globally via the Investorideas.com RSS feeds and syndication partners.
About the Investorideas.com Newswire:
Investor Ideas Newswire is fast becoming a valuable news source for investors and industry leaders. Readers can subscribe to the feed, companies can submit news to the feed and investment and news sites can add the RSS feed for free. Investor Ideas Newswire is indexed by Google News, My Yahoo! and other leading news sources.
Newswire RSS Feed: http://www.investorideas.com/RSS/feeds/IIMAIN.xml
Companies can submit Stock, Investing and Financial News or Industry News: Target Your News to Investors, Investment Industry and Industry Eyeballs Following Your Specific Sector (Choose up to 3 Industry Portals). Submit your news release to our Investor Ideas Newswire, RSS Feed and sector portals covering the Environment, Homeland Security, Tech, Digital Media, Renewable Energy, Greentech, Oil and Gas, Nanotech, Biotech, Gold, Mining, China, India, Middle East and other leading sectors and global markets. The Investorideas.com newswire uploader: http://www1.investorideas.com/NewsUploader/Default.aspx
New Investorideas.com Upgrade Options for news release or announcements:
Do you have a great news release or announcement that you want to gain extra eyeballs and ear-balls for? With markets and investor sentiment changing daily- Be the Story of the day!
To accommodate short term targeted news distribution programs on a budget we have now added the following upgrades to give you multiple options at an affordable price!
In addition to the basis news distribution the $75 Investorideas.com newswire service provides – companies can now choose one or more of the following:
Be the Sector news of the day- Be the featured news story of the day on the sector home page of your choice and have your news sent to our subscribers!
Be the Investorideas.com home page top news story of the day – Be directly visible to 10-15,000 visitors a day! We will also send your news as the story of the day to our subscribers following your sector!
Be the Featured Podcast - audio news story of the day – We will read your news or announcement and create an audio file and add to our Podcast RSS feeds and your audio will be the featured audio on Investorideas.com home page for the day!
News uploader: http://www1.investorideas.com/NewsUploader/Default.aspx
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
The Investorideas.com Trading Exchange: http://www.investorideas.com/trade/
RSS Ad feeds:
Investing Ideas http://www.investorideas.com/rss/feeds/adfeed.xml
Trading Services http://www.investorideas.com/rss/feeds/tradingservicesadfeed.xml
Financial Services http://www.investorideas.com/rss/feeds/financialservicesadfeed.xml
IR/PR Services http://www.investorideas.com/rss/feeds/ir-prservicesadfeed.xml
Business Services http://www.investorideas.com/rss/feeds/businessservicesadfeed.xml
Financial/Investing Products http://www.investorideas.com/rss/feeds/financial-investingproductsadfeed.xml
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Or cvanzant@investorideas.com
Organics, Homebuilding Stocks, Toy Industry or Music Industry Stocks and other Leading Sectors
POINT ROBERTS, WA – October 23, 2008, Investorideas.com, a leading global investor and industry research resource reports the InvestorIdeas.com newswire has added new options and upgrades to the Investorideas.com Newswire for public and private companies to gain enhanced market exposure and online visibility on a day- to- day basis to investors and industry following their sector. Companies and publicly traded stocks in food and beverage, organics, homebuilding, music and the toy industry can be featured as the sector news of the day.
With markets and investor sentiment changing daily Investorideas.com new service creates an online venue targeted to global investors for Story of the day, Sector News of the Day and Audio of the day in over 30 sectors including Oil and Gas Stocks, Tech Stocks, Telecom, Digital Media, China Stocks, renewable energy/cleantech, water, mining, biotech, nanotech, coal, natural gas, Homeland Security and more.
InvestorIdeas.com currently attracts a global investor audience averaging 15,000 unique visitors per day (and growing), made up of investors, brokers, analysts, media, industry peers, institutions and government seeking news and research on over 30 sectors and global markets. Additionally, InvestorIdeas.com and its related sector portals are visible multiple financial and news sites and blogs globally via the Investorideas.com RSS feeds and syndication partners.
About the Investorideas.com Newswire:
Investor Ideas Newswire is fast becoming a valuable news source for investors and industry leaders. Readers can subscribe to the feed, companies can submit news to the feed and investment and news sites can add the RSS feed for free. Investor Ideas Newswire is indexed by Google News, My Yahoo! and other leading news sources.
Newswire RSS Feed: http://www.investorideas.com/RSS/feeds/IIMAIN.xml
Companies can submit Stock, Investing and Financial News or Industry News: Target Your News to Investors, Investment Industry and Industry Eyeballs Following Your Specific Sector (Choose up to 3 Industry Portals). Submit your news release to our Investor Ideas Newswire, RSS Feed and sector portals covering the Environment, Homeland Security, Tech, Digital Media, Renewable Energy, Greentech, Oil and Gas, Nanotech, Biotech, Gold, Mining, China, India, Middle East and other leading sectors and global markets. The Investorideas.com newswire uploader: http://www1.investorideas.com/NewsUploader/Default.aspx
New Investorideas.com Upgrade Options for news release or announcements:
Do you have a great news release or announcement that you want to gain extra eyeballs and ear-balls for? With markets and investor sentiment changing daily- Be the Story of the day!
To accommodate short term targeted news distribution programs on a budget we have now added the following upgrades to give you multiple options at an affordable price!
In addition to the basis news distribution the $75 Investorideas.com newswire service provides – companies can now choose one or more of the following:
Be the Sector news of the day- Be the featured news story of the day on the sector home page of your choice and have your news sent to our subscribers!
Be the Investorideas.com home page top news story of the day – Be directly visible to 10-15,000 visitors a day! We will also send your news as the story of the day to our subscribers following your sector!
Be the Featured Podcast - audio news story of the day – We will read your news or announcement and create an audio file and add to our Podcast RSS feeds and your audio will be the featured audio on Investorideas.com home page for the day!
News uploader: http://www1.investorideas.com/NewsUploader/Default.aspx
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
The Investorideas.com Trading Exchange: http://www.investorideas.com/trade/
RSS Ad feeds:
Investing Ideas http://www.investorideas.com/rss/feeds/adfeed.xml
Trading Services http://www.investorideas.com/rss/feeds/tradingservicesadfeed.xml
Financial Services http://www.investorideas.com/rss/feeds/financialservicesadfeed.xml
IR/PR Services http://www.investorideas.com/rss/feeds/ir-prservicesadfeed.xml
Business Services http://www.investorideas.com/rss/feeds/businessservicesadfeed.xml
Financial/Investing Products http://www.investorideas.com/rss/feeds/financial-investingproductsadfeed.xml
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Or cvanzant@investorideas.com
Monday, September 15, 2008
Marketplace Update- Connecting Business and Investors in Music Industry, Cleantech and Organics
InvestorIdeas.com Global Marketplace Update- Connecting Business and Investors in Music Industry, Cleantech and Organics
POINT ROBERTS, Wash., Delta B.C., 08 - www.InvestorIdeas.com, a leading online global investor resource, updates the Investor Ideas Global Marketplace connecting business and investors in the music, cleantech and organics sectors.
Other industries include the water industry, Homeland Security, Oil and gas, Real Estate and other leading sectors.
The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, mergers and acquisitions, licensing or branding. Investorideas.com is building a growing a global network of green and renewable energy companies both seeking funding, partners or management as well as funds, small public companies and Fortune 500 companies seeking investment opportunities.
http://www.investorideas.com/marketplace
To register and sign up as an accredited investor or business: http://www.investorideas.com/marketplace/signup.asp
The Global Green Marketplace
The marketplace fastest growing segments include cleantech, renewable and organics sector. Sector: Sector: Cleantech & Renewable Energy Seeking: Funding/Partners
We currently have green companies for review to accredited investors: small wind turbine, carbon capture, PV installer service company, green building and housing , agri-waste to marketable bi-product, waste to energy, China Fiber fuel- Jatropha, green automotive engine, environmental technology safely removes mercury from light bulbs and other green companies added regularly.
Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy and water – with its Renewableenergystocks.com portal and Water-stocks.com portal.
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
MusicIndustryStocks.com Portal is a global meeting place for investors and industry following the music sector, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and our stock directories.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
POINT ROBERTS, Wash., Delta B.C., 08 - www.InvestorIdeas.com, a leading online global investor resource, updates the Investor Ideas Global Marketplace connecting business and investors in the music, cleantech and organics sectors.
Other industries include the water industry, Homeland Security, Oil and gas, Real Estate and other leading sectors.
The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, mergers and acquisitions, licensing or branding. Investorideas.com is building a growing a global network of green and renewable energy companies both seeking funding, partners or management as well as funds, small public companies and Fortune 500 companies seeking investment opportunities.
http://www.investorideas.com/marketplace
To register and sign up as an accredited investor or business: http://www.investorideas.com/marketplace/signup.asp
The Global Green Marketplace
The marketplace fastest growing segments include cleantech, renewable and organics sector. Sector: Sector: Cleantech & Renewable Energy Seeking: Funding/Partners
We currently have green companies for review to accredited investors: small wind turbine, carbon capture, PV installer service company, green building and housing , agri-waste to marketable bi-product, waste to energy, China Fiber fuel- Jatropha, green automotive engine, environmental technology safely removes mercury from light bulbs and other green companies added regularly.
Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy and water – with its Renewableenergystocks.com portal and Water-stocks.com portal.
About InvestorIdeas.com:
"One of the first online investor resources providing in-depth information on renewable energy, greentech and water sectors." InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
MusicIndustryStocks.com Portal is a global meeting place for investors and industry following the music sector, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and our stock directories.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Best Buy to Acquire Napster
Best Buy to Acquire Napster
Email Story IM Story Printable View MINNEAPOLIS & LOS ANGELES--September 15 2008 -Best Buy Co., Inc. (NYSE: BBY) and Napster Inc. (NASDAQ: NAPS) announced today that the two companies have entered into a definitive merger agreement for Best Buy to commence a tender offer for all outstanding Napster shares at a price of $2.65 per share in cash. The transaction, with an aggregate purchase price of approximately $121 million (or $54 million net of approximately $67 million in cash and short term investments of Napster as of June 30, 2008), is subject to customary closing conditions, including the tender of a number of Napster shares that constitutes a majority of Napster’s outstanding shares of common stock (on a fully-diluted basis). The transaction is expected to close during the fourth calendar quarter. The transaction has been unanimously approved by the board of directors of Napster, and Napster’s directors and executive officers have agreed, in their capacities as stockholders, to tender their Napster shares and otherwise support the transaction.
The proposed acquisition includes Napster’s approximately 700,000 digital entertainment subscribers, its Web-based customer service platform, and innovative mobile capabilities. In conjunction with the definitive merger agreement, Napster CEO Chris Gorog and key members of senior management of Napster have entered into employment agreements, effective at closing, pursuant to which they have agreed to continue as the Napster leadership post-acquisition.
Best Buy believes that Napster has one of the most comprehensive and easy-to-use music offerings in the industry, including streaming music, music subscriptions, the ability to purchase individual tracks, albums and mobile offers. Napster has approximately 140 employees, with its headquarters in Los Angeles. At this time, Best Buy does not plan to relocate Napster’s headquarters or to make significant changes in personnel.
“This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers,” said Brian Dunn, President and COO of Best Buy. “Over time we hope to strengthen our offerings to consumers, who we believe will increasingly seek devices and solutions that enable them to access their content wherever, whenever and however they want.”
Best Buy intends to use Napster’s capabilities and digital subscriber base to reach new customers with an enhanced experience for exploring and selecting music and other digital entertainment products over an increasing array of devices. Best Buy believes the combined capabilities of the two companies will allow it to build stronger relationships with customers, expand the number of subscribers, and capture recurring revenue by offering ongoing value over a mobile digital platform.
“We believe Napster brings us excellent capabilities in the mobility space, as well as international operations and an established team of technology experts,” said Dave Morrish, Executive Vice President – Connected Digital Solutions of Best Buy. “We can foresee Napster acting as a platform for accelerating our growth in the emerging industry of digital entertainment, beyond music subscriptions. We’re very excited to add these capabilities to leverage our existing relationships with the labels, the studios, and the hardware providers. We believe Napster will be an outstanding addition to our already robust portfolio of partners and offerings in the digital music space.”
“We believe Best Buy will be an ideal partner for Napster and are very excited by the benefits that this transaction delivers to our shareholders, partners and employees. Best Buy is uniquely positioned to benefit from Napster’s digital entertainment distribution platform. We are looking forward to combining our digital media capabilities with Best Buy’s resources and global network to extend our digital content platforms,” said Chris Gorog, chairman and CEO of Napster.
Under the terms of the definitive merger agreement, Best Buy will commence a cash tender offer to purchase all of the outstanding shares of Napster common stock for $2.65 per share in cash, with a supporting recommendation from the Napster Board of Directors. The closing of the tender offer is subject to customary terms and conditions, including the tender of a number of shares that constitutes a majority of Napster's outstanding shares of common stock (on a fully diluted basis) and expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvement Act. The agreement also provides for the parties to effect, subject to customary conditions, a merger to be completed following the completion of the tender offer which would result in all shares not tendered in the tender offer (other than shares held by Best Buy, treasury shares, and shares held by Napster shareholders, if any, who properly exercise appraisal rights) being converted into the right to receive $2.65 per share in cash. The directors and certain officers of Napster have entered into agreements with Best Buy pursuant to which they have agreed to tender their shares in connection with the tender offer contemplated by the merger agreement and otherwise support the transaction.
Napster, which recently launched one of the world’s largest MP3 stores, had fiscal 2008 revenue of $127.5 million, an increase of 15 percent over the prior fiscal year; a loss of $16.5 million, an improvement compared with a loss of $36.8 million the prior fiscal year; and positive cash flow for the fiscal year ended March 31, 2008.
Best Buy intends to complete the acquisition using available cash. UBS Investment Bank served as the exclusive financial advisor to Napster, and Napster is represented by O’Melveny & Myers LLP. Best Buy is represented by Robins, Kaplan, Miller & Ciresi L.L.P.
About Best Buy
With operations in the United States, Canada, Europe and China, Best Buy (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, and Speakeasy. Approximately 150,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.
About Napster
Napster, the pioneer of digital music, offers the ultimate in interactive music experiences, creating better ways to discover, share, acquire and enjoy music -- anytime, anywhere. The Company's offerings include "Napster" (www.napster.com) -- the premier online music destination featuring the most popular on-demand music subscription service in the world and the largest, most comprehensive MP3 download store on the market; "FreeNapster" (www.freeNapster.com) -- a unique Web experience offering free on demand music legally; and "Napster Mobile" -- one of the industry's fastest growing mobile music platforms. Headquartered in Los Angeles, Napster's services are available in markets across the Americas, Europe and Japan.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect Best Buy and Napster managements’ current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as "anticipate," "believe," "estimate," "expect," "intend," "project," "plan," "outlook," and other words and terms of similar meaning. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: failure to meet the minimum tender condition or obtain any required stockholder or regulatory approvals or satisfy other conditions to the transaction; failure to achieve anticipated benefits of the transaction; and integration challenges relating to the acquisition. Other factors include the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, Best Buy's and Napster’s ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on overall profitability. A further list and description of risks, uncertainties and other matters can be found in Best Buy’s and Napster’s annual reports and other reports filed from time to time with the U.S. Securities and Exchange Commission ("SEC"), including, but not limited to, Best Buy's Annual Report on Form 10-K filed with the SEC on April 30, 2008, and Napster’s Annual Report on Form 10-K filed with the SEC on June 11, 2008. Best Buy and Napster caution that the foregoing list of important factors is not complete and assume no obligation to update any forward-looking statement that it may make.
Additional Information and Where to Find it
The tender offer for the outstanding common stock of Napster has not yet commenced. This document is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of Napster common stock will be made only pursuant to an offer to purchase and related materials that Best Buy intends to file with the SEC on Schedule TO. Napster also intends to file a solicitation/recommendation statement on Schedule 14D-9 with respect to the offer. Napster stockholders and other investors should read these materials carefully because they contain important information, including the terms and conditions of the offer. Napster stockholders and other investors will be able to obtain copies of these materials without charge from the SEC through the SEC’s Web site at www.sec.gov, from the Information Agent named in the tender offer documents, from Best Buy (with respect to documents filed by Best Buy with the SEC), or from Napster (with respect to documents filed by Napster with the SEC).
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5777533
Best Buy
Media Contacts:
Susan Busch, 612-291-6114
Director, Corporate PR
susan.busch@bestbuy.com
Email Story IM Story Printable View MINNEAPOLIS & LOS ANGELES--September 15 2008 -Best Buy Co., Inc. (NYSE: BBY) and Napster Inc. (NASDAQ: NAPS) announced today that the two companies have entered into a definitive merger agreement for Best Buy to commence a tender offer for all outstanding Napster shares at a price of $2.65 per share in cash. The transaction, with an aggregate purchase price of approximately $121 million (or $54 million net of approximately $67 million in cash and short term investments of Napster as of June 30, 2008), is subject to customary closing conditions, including the tender of a number of Napster shares that constitutes a majority of Napster’s outstanding shares of common stock (on a fully-diluted basis). The transaction is expected to close during the fourth calendar quarter. The transaction has been unanimously approved by the board of directors of Napster, and Napster’s directors and executive officers have agreed, in their capacities as stockholders, to tender their Napster shares and otherwise support the transaction.
The proposed acquisition includes Napster’s approximately 700,000 digital entertainment subscribers, its Web-based customer service platform, and innovative mobile capabilities. In conjunction with the definitive merger agreement, Napster CEO Chris Gorog and key members of senior management of Napster have entered into employment agreements, effective at closing, pursuant to which they have agreed to continue as the Napster leadership post-acquisition.
Best Buy believes that Napster has one of the most comprehensive and easy-to-use music offerings in the industry, including streaming music, music subscriptions, the ability to purchase individual tracks, albums and mobile offers. Napster has approximately 140 employees, with its headquarters in Los Angeles. At this time, Best Buy does not plan to relocate Napster’s headquarters or to make significant changes in personnel.
“This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers,” said Brian Dunn, President and COO of Best Buy. “Over time we hope to strengthen our offerings to consumers, who we believe will increasingly seek devices and solutions that enable them to access their content wherever, whenever and however they want.”
Best Buy intends to use Napster’s capabilities and digital subscriber base to reach new customers with an enhanced experience for exploring and selecting music and other digital entertainment products over an increasing array of devices. Best Buy believes the combined capabilities of the two companies will allow it to build stronger relationships with customers, expand the number of subscribers, and capture recurring revenue by offering ongoing value over a mobile digital platform.
“We believe Napster brings us excellent capabilities in the mobility space, as well as international operations and an established team of technology experts,” said Dave Morrish, Executive Vice President – Connected Digital Solutions of Best Buy. “We can foresee Napster acting as a platform for accelerating our growth in the emerging industry of digital entertainment, beyond music subscriptions. We’re very excited to add these capabilities to leverage our existing relationships with the labels, the studios, and the hardware providers. We believe Napster will be an outstanding addition to our already robust portfolio of partners and offerings in the digital music space.”
“We believe Best Buy will be an ideal partner for Napster and are very excited by the benefits that this transaction delivers to our shareholders, partners and employees. Best Buy is uniquely positioned to benefit from Napster’s digital entertainment distribution platform. We are looking forward to combining our digital media capabilities with Best Buy’s resources and global network to extend our digital content platforms,” said Chris Gorog, chairman and CEO of Napster.
Under the terms of the definitive merger agreement, Best Buy will commence a cash tender offer to purchase all of the outstanding shares of Napster common stock for $2.65 per share in cash, with a supporting recommendation from the Napster Board of Directors. The closing of the tender offer is subject to customary terms and conditions, including the tender of a number of shares that constitutes a majority of Napster's outstanding shares of common stock (on a fully diluted basis) and expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvement Act. The agreement also provides for the parties to effect, subject to customary conditions, a merger to be completed following the completion of the tender offer which would result in all shares not tendered in the tender offer (other than shares held by Best Buy, treasury shares, and shares held by Napster shareholders, if any, who properly exercise appraisal rights) being converted into the right to receive $2.65 per share in cash. The directors and certain officers of Napster have entered into agreements with Best Buy pursuant to which they have agreed to tender their shares in connection with the tender offer contemplated by the merger agreement and otherwise support the transaction.
Napster, which recently launched one of the world’s largest MP3 stores, had fiscal 2008 revenue of $127.5 million, an increase of 15 percent over the prior fiscal year; a loss of $16.5 million, an improvement compared with a loss of $36.8 million the prior fiscal year; and positive cash flow for the fiscal year ended March 31, 2008.
Best Buy intends to complete the acquisition using available cash. UBS Investment Bank served as the exclusive financial advisor to Napster, and Napster is represented by O’Melveny & Myers LLP. Best Buy is represented by Robins, Kaplan, Miller & Ciresi L.L.P.
About Best Buy
With operations in the United States, Canada, Europe and China, Best Buy (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, and Speakeasy. Approximately 150,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.
About Napster
Napster, the pioneer of digital music, offers the ultimate in interactive music experiences, creating better ways to discover, share, acquire and enjoy music -- anytime, anywhere. The Company's offerings include "Napster" (www.napster.com) -- the premier online music destination featuring the most popular on-demand music subscription service in the world and the largest, most comprehensive MP3 download store on the market; "FreeNapster" (www.freeNapster.com) -- a unique Web experience offering free on demand music legally; and "Napster Mobile" -- one of the industry's fastest growing mobile music platforms. Headquartered in Los Angeles, Napster's services are available in markets across the Americas, Europe and Japan.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect Best Buy and Napster managements’ current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as "anticipate," "believe," "estimate," "expect," "intend," "project," "plan," "outlook," and other words and terms of similar meaning. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: failure to meet the minimum tender condition or obtain any required stockholder or regulatory approvals or satisfy other conditions to the transaction; failure to achieve anticipated benefits of the transaction; and integration challenges relating to the acquisition. Other factors include the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, Best Buy's and Napster’s ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on overall profitability. A further list and description of risks, uncertainties and other matters can be found in Best Buy’s and Napster’s annual reports and other reports filed from time to time with the U.S. Securities and Exchange Commission ("SEC"), including, but not limited to, Best Buy's Annual Report on Form 10-K filed with the SEC on April 30, 2008, and Napster’s Annual Report on Form 10-K filed with the SEC on June 11, 2008. Best Buy and Napster caution that the foregoing list of important factors is not complete and assume no obligation to update any forward-looking statement that it may make.
Additional Information and Where to Find it
The tender offer for the outstanding common stock of Napster has not yet commenced. This document is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of Napster common stock will be made only pursuant to an offer to purchase and related materials that Best Buy intends to file with the SEC on Schedule TO. Napster also intends to file a solicitation/recommendation statement on Schedule 14D-9 with respect to the offer. Napster stockholders and other investors should read these materials carefully because they contain important information, including the terms and conditions of the offer. Napster stockholders and other investors will be able to obtain copies of these materials without charge from the SEC through the SEC’s Web site at www.sec.gov, from the Information Agent named in the tender offer documents, from Best Buy (with respect to documents filed by Best Buy with the SEC), or from Napster (with respect to documents filed by Napster with the SEC).
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5777533
Best Buy
Media Contacts:
Susan Busch, 612-291-6114
Director, Corporate PR
susan.busch@bestbuy.com
Friday, July 11, 2008
Local teen gets strong start to indie music sharing site
Local teen gets strong start to indie music sharing site
By Kathy Michaels - Kelowna Capital News
Published: July 01, 2008 10:00 PM It’s only been a year since 19-year-old Taylor Van Zant started up a website dedicated to promoting new bands, and in that time thousands have had a chance to get their fill of indie music.
“It’s something we started up awhile ago,” said the UBC Okanagan student. “Basically, my mum used to have an greeting card company and I was into music, so I started writing my own stuff, and compiling music so we could send out music on a greeting card.”
With time, that developed into a site where indie bands could send out their music to multiple sources, almost effortlessly.
Van Sant explained that the service, at this point, isn’t income generating so much as it is a free way for up and coming bands to advertise and promote their own sound.
Bands can upload their music—so long as it’s in MP3 format— and they can send it up to 10 people at a time.
“It’s a good way to spread around what you are doing with your music. All the indie bands can send their music out without having to sending out huge files—and it’s free.”
For the past year, Van Sant and his mother have been working on building up the network, which at this time is 2,000 members strong.
“We have a band of the week and we promote anyone who sends their music out the most,” he explained.
“We keep a daily post of what bands are sending out their music, and we update our Myspace page to have more bands sign up and check it out.”
Once they’re better established they intend to make the service membership driven with ties to other music sites and labels, as well as some advertisement links.
Van Sant said that the types of music on the site vary from acoustic to hip hop, rap and dance.
“We have pretty much whatever you can think of— there are underground bands for every style of music.”\
To see what the site is all about, go to www.mp3musicgrams.com
kmichaels@kelownacapnews.com
By Kathy Michaels - Kelowna Capital News
Published: July 01, 2008 10:00 PM It’s only been a year since 19-year-old Taylor Van Zant started up a website dedicated to promoting new bands, and in that time thousands have had a chance to get their fill of indie music.
“It’s something we started up awhile ago,” said the UBC Okanagan student. “Basically, my mum used to have an greeting card company and I was into music, so I started writing my own stuff, and compiling music so we could send out music on a greeting card.”
With time, that developed into a site where indie bands could send out their music to multiple sources, almost effortlessly.
Van Sant explained that the service, at this point, isn’t income generating so much as it is a free way for up and coming bands to advertise and promote their own sound.
Bands can upload their music—so long as it’s in MP3 format— and they can send it up to 10 people at a time.
“It’s a good way to spread around what you are doing with your music. All the indie bands can send their music out without having to sending out huge files—and it’s free.”
For the past year, Van Sant and his mother have been working on building up the network, which at this time is 2,000 members strong.
“We have a band of the week and we promote anyone who sends their music out the most,” he explained.
“We keep a daily post of what bands are sending out their music, and we update our Myspace page to have more bands sign up and check it out.”
Once they’re better established they intend to make the service membership driven with ties to other music sites and labels, as well as some advertisement links.
Van Sant said that the types of music on the site vary from acoustic to hip hop, rap and dance.
“We have pretty much whatever you can think of— there are underground bands for every style of music.”\
To see what the site is all about, go to www.mp3musicgrams.com
kmichaels@kelownacapnews.com
Thursday, February 28, 2008
Forrester: Digital Music To Surpass CD Sales By 2012
Forrester: Digital Music To Surpass CD Sales By 2012
Cambridge, Mass., February 19, 2008 . . . Half of all music sold in the US will be digital in 2011 and sales of digitally downloaded music will surpass physical CD sales in 2012, according to a new report by Forrester Research, Inc. (Nasdaq: FORR). Digital music sales will grow at a compound annual growth rate of 23 percent over the next five years, reaching $4.8 billion in revenue by 2012, but will fail to make up for the continuing steady decline in CD sales. In 2012, CD sales will be reduced to just $3.8 billion.
"This is the end of the music industry as we know it," said Forrester Research Vice President and Principal Analyst James L. McQuivey. "Media executives eager to stay afloat in this receding tide must clear the path of discovery and purchase, but only hardware and software providers can ultimately make listening to music as easy as turning on the radio."
The Forrester report is based in part on a survey of more than 5,000 consumers in the US and Canada. Among the drivers of Forrester's five-year forecast for music sales:
MP3 player adoption. The average MP3 player is only 57 percent full, suggesting that the devices are underutilized, while more of the devices are being bought by households with more than one MP3 player. Moving forward, a majority of MP3 players will be sold to households that already have one. DRM-free music. With the four big music labels now committed to eliminating digital rights management (DRM), DRM-free music will extend beyond pioneer Amazon.com to Apple iTunes and the other major online music sites. Social networks. DRM-free music enables every profile page on MySpace.com or Facebook to immediately become a music store where friends sell friends their favorite tracks. Forrester believes digital downloads are the logistical mass market for the future, satisfying all the needs that people have when it comes to music — easy to find, easy to buy, and easy to listen to, regardless of the device. On the other hand, subscription music services will show modest growth, reaching just $459 million in revenue in 2012 according to Forrester's projections, while experiments in ad-supported downloads will be silenced by the powerful combination of DRM-free music and on-demand music streaming on sites like imeem.com.
"The industry has to redefine what its product is," said McQuivey. "Music executives have spent years tracking CD sales. But the artist is the product — not just the source of it. New forms of revenue will come from unexpected sources. For example, the industry has failed to capitalize on the growing popularity of video games such as Guitar Hero and Rock Band. In a market where musicians are happy to sell a million copies of a CD, a video game market where titles can sell five million copies is enough to motivate even the most depressed music executive."
"The End Of The Music Industry As We Know It" is currently available to Forrester RoleView™ clients and can also be purchased directly at www.forrester.com.
About Forrester Research
Forrester Research, Inc. (Nasdaq: FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs. For more information, visit www.forrester.com.
Contact:
Tracy SullivanSenior Public Relations SpecialistForrester Research, Inc.+1 617.613.6023press@forrester.com
Cambridge, Mass., February 19, 2008 . . . Half of all music sold in the US will be digital in 2011 and sales of digitally downloaded music will surpass physical CD sales in 2012, according to a new report by Forrester Research, Inc. (Nasdaq: FORR). Digital music sales will grow at a compound annual growth rate of 23 percent over the next five years, reaching $4.8 billion in revenue by 2012, but will fail to make up for the continuing steady decline in CD sales. In 2012, CD sales will be reduced to just $3.8 billion.
"This is the end of the music industry as we know it," said Forrester Research Vice President and Principal Analyst James L. McQuivey. "Media executives eager to stay afloat in this receding tide must clear the path of discovery and purchase, but only hardware and software providers can ultimately make listening to music as easy as turning on the radio."
The Forrester report is based in part on a survey of more than 5,000 consumers in the US and Canada. Among the drivers of Forrester's five-year forecast for music sales:
MP3 player adoption. The average MP3 player is only 57 percent full, suggesting that the devices are underutilized, while more of the devices are being bought by households with more than one MP3 player. Moving forward, a majority of MP3 players will be sold to households that already have one. DRM-free music. With the four big music labels now committed to eliminating digital rights management (DRM), DRM-free music will extend beyond pioneer Amazon.com to Apple iTunes and the other major online music sites. Social networks. DRM-free music enables every profile page on MySpace.com or Facebook to immediately become a music store where friends sell friends their favorite tracks. Forrester believes digital downloads are the logistical mass market for the future, satisfying all the needs that people have when it comes to music — easy to find, easy to buy, and easy to listen to, regardless of the device. On the other hand, subscription music services will show modest growth, reaching just $459 million in revenue in 2012 according to Forrester's projections, while experiments in ad-supported downloads will be silenced by the powerful combination of DRM-free music and on-demand music streaming on sites like imeem.com.
"The industry has to redefine what its product is," said McQuivey. "Music executives have spent years tracking CD sales. But the artist is the product — not just the source of it. New forms of revenue will come from unexpected sources. For example, the industry has failed to capitalize on the growing popularity of video games such as Guitar Hero and Rock Band. In a market where musicians are happy to sell a million copies of a CD, a video game market where titles can sell five million copies is enough to motivate even the most depressed music executive."
"The End Of The Music Industry As We Know It" is currently available to Forrester RoleView™ clients and can also be purchased directly at www.forrester.com.
About Forrester Research
Forrester Research, Inc. (Nasdaq: FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs. For more information, visit www.forrester.com.
Contact:
Tracy SullivanSenior Public Relations SpecialistForrester Research, Inc.+1 617.613.6023press@forrester.com
Monday, February 25, 2008
Global Online Music Sales to Total US$8.9 Billion By 2010, According to a New Report by Global Industry Analysts, Inc.
Global Online Music Sales to Total US$8.9 Billion By 2010, According to a New Report by Global Industry Analysts, Inc.
The growing popularity, deployment and acceptance of digital music continues to contribute to the substantial growth in the online music industry. The epic dimensions of worldwide digital music industry continue to evolve as the highly touted 3G mobile phones, portable digital music players and broadband Internet finally see the light of day, throwing up opportunities for further growth in the market.
San Jose, California -February 25, 2008 -- As Internet gains popularity, a new strain of market forces emerged to shape growth and success in the now altered marketplace. In this regard, technology, and business models are being transformed, and developed to complement, and foster the take up of new services. The swift and enthusiastic uptake of downloading music directly onto mobile phone or PC has provided a cushion against ebbing revenues in retail music industry worldwide. The worldwide Online Music market is expected to witness rapid growth over the review period to reach US$8.9 billion in sales by 2010. The extent of growth in the worldwide online music industry can be gauzed from the fact that downloaded music revenues exceeded online sales of physical media during 2006. The widespread availability of legal web sites is a major factor contributing to the increased sales in this industry. The advent of new and sophisticated technologies and devices such as portable digital devices are expected to bolster sales in the online music industry. Growing penetration of Internet services and broadband among household consumers is also expected to push up the revenue generation capabilities of the online music industry.
Despite the strong growth, the online music industry faces challenges in the form of illegal file swapping services, price erosion due to intense competition and infrastructure hurdles. Uncontrolled growth of digital industry poses several challenges for the music industry. Extensive violation of copyright, poor interoperability of devices and files, and digital stream ripping are some problems faced in the online music industry.
Online Music: A Global Strategic Business Report The worldwide music industry was dominated by the presence of large labels such as Warners, Universal, EMI and Sony BMG, which captured a large chuck of the overall industry sales. However, the advent of Internet and online music has transformed the scenario, thereby contributing to proliferation of diverse worldwide music. Greater accessibility through Internet allowed independent and foreign artists to come close and compete with well-established music brands. The online music industry is currently witnessing increased consolidation activity, as existing players seek to fortify their presence through acquisitions, mergers or strategic collaborations. To deal with the intense competition, market participants are forging marketing alliances across diverse sectors.
The US dominates the global online music industry, which can be attributed to high levels of Internet penetration and availability of advanced digital technologies and devices. Adoption of broadband services and digitization of music with introduction of portable digital music players, represent two of the industry's major push factors. The US generated about US$2.7 billion in sales for 2007, as stated by Global Industry Analysts, Inc. Asia-Pacific is, however, expected to drive future growth in the global market, increasing at a compounded annual growth rate of 48% over the forecast period. In the United States, hard format segment is projected to dominate the market, capturing over 44% share of the sales by 2010. The European online music market witnessed a major turnaround in 2006 as the consumer spending increased by more than 100% during the year. Though piracy is the prime factor for ebbing retail music sales, replacement of shelf space dedicated for music with DVDs, games, mobile phones and books in major retailers also had a significant impact. one-off downloads segment dominates sales in the Asia-Pacific region reaching US$533 million in 2007.
The report titled "Online Music: A Global Strategic Business Report" published by Global Industry Analysts, Inc., offers a comprehensive analysis of the industry structure, market drivers, issues, trends and competition. The study analyzes recent past, current and future market data and analytics over the period 2004-2010 and long term projections (2011-2015) for regions such as the United States, Canada, Japan, Europe, Asia-Pacific and Rest of World.
The report reviews key players in the global and regional online music participants including Buongiorno Vitaminic SpA, eMusic.com Inc., iTunes, RealNetworks, Inc., Musicmatch, MusicNet, Inc., MTV Networks, OD2, Napster, Ecast, Inc. and Yahoo! Music Unlimited.
For more details about this research report, please http://www.strategyr.com/Online_Music_Market_Report.asp
About Global Industry Analysts, Inc.Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.Telephone 408-528-9966Fax 408-528-9977 Email press@StrategyR.comWeb Site www.StrategyR.com
The growing popularity, deployment and acceptance of digital music continues to contribute to the substantial growth in the online music industry. The epic dimensions of worldwide digital music industry continue to evolve as the highly touted 3G mobile phones, portable digital music players and broadband Internet finally see the light of day, throwing up opportunities for further growth in the market.
San Jose, California -February 25, 2008 -- As Internet gains popularity, a new strain of market forces emerged to shape growth and success in the now altered marketplace. In this regard, technology, and business models are being transformed, and developed to complement, and foster the take up of new services. The swift and enthusiastic uptake of downloading music directly onto mobile phone or PC has provided a cushion against ebbing revenues in retail music industry worldwide. The worldwide Online Music market is expected to witness rapid growth over the review period to reach US$8.9 billion in sales by 2010. The extent of growth in the worldwide online music industry can be gauzed from the fact that downloaded music revenues exceeded online sales of physical media during 2006. The widespread availability of legal web sites is a major factor contributing to the increased sales in this industry. The advent of new and sophisticated technologies and devices such as portable digital devices are expected to bolster sales in the online music industry. Growing penetration of Internet services and broadband among household consumers is also expected to push up the revenue generation capabilities of the online music industry.
Despite the strong growth, the online music industry faces challenges in the form of illegal file swapping services, price erosion due to intense competition and infrastructure hurdles. Uncontrolled growth of digital industry poses several challenges for the music industry. Extensive violation of copyright, poor interoperability of devices and files, and digital stream ripping are some problems faced in the online music industry.
Online Music: A Global Strategic Business Report The worldwide music industry was dominated by the presence of large labels such as Warners, Universal, EMI and Sony BMG, which captured a large chuck of the overall industry sales. However, the advent of Internet and online music has transformed the scenario, thereby contributing to proliferation of diverse worldwide music. Greater accessibility through Internet allowed independent and foreign artists to come close and compete with well-established music brands. The online music industry is currently witnessing increased consolidation activity, as existing players seek to fortify their presence through acquisitions, mergers or strategic collaborations. To deal with the intense competition, market participants are forging marketing alliances across diverse sectors.
The US dominates the global online music industry, which can be attributed to high levels of Internet penetration and availability of advanced digital technologies and devices. Adoption of broadband services and digitization of music with introduction of portable digital music players, represent two of the industry's major push factors. The US generated about US$2.7 billion in sales for 2007, as stated by Global Industry Analysts, Inc. Asia-Pacific is, however, expected to drive future growth in the global market, increasing at a compounded annual growth rate of 48% over the forecast period. In the United States, hard format segment is projected to dominate the market, capturing over 44% share of the sales by 2010. The European online music market witnessed a major turnaround in 2006 as the consumer spending increased by more than 100% during the year. Though piracy is the prime factor for ebbing retail music sales, replacement of shelf space dedicated for music with DVDs, games, mobile phones and books in major retailers also had a significant impact. one-off downloads segment dominates sales in the Asia-Pacific region reaching US$533 million in 2007.
The report titled "Online Music: A Global Strategic Business Report" published by Global Industry Analysts, Inc., offers a comprehensive analysis of the industry structure, market drivers, issues, trends and competition. The study analyzes recent past, current and future market data and analytics over the period 2004-2010 and long term projections (2011-2015) for regions such as the United States, Canada, Japan, Europe, Asia-Pacific and Rest of World.
The report reviews key players in the global and regional online music participants including Buongiorno Vitaminic SpA, eMusic.com Inc., iTunes, RealNetworks, Inc., Musicmatch, MusicNet, Inc., MTV Networks, OD2, Napster, Ecast, Inc. and Yahoo! Music Unlimited.
For more details about this research report, please http://www.strategyr.com/Online_Music_Market_Report.asp
About Global Industry Analysts, Inc.Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.Telephone 408-528-9966Fax 408-528-9977 Email press@StrategyR.comWeb Site www.StrategyR.com
Wednesday, January 30, 2008
“High School Musical” Video Game Franchise Coming This Spring
Disney Interactive Studios Invites Fans to “Work This Out” With the Latest Addition to Its Successful “High School Musical” Video Game Franchise Coming This Spring Disney Has Shipped 3.8 Million Units of “High School Musical” Themed Video Games Worldwide
BURBANK, Calif.--January 30, 2008 --Disney Interactive Studios, the interactive entertainment affiliate of The Walt Disney Company (NYSE:DIS), announced today that the newest video game in the “High School Musical” franchise – High School Musical: Work This Out! for Nintendo DS™ will be available April 2008. High School Musical: Work This Out! allows fans of the popular Disney Channel movies to dive into the world of the Lava Springs Resort in an all new musical adventure game, featuring storylines extending beyond “High School Musical 2.” For the first time on Nintendo DS, High School Musical: Work This Out! features all 10 songs from the movie, and allows players to take their favorite songs from the film on-the-go by using the Nintendo DS as a music player. This unique feature lets players listen to their favorite “High School Musical 2” songs even while the Nintendo DS is closed.
High School Musical: Work This Out! follows the extremely successful launch of High School Musical: Sing It!, High School Musical: Makin’ the Cut and High School Musical: Living the Dream this past holiday season. Across all titles and platforms in the franchise, Disney Interactive Studios has shipped 3.8 million copies of the video games worldwide. According to NPD data for the U.S., the “High School Musical” video games achieved Top 20 positions on each published platform for the month of December 2007. High School Musical: Sing It!, a karaoke-themed video game featuring songs from both “High School Musical” films, ranked as the #6 top selling Wii™ home video game system title and #11 selling PlayStation®2 computer entertainment system title. High School Musical: Makin’ the Cut, a rhythm-based music and adventure game, ranked #10 for Nintendo DS. High School Musical: Living the Dream ranked #5 among the GameBoy® Advance titles for the same month.
“The phenomenon of ‘High School Musical’ goes beyond simply watching the movies,” said Craig Relyea, senior vice president, global marketing, Disney Interactive Studios. “The success of the video game franchise proves that fans want to immerse themselves in the world of ‘High School Musical,’ whether they are singing the songs or embarking on adventures with the cast. This new experience once again underscores Disney’s passion to provide fans with unparalleled entertainment as they wait for ‘High School Musical 3’ to arrive, which will also usher in a new generation of video games this holiday season.”
High School Musical: Work This Out!, due out in April, is the only musical adventure game allowing fans to immerse themselves in the world of “High School Musical 2.” Fans can play as their favorite High School Musical characters Troy, Gabriella, Sharpay, Ryan, Chad and Taylor to explore the Lava Springs Resort as seen in the movie. Throughout the game, players go on various adventures at the resort, compete in time-based challenges and play different rhythm games, all while listening to the hit songs from “High School Musical 2.”
High School Musical: Work This Out!, rated E for Everyone, will be available in April 2008 exclusively for Nintendo DS for $29.99.
About Disney Interactive Studios
Disney Interactive Studios is the interactive entertainment affiliate of The Walt Disney Company (NYSE:DIS). Disney Interactive Studios self publishes and distributes a broad portfolio of multi-platform video games and interactive entertainment worldwide. The company also licenses properties and works directly with other interactive game publishers to bring products for all ages to market. Disney Interactive Studios is based in Glendale, California and has five internal game development studios around the world including Avalanche Software, Fall Line Studio, Propaganda Games, Black Rock Studio and Junction Point Studios.
Contacts Disney Interactive StudiosMichelle Jacob, 818-553-6877michelle.jacob@disney.comorAccess Communications for Disney Interactive StudiosKatie Pagliara, 917-522-3531kpagliara@accesspr.com
BURBANK, Calif.--January 30, 2008 --Disney Interactive Studios, the interactive entertainment affiliate of The Walt Disney Company (NYSE:DIS), announced today that the newest video game in the “High School Musical” franchise – High School Musical: Work This Out! for Nintendo DS™ will be available April 2008. High School Musical: Work This Out! allows fans of the popular Disney Channel movies to dive into the world of the Lava Springs Resort in an all new musical adventure game, featuring storylines extending beyond “High School Musical 2.” For the first time on Nintendo DS, High School Musical: Work This Out! features all 10 songs from the movie, and allows players to take their favorite songs from the film on-the-go by using the Nintendo DS as a music player. This unique feature lets players listen to their favorite “High School Musical 2” songs even while the Nintendo DS is closed.
High School Musical: Work This Out! follows the extremely successful launch of High School Musical: Sing It!, High School Musical: Makin’ the Cut and High School Musical: Living the Dream this past holiday season. Across all titles and platforms in the franchise, Disney Interactive Studios has shipped 3.8 million copies of the video games worldwide. According to NPD data for the U.S., the “High School Musical” video games achieved Top 20 positions on each published platform for the month of December 2007. High School Musical: Sing It!, a karaoke-themed video game featuring songs from both “High School Musical” films, ranked as the #6 top selling Wii™ home video game system title and #11 selling PlayStation®2 computer entertainment system title. High School Musical: Makin’ the Cut, a rhythm-based music and adventure game, ranked #10 for Nintendo DS. High School Musical: Living the Dream ranked #5 among the GameBoy® Advance titles for the same month.
“The phenomenon of ‘High School Musical’ goes beyond simply watching the movies,” said Craig Relyea, senior vice president, global marketing, Disney Interactive Studios. “The success of the video game franchise proves that fans want to immerse themselves in the world of ‘High School Musical,’ whether they are singing the songs or embarking on adventures with the cast. This new experience once again underscores Disney’s passion to provide fans with unparalleled entertainment as they wait for ‘High School Musical 3’ to arrive, which will also usher in a new generation of video games this holiday season.”
High School Musical: Work This Out!, due out in April, is the only musical adventure game allowing fans to immerse themselves in the world of “High School Musical 2.” Fans can play as their favorite High School Musical characters Troy, Gabriella, Sharpay, Ryan, Chad and Taylor to explore the Lava Springs Resort as seen in the movie. Throughout the game, players go on various adventures at the resort, compete in time-based challenges and play different rhythm games, all while listening to the hit songs from “High School Musical 2.”
High School Musical: Work This Out!, rated E for Everyone, will be available in April 2008 exclusively for Nintendo DS for $29.99.
About Disney Interactive Studios
Disney Interactive Studios is the interactive entertainment affiliate of The Walt Disney Company (NYSE:DIS). Disney Interactive Studios self publishes and distributes a broad portfolio of multi-platform video games and interactive entertainment worldwide. The company also licenses properties and works directly with other interactive game publishers to bring products for all ages to market. Disney Interactive Studios is based in Glendale, California and has five internal game development studios around the world including Avalanche Software, Fall Line Studio, Propaganda Games, Black Rock Studio and Junction Point Studios.
Contacts Disney Interactive StudiosMichelle Jacob, 818-553-6877michelle.jacob@disney.comorAccess Communications for Disney Interactive StudiosKatie Pagliara, 917-522-3531kpagliara@accesspr.com
Tuesday, January 22, 2008
Apple Reports First Quarter Results
Apple Reports First Quarter Results
Best Quarterly Revenue & Earnings in Apple History Mac, iPod & iPhone Sales Break Previous Records
CUPERTINO, Calif., Jan. 22 2008 -- Apple® today announced financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compare to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter. International sales accounted for 45 percent of the quarter's revenue. Apple shipped 2,319,000 Macintosh® computers, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The Company sold 22,121,000 iPods during the quarter, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone(TM) sales were 2,315,000.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks."
"Apple's revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter's record-breaking results," said Peter Oppenheimer, Apple's CFO. "Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $.94."
Apple will provide live streaming of its Q1 2008 financial results conference call utilizing QuickTime®, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PST on Tuesday, January 22, 2008 at http://www.apple.com/quicktime/qtv/earningsq108/ and will also be available for replay.
This press release contains forward-looking statements about the Company's estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include potential litigation and government enforcement actions that may result from the matters investigated by the special committee of the board of directors and the restatement of the Company's consolidated financial statements; unfavorable results of legal proceedings; the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions with respect to the Company's products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the Company's reliance on sole service providers for iPhone in the US, UK, Germany and France; the continued availability on acceptable terms of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company's gross margin; the effect that product quality problems could have on the Company's sales and operating profits; the inventory risk associated with the Company's need to order or commit to order product components in advance of customer orders; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company's dependency on the performance of distributors and other resellers of the Company's products; the Company's reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 29, 2007 and its Form 10-Q for the quarter ended December 29, 2007 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
© 2008 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and QuickTime are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months Ended December 29, 2007 December 30, 2006
Net sales $9,608 $7,115 Cost of sales (1) 6,276 4,895 Gross margin 3,332 2,220 Operating expenses: Research and development (1) 246 184 Selling, general and administrative (1) 960 714
Total operating expenses 1,206 898
Operating income 2,126 1,322
Other income and expense 200 126
Income before provision for income taxes 2,326 1,448
Provision for income taxes 745 444
Net income $1,581 $1,004
Earnings per common share: Basic $1.81 $1.17 Diluted $1.76 $1.14
Shares used in computing earnings per share (in thousands): Basic 875,860 857,691 Diluted 900,054 883,297
(1) Includes stock-based compensation expense as follows: Cost of sales $18 $6 Research and development $39 $16 Selling, general and administrative $53 $24
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share amounts)
December 29, 2007 September 29, 2007
ASSETS:
Current assets: Cash and cash equivalents $9,162 $9,352 Short-term investments 9,286 6,034 Accounts receivable, less allowances of $45 and $47, respectively 1,939 1,637 Inventories 459 346 Deferred tax assets 993 782 Other current assets 4,350 3,805 Total current assets 26,189 21,956
Property, plant and equipment, net 1,870 1,832 Goodwill 38 38 Acquired intangible assets, net 311 299 Other assets 1,631 1,222
Total assets $30,039 $25,347
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities: Accounts payable $5,366 $4,970 Accrued expenses 5,169 4,329 Total current liabilities 10,535 9,299 Non-current liabilities 2,700 1,516 Total liabilities 13,235 10,815
Commitments and contingencies
Shareholders' equity: Common stock, no par value; 1,800,000,000 shares authorized; 878,628,867 and 872,328,972 shares issued and outstanding, respectively 6,046 5,368 Retained earnings 10,684 9,101 Accumulated other comprehensive income 74 63
Total shareholders' equity 16,804 14,532
Total liabilities and shareholders' equity $30,039 $25,347
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Three Months Ended December 29, 2007 December 30, 2006
Cash and cash equivalents, beginning of the period $9,352 $6,392 Operating Activities: Net income 1,581 1,004 Adjustments to reconcile net income to cash generated by operating activities: Depreciation, amortization, and accretion 106 74 Stock-based compensation expense 110 46 Provision for deferred income taxes 22 73 Loss on disposition of property, plant, and equipment 14 5 Changes in operating assets and liabilities: Accounts receivable, net (302) (369) Inventories (113) (33) Other current assets (550) 36 Other assets (253) 28 Accounts payable 484 495 Deferred revenue 1,048 199 Other liabilities 640 255
Cash generated by operating activities 2,787 1,813
Investing Activities: Purchases of short-term investments (6,127) (2,581) Proceeds from maturities of short-term investments 2,129 934 Proceeds from sales of investments 758 655 Purchases of long-term investments (9) - Payment for acquisition of property, plant, and equipment (224) (142) Payment for acquisition of intangible assets (8) (115) Other 19 15
Cash used in investing activities (3,462) (1,234)
Financing Activities: Proceeds from issuance of common stock 179 101 Excess tax benefits from stock-based compensation 315 87 Cash used to net share settle equity awards (9) -
Cash generated by financing activities 485 188
(Decrease) increase in cash and cash equivalents (190) 767
Cash and cash equivalents, end of the period $9,162 $7,159
Supplemental cash flow disclosure: Cash paid for income taxes, net $251 $114
UNAUDITED CONSOLIDATED SCHEDULE OF DEFERRED REVENUE
(in millions)
December 29, 2007 September 29, 2007
Deferred revenue-current: iPhone and Apple TV $816 $346 AppleCare 467 430 Other 812 634 Total deferred revenue-current 2,095 1,410
Deferred revenue-non-current: iPhone and Apple TV 624 290 AppleCare 529 495 Other 40 45 Total deferred revenue-non-current 1,193 830
Total deferred revenue $3,288 $2,240
Apple Inc. Q1 2008 Unaudited Summary Data
Q4 2007 Q1 2007 Q1 2008 CPU Rev CPU Rev CPU Rev Operating Segments Units K $M Units K $M Units K $M Americas 965 $2,928 625 $3,521 841 $4,298 Europe 499 1,339 491 1,712 705 2,471 Japan 72 255 70 285 91 400 Retail 473 1,251 308 1,115 504 1,701 Other Segments (1) 155 444 112 482 178 738
Total Operating Segments 2,164 $6,217 1,606 $7,115 2,319 $9,608
Rev Rev Rev Units K $M Units K $M Units K $M Product Summary Desktops (2) 817 $1,195 637 $955 977 $1,515 Portables (3) 1,347 1,908 969 1,455 1,342 2,037 Subtotal CPUs 2,164 3,103 1,606 2,410 2,319 3,552 iPod 10,200 1,619 21,066 3,427 22,121 3,997 Other Music Related Products and Services (4) 601 634 808 iPhone and Related Products & Services (5) 1,119 118 - - 2,315 241 Peripherals and Other Hardware 346 297 382 Software, Service and Other Sales 430 347 628 Total Apple $6,217 $7,115 $9,608
Sequential Change Year/Year Change CPU CPU Operating Segments Units Revenue Units Revenue Americas -13% 47% 35% 22% Europe 41% 85% 44% 44% Japan 26% 57% 30% 40% Retail 7% 36% 64% 53% Other Segments (1) 15% 66% 59% 53% Total Operating Segments 7% 55% 44% 35%
Sequential Change Year/Year Change Units Revenue Units Revenue
Product Summary Desktops (2) 20% 27% 53% 59% Portables (3) - 0% 7% 38% 40% Subtotal CPUs 7% 14% 44% 47% iPod 117% 147% 5% 17% Other Music Related Products and Services (4) 34% 27% iPhone and Related Products & Services (5) 107% 104% NM NM Peripherals and Other Hardware 10% 29% Software, Service and Other Sales 46% 81% Total Apple 55% 35%
(1) Other Segments include Asia Pacific and FileMaker. (2) Includes iMac, eMac, Mac mini, Mac Pro, PowerMac and Xserve product lines. (3) Includes MacBook, iBook, MacBook Pro and PowerBook product lines. (4) Consists of iTunes Store sales, iPod services, and Apple-branded and third-party iPod accessories. (5) Units consist of iPhone handset sales; Revenue is derived from handset sales, carrier agreements, and Apple-branded and third-party iPhone accessories.
NM: Not Meaningful
--Source: Apple
Best Quarterly Revenue & Earnings in Apple History Mac, iPod & iPhone Sales Break Previous Records
CUPERTINO, Calif., Jan. 22 2008 -- Apple® today announced financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compare to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter. International sales accounted for 45 percent of the quarter's revenue. Apple shipped 2,319,000 Macintosh® computers, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The Company sold 22,121,000 iPods during the quarter, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone(TM) sales were 2,315,000.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks."
"Apple's revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter's record-breaking results," said Peter Oppenheimer, Apple's CFO. "Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $.94."
Apple will provide live streaming of its Q1 2008 financial results conference call utilizing QuickTime®, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PST on Tuesday, January 22, 2008 at http://www.apple.com/quicktime/qtv/earningsq108/ and will also be available for replay.
This press release contains forward-looking statements about the Company's estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include potential litigation and government enforcement actions that may result from the matters investigated by the special committee of the board of directors and the restatement of the Company's consolidated financial statements; unfavorable results of legal proceedings; the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions with respect to the Company's products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the Company's reliance on sole service providers for iPhone in the US, UK, Germany and France; the continued availability on acceptable terms of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company's gross margin; the effect that product quality problems could have on the Company's sales and operating profits; the inventory risk associated with the Company's need to order or commit to order product components in advance of customer orders; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company's dependency on the performance of distributors and other resellers of the Company's products; the Company's reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 29, 2007 and its Form 10-Q for the quarter ended December 29, 2007 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
© 2008 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and QuickTime are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months Ended December 29, 2007 December 30, 2006
Net sales $9,608 $7,115 Cost of sales (1) 6,276 4,895 Gross margin 3,332 2,220 Operating expenses: Research and development (1) 246 184 Selling, general and administrative (1) 960 714
Total operating expenses 1,206 898
Operating income 2,126 1,322
Other income and expense 200 126
Income before provision for income taxes 2,326 1,448
Provision for income taxes 745 444
Net income $1,581 $1,004
Earnings per common share: Basic $1.81 $1.17 Diluted $1.76 $1.14
Shares used in computing earnings per share (in thousands): Basic 875,860 857,691 Diluted 900,054 883,297
(1) Includes stock-based compensation expense as follows: Cost of sales $18 $6 Research and development $39 $16 Selling, general and administrative $53 $24
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share amounts)
December 29, 2007 September 29, 2007
ASSETS:
Current assets: Cash and cash equivalents $9,162 $9,352 Short-term investments 9,286 6,034 Accounts receivable, less allowances of $45 and $47, respectively 1,939 1,637 Inventories 459 346 Deferred tax assets 993 782 Other current assets 4,350 3,805 Total current assets 26,189 21,956
Property, plant and equipment, net 1,870 1,832 Goodwill 38 38 Acquired intangible assets, net 311 299 Other assets 1,631 1,222
Total assets $30,039 $25,347
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities: Accounts payable $5,366 $4,970 Accrued expenses 5,169 4,329 Total current liabilities 10,535 9,299 Non-current liabilities 2,700 1,516 Total liabilities 13,235 10,815
Commitments and contingencies
Shareholders' equity: Common stock, no par value; 1,800,000,000 shares authorized; 878,628,867 and 872,328,972 shares issued and outstanding, respectively 6,046 5,368 Retained earnings 10,684 9,101 Accumulated other comprehensive income 74 63
Total shareholders' equity 16,804 14,532
Total liabilities and shareholders' equity $30,039 $25,347
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Three Months Ended December 29, 2007 December 30, 2006
Cash and cash equivalents, beginning of the period $9,352 $6,392 Operating Activities: Net income 1,581 1,004 Adjustments to reconcile net income to cash generated by operating activities: Depreciation, amortization, and accretion 106 74 Stock-based compensation expense 110 46 Provision for deferred income taxes 22 73 Loss on disposition of property, plant, and equipment 14 5 Changes in operating assets and liabilities: Accounts receivable, net (302) (369) Inventories (113) (33) Other current assets (550) 36 Other assets (253) 28 Accounts payable 484 495 Deferred revenue 1,048 199 Other liabilities 640 255
Cash generated by operating activities 2,787 1,813
Investing Activities: Purchases of short-term investments (6,127) (2,581) Proceeds from maturities of short-term investments 2,129 934 Proceeds from sales of investments 758 655 Purchases of long-term investments (9) - Payment for acquisition of property, plant, and equipment (224) (142) Payment for acquisition of intangible assets (8) (115) Other 19 15
Cash used in investing activities (3,462) (1,234)
Financing Activities: Proceeds from issuance of common stock 179 101 Excess tax benefits from stock-based compensation 315 87 Cash used to net share settle equity awards (9) -
Cash generated by financing activities 485 188
(Decrease) increase in cash and cash equivalents (190) 767
Cash and cash equivalents, end of the period $9,162 $7,159
Supplemental cash flow disclosure: Cash paid for income taxes, net $251 $114
UNAUDITED CONSOLIDATED SCHEDULE OF DEFERRED REVENUE
(in millions)
December 29, 2007 September 29, 2007
Deferred revenue-current: iPhone and Apple TV $816 $346 AppleCare 467 430 Other 812 634 Total deferred revenue-current 2,095 1,410
Deferred revenue-non-current: iPhone and Apple TV 624 290 AppleCare 529 495 Other 40 45 Total deferred revenue-non-current 1,193 830
Total deferred revenue $3,288 $2,240
Apple Inc. Q1 2008 Unaudited Summary Data
Q4 2007 Q1 2007 Q1 2008 CPU Rev CPU Rev CPU Rev Operating Segments Units K $M Units K $M Units K $M Americas 965 $2,928 625 $3,521 841 $4,298 Europe 499 1,339 491 1,712 705 2,471 Japan 72 255 70 285 91 400 Retail 473 1,251 308 1,115 504 1,701 Other Segments (1) 155 444 112 482 178 738
Total Operating Segments 2,164 $6,217 1,606 $7,115 2,319 $9,608
Rev Rev Rev Units K $M Units K $M Units K $M Product Summary Desktops (2) 817 $1,195 637 $955 977 $1,515 Portables (3) 1,347 1,908 969 1,455 1,342 2,037 Subtotal CPUs 2,164 3,103 1,606 2,410 2,319 3,552 iPod 10,200 1,619 21,066 3,427 22,121 3,997 Other Music Related Products and Services (4) 601 634 808 iPhone and Related Products & Services (5) 1,119 118 - - 2,315 241 Peripherals and Other Hardware 346 297 382 Software, Service and Other Sales 430 347 628 Total Apple $6,217 $7,115 $9,608
Sequential Change Year/Year Change CPU CPU Operating Segments Units Revenue Units Revenue Americas -13% 47% 35% 22% Europe 41% 85% 44% 44% Japan 26% 57% 30% 40% Retail 7% 36% 64% 53% Other Segments (1) 15% 66% 59% 53% Total Operating Segments 7% 55% 44% 35%
Sequential Change Year/Year Change Units Revenue Units Revenue
Product Summary Desktops (2) 20% 27% 53% 59% Portables (3) - 0% 7% 38% 40% Subtotal CPUs 7% 14% 44% 47% iPod 117% 147% 5% 17% Other Music Related Products and Services (4) 34% 27% iPhone and Related Products & Services (5) 107% 104% NM NM Peripherals and Other Hardware 10% 29% Software, Service and Other Sales 46% 81% Total Apple 55% 35%
(1) Other Segments include Asia Pacific and FileMaker. (2) Includes iMac, eMac, Mac mini, Mac Pro, PowerMac and Xserve product lines. (3) Includes MacBook, iBook, MacBook Pro and PowerBook product lines. (4) Consists of iTunes Store sales, iPod services, and Apple-branded and third-party iPod accessories. (5) Units consist of iPhone handset sales; Revenue is derived from handset sales, carrier agreements, and Apple-branded and third-party iPhone accessories.
NM: Not Meaningful
--Source: Apple
Tuesday, December 04, 2007
MySpace Launches New Music Program Empowering Top Artists to Record and Sell Content
MySpace Launches New Music Program Empowering Top Artists to Record and Sell Content Exclusively on MySpace Multi-Platinum Custard/Atlantic Recording Artist James Blunt Debuts ''MySpace Transmissions''
Leading Social Network Provides Exclusive On-Demand Video Content and Audio Content Available at www.MySpace.com/Transmissions
LOS ANGELES---December 04, 2007- MySpace (http://www.myspace.com), the world’s most popular social network, today announced the launch of “MySpace Transmissions” (http://www.myspace.com/transmissions), a music program that empowers top recording artists with a new platform to create and distribute exclusive video content available for viral distribution and audio tracks available for purchase in the U.S. MySpace Transmissions underscores the company’s commitment to building unique music programming and business models that benefit labels, bands, and fans.
MySpace Transmissions brings the online community behind the scenes and into the recording studio with a top artist to capture a private recording session for the MySpace community and shoot an exclusive video Q&A with the artist. The new program debuts with Grammy nominated multi-platinum Custard/Atlantic recording artist, James Blunt. Blunt recorded five tracks exclusively for the MySpace community including his new single "Same Mistake" and participated in a video Q&A available within the MySpace Transmissions profile and within MySpaceTV. Users worldwide are empowered by Warner Music Group's Atlantic Records to purchase the tracks through the MySpace Transmissions profile at http://www.myspace.com/transmissions.
“Transmissions allows me the great opportunity to connect directly with my fans,” said James Blunt. “Playing my new songs with the guys in the band and having fans able to hear them in a new and unique way is always what I am looking for. I am excited to be the first to launch this with MySpace.”
“Transmissions takes our existing music programming to the next level by creating a unique way to expose users to exclusive content while empowering artists and labels with a new way to generate revenue on MySpace,” said Josh Brooks, VP of Programming and Content for MySpace. “We’re committed to working with all stakeholders in the industry to develop monetization structures that work for labels, bands, and fans. Stay tuned—this is the tip of the iceberg in the evolution of MySpace Music.”
All content from MySpace Transmissions will be archived and available on-demand on the MySpace Transmissions profile and via MySpaceTV (http://www.myspacetv.com). Users will be able to add the content to their profiles and virally share the artists’ videos throughout the network, and purchase the audio tracks via MySpace. MySpace Transmissions represents a progressive music model that truly encourages artists and labels to generate revenue while still maintaining an organic and intimate connection with their fans.
MySpace Music centers around the more than six million major, indie, and unsigned artists that use their MySpace music profiles to communicate and intimately connect with fans and friends. Each music profile empowers artists to upload video content, blog, post tour dates, lyrics, and make their music available to fans for stream or download. As one of the most popular and most trafficked music platforms in the world, MySpace Music has evolved into an offline experience by connecting bands and fans around the world through various concert series and live events including Secret Shows, MySpaceLIVE, and The List.
Additional artists participating in MySpace Transmissions will be announced in the coming weeks.
About MySpace
MySpace, a unit of Fox Interactive Media Inc., is the premier lifestyle portal for connecting with friends, discovering popular culture, and making a positive impact on the world. By integrating web profiles, blogs, instant messaging, e-mail, music streaming, music videos, photo galleries, classified listings, events, groups, college communities, and member forums, MySpace has created a connected community. As the first ranked web domain in terms of page views(a), MySpace is the most widely-used and highly regarded site of its kind and is committed to providing the highest quality member experience. MySpace will continue to innovate with new features that allow its members to express their creativity and share their lives, both online and off. MySpace's international network includes 20 localized community sites in the United States, Canada, Latin America, Mexico, Australia, Finland, Germany, Italy, Norway, Sweden, Switzerland, UK, Denmark, France, Ireland, Netherlands, Spain, Austria, Japan and New Zealand. Fox Interactive Media is a division of News Corp. (NYSE:NWS) (NYSE:NWS.A) (ASX:NWS) (ASX:NWSLV).
(a) Among the top 2000 domains comScore Media Metrix, November 2007. For more information on comScore Networks, please go to http://www.comscore.com.
About James Blunt
Multi-platinum selling Custard/Atlantic recording artist James Blunt released his critically acclaimed second album, All the Lost Souls, in September 2007. The album, which was produced by Tom Rothrock, is the follow up to the 11 million selling Back to Bedlam. Blunt received 5 Grammy nominations, 2 MTV Video Music Awards and 2 Brit Awards for Back to Bedlam. Blunt kicks off his 2008 Lost Souls Tour in the U.S. in February.
Contacts MySpaceDani Dudeck, 310-969-7148ddudeck@myspace.comorTracy Akselrud, 310-969-2813takselrud@myspace.com
Leading Social Network Provides Exclusive On-Demand Video Content and Audio Content Available at www.MySpace.com/Transmissions
LOS ANGELES---December 04, 2007- MySpace (http://www.myspace.com), the world’s most popular social network, today announced the launch of “MySpace Transmissions” (http://www.myspace.com/transmissions), a music program that empowers top recording artists with a new platform to create and distribute exclusive video content available for viral distribution and audio tracks available for purchase in the U.S. MySpace Transmissions underscores the company’s commitment to building unique music programming and business models that benefit labels, bands, and fans.
MySpace Transmissions brings the online community behind the scenes and into the recording studio with a top artist to capture a private recording session for the MySpace community and shoot an exclusive video Q&A with the artist. The new program debuts with Grammy nominated multi-platinum Custard/Atlantic recording artist, James Blunt. Blunt recorded five tracks exclusively for the MySpace community including his new single "Same Mistake" and participated in a video Q&A available within the MySpace Transmissions profile and within MySpaceTV. Users worldwide are empowered by Warner Music Group's Atlantic Records to purchase the tracks through the MySpace Transmissions profile at http://www.myspace.com/transmissions.
“Transmissions allows me the great opportunity to connect directly with my fans,” said James Blunt. “Playing my new songs with the guys in the band and having fans able to hear them in a new and unique way is always what I am looking for. I am excited to be the first to launch this with MySpace.”
“Transmissions takes our existing music programming to the next level by creating a unique way to expose users to exclusive content while empowering artists and labels with a new way to generate revenue on MySpace,” said Josh Brooks, VP of Programming and Content for MySpace. “We’re committed to working with all stakeholders in the industry to develop monetization structures that work for labels, bands, and fans. Stay tuned—this is the tip of the iceberg in the evolution of MySpace Music.”
All content from MySpace Transmissions will be archived and available on-demand on the MySpace Transmissions profile and via MySpaceTV (http://www.myspacetv.com). Users will be able to add the content to their profiles and virally share the artists’ videos throughout the network, and purchase the audio tracks via MySpace. MySpace Transmissions represents a progressive music model that truly encourages artists and labels to generate revenue while still maintaining an organic and intimate connection with their fans.
MySpace Music centers around the more than six million major, indie, and unsigned artists that use their MySpace music profiles to communicate and intimately connect with fans and friends. Each music profile empowers artists to upload video content, blog, post tour dates, lyrics, and make their music available to fans for stream or download. As one of the most popular and most trafficked music platforms in the world, MySpace Music has evolved into an offline experience by connecting bands and fans around the world through various concert series and live events including Secret Shows, MySpaceLIVE, and The List.
Additional artists participating in MySpace Transmissions will be announced in the coming weeks.
About MySpace
MySpace, a unit of Fox Interactive Media Inc., is the premier lifestyle portal for connecting with friends, discovering popular culture, and making a positive impact on the world. By integrating web profiles, blogs, instant messaging, e-mail, music streaming, music videos, photo galleries, classified listings, events, groups, college communities, and member forums, MySpace has created a connected community. As the first ranked web domain in terms of page views(a), MySpace is the most widely-used and highly regarded site of its kind and is committed to providing the highest quality member experience. MySpace will continue to innovate with new features that allow its members to express their creativity and share their lives, both online and off. MySpace's international network includes 20 localized community sites in the United States, Canada, Latin America, Mexico, Australia, Finland, Germany, Italy, Norway, Sweden, Switzerland, UK, Denmark, France, Ireland, Netherlands, Spain, Austria, Japan and New Zealand. Fox Interactive Media is a division of News Corp. (NYSE:NWS) (NYSE:NWS.A) (ASX:NWS) (ASX:NWSLV).
(a) Among the top 2000 domains comScore Media Metrix, November 2007. For more information on comScore Networks, please go to http://www.comscore.com.
About James Blunt
Multi-platinum selling Custard/Atlantic recording artist James Blunt released his critically acclaimed second album, All the Lost Souls, in September 2007. The album, which was produced by Tom Rothrock, is the follow up to the 11 million selling Back to Bedlam. Blunt received 5 Grammy nominations, 2 MTV Video Music Awards and 2 Brit Awards for Back to Bedlam. Blunt kicks off his 2008 Lost Souls Tour in the U.S. in February.
Contacts MySpaceDani Dudeck, 310-969-7148ddudeck@myspace.comorTracy Akselrud, 310-969-2813takselrud@myspace.com
Monday, November 26, 2007
Guitar Hero III: Legends of Rock Wireless Guitar Controllers Hitting Retail Shelves in Early 2008
Guitar Hero III: Legends of Rock Wireless Guitar Controllers Hitting Retail Shelves in Early 2008
SANTA MONICA, Calif.--Activision, Inc. (Nasdaq:ATVI ) today announced that standalone wireless guitar controllers for Guitar Hero III: Legends of Rock will be available at retail stores nationwide by early 2008. Guitar Hero III: Legends of Rock lets fans thrash and burn with new wireless guitar controllers available for each platform, including exclusive Gibson Guitar's Les Paul model for the Xbox 360™ video game and entertainment system from Microsoft, Wii™ home video game system from Nintendo, and PLAYSTATION®3 computer entertainment system. PlayStation®2 gamers will also get to shred on an exclusive shape, Gibson’s Kramer guitar, popularized by hard rockers and known for its body design, pickups, electronics and construction for furious finger fretting.
About Gibson:
Gibson is known worldwide for producing classic models in every major style of fretted instrument, including acoustic and electric guitars, mandolins, and banjos. Gibson’s HD.6X-PRO Digital Guitar represents the biggest advance in electric guitar design in over 70 years. Founded in 1894 in Kalamazoo, Michigan, and headquartered in Nashville since 1984, Gibson Guitar Corp.’s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Gibson Baldwin Music Education, Slingerland, Valley Arts, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton, and Wurlitzer. Visit Gibson’s website at www.gibson.com or www.gibson.com/press.
About Activision
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $1.5 billion for the fiscal year ended March 31, 2007.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands, Australia, Japan and South Korea. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision’s expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release they are identified by references to dates after the date of this release and words such as “will,” “will be,” “remains,” “to be,” “plans,” “believes”, “may,” “expects,” “intends,” and similar expressions. These risks and uncertainties include, but are not limited to, sales of Activision’s titles, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, Activision’s ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision’s products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, customers, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities, limitations on our ability to issue stock and options and foreign exchange rate changes. Other factors that could cause Activision’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, without limitation, the further implementation, acceptance and effectiveness of the remedial measures recommended or adopted by the special sub-committee of independent directors established in July 2006 to review Activision’s historical stock option granting practices, the board and Activision; the outcome of the SEC’s formal investigation and the derivative litigation filed in July 2006 against certain current and former directors and officers of Activision relating to Activision’s stock option granting practices, the possibility that additional claims and proceedings will be commenced, including additional stockholder litigation, employee litigation, and additional action by the SEC and/or other regulatory agencies, other litigation (unrelated to stock option granting practices), and the risks identified in Activision’s most recent annual report on Form 10-K and recent reports on Form 8-K. The forward-looking statements in this release are based upon information available to Activision as of the date of this release, and Activision assumes no obligations to update any such forward-looking statement. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.
Guitar Hero has expanded well beyond video games and is one of the biggest entertainment franchises in the marketplace today. The franchise has remained the #1 best-selling franchise in the U.S. through October, according to the NPD Group. The Guitar Hero franchise has sold more than 6 million units worldwide to date, according to The NPD Group, Charttrack and Gfk.
Contact:Activision/RedOctane, Inc.Ryh-Ming Poon, PR Director, 310-255-2226rpoon@activision.com
Activision, Inc.
SANTA MONICA, Calif.--Activision, Inc. (Nasdaq:ATVI ) today announced that standalone wireless guitar controllers for Guitar Hero III: Legends of Rock will be available at retail stores nationwide by early 2008. Guitar Hero III: Legends of Rock lets fans thrash and burn with new wireless guitar controllers available for each platform, including exclusive Gibson Guitar's Les Paul model for the Xbox 360™ video game and entertainment system from Microsoft, Wii™ home video game system from Nintendo, and PLAYSTATION®3 computer entertainment system. PlayStation®2 gamers will also get to shred on an exclusive shape, Gibson’s Kramer guitar, popularized by hard rockers and known for its body design, pickups, electronics and construction for furious finger fretting.
About Gibson:
Gibson is known worldwide for producing classic models in every major style of fretted instrument, including acoustic and electric guitars, mandolins, and banjos. Gibson’s HD.6X-PRO Digital Guitar represents the biggest advance in electric guitar design in over 70 years. Founded in 1894 in Kalamazoo, Michigan, and headquartered in Nashville since 1984, Gibson Guitar Corp.’s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Gibson Baldwin Music Education, Slingerland, Valley Arts, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton, and Wurlitzer. Visit Gibson’s website at www.gibson.com or www.gibson.com/press.
About Activision
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $1.5 billion for the fiscal year ended March 31, 2007.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands, Australia, Japan and South Korea. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision’s expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release they are identified by references to dates after the date of this release and words such as “will,” “will be,” “remains,” “to be,” “plans,” “believes”, “may,” “expects,” “intends,” and similar expressions. These risks and uncertainties include, but are not limited to, sales of Activision’s titles, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, Activision’s ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision’s products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, customers, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities, limitations on our ability to issue stock and options and foreign exchange rate changes. Other factors that could cause Activision’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, without limitation, the further implementation, acceptance and effectiveness of the remedial measures recommended or adopted by the special sub-committee of independent directors established in July 2006 to review Activision’s historical stock option granting practices, the board and Activision; the outcome of the SEC’s formal investigation and the derivative litigation filed in July 2006 against certain current and former directors and officers of Activision relating to Activision’s stock option granting practices, the possibility that additional claims and proceedings will be commenced, including additional stockholder litigation, employee litigation, and additional action by the SEC and/or other regulatory agencies, other litigation (unrelated to stock option granting practices), and the risks identified in Activision’s most recent annual report on Form 10-K and recent reports on Form 8-K. The forward-looking statements in this release are based upon information available to Activision as of the date of this release, and Activision assumes no obligations to update any such forward-looking statement. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.
Guitar Hero has expanded well beyond video games and is one of the biggest entertainment franchises in the marketplace today. The franchise has remained the #1 best-selling franchise in the U.S. through October, according to the NPD Group. The Guitar Hero franchise has sold more than 6 million units worldwide to date, according to The NPD Group, Charttrack and Gfk.
Contact:Activision/RedOctane, Inc.Ryh-Ming Poon, PR Director, 310-255-2226rpoon@activision.com
Activision, Inc.
Monday, October 22, 2007
How do you like them Apples?
Apple Reports Fourth Quarter Results
Quarterly Mac Sales Set New Record Quarterly iPhone Sales Exceed One Million
CUPERTINO, Calif., Oct. 22 -- Apple® today announced financial results for its fiscal 2007 fourth quarter ended September 29, 2007. The Company posted revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share. These results compare to revenue of $4.84 billion and net quarterly profit of $542 million, or $.62 per diluted share, in the year-ago quarter. Gross margin was 33.6 percent, up from 29.2 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter's revenue.Apple shipped 2,164,000 Macintosh® computers, representing 34 percent growth over the year-ago quarter and exceeding the previous quarterly record for Mac® shipments by 400,000. The Company sold 10,200,000 iPods during the quarter, representing 17 percent growth over the year-ago quarter. Quarterly iPhone(TM) sales were 1,119,000, bringing cumulative fiscal 2007 sales to 1,389,000.
"We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007," said Steve Jobs, Apple's CEO. "We're looking forward to a strong December quarter as we enter the holiday season with Apple's best products ever."
"Apple ended the fiscal year with $15.4 billion in cash and no debt," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the first quarter of fiscal 2008, we expect revenue of about $9.2 billion and earnings per diluted share of about $1.42."
Apple will provide live streaming of its Q4 2007 financial results conference call utilizing QuickTime®, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Monday, October 22, 2007 at http://www.apple.com/quicktime/qtv/earningsq407/ and will also be available for replay.
This press release contains forward-looking statements about the Company's estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include potential litigation and government enforcement actions that may result from the matters investigated by the special committee of the board of directors and the restatement of the Company's consolidated financial statements; unfavorable results of legal proceedings; the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions with respect to the Company's products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the Company's reliance on sole service providers for iPhone in the U.S., U.K., Germany and France; the continued availability on acceptable terms of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company's gross margin; the effect that product quality problems could have on the Company's sales and operating profits; the inventory risk associated with the Company's need to order or commit to order product components in advance of customer orders; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company's dependency on the performance of distributors and other resellers of the Company's products; the Company's reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 30, 2006, its Forms 10-Q for the quarters ended December 30, 2006, March 31, 2007, and June 30, 2007, and its Form 10-K for the year ended September 29, 2007 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award- winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone.
© 2007 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and QuickTime are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share amounts)
September 29, September 30, 2007 2006 ASSETS: Current assets: Cash and cash equivalents $9,352 $6,392 Short-term investments 6,034 3,718 Accounts receivable, less allowances of $47 and $52, respectively 1,637 1,252 Inventories 346 270 Deferred tax assets 782 607 Other current assets 3,805 2,270 Total current assets 21,956 14,509
Property, plant and equipment, net 1,832 1,281 Goodwill 38 38 Acquired intangible assets, net 299 139 Other assets 1,222 1,238
Total assets $25,347 $17,205
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities: Accounts payable $4,970 $3,390 Accrued expenses 4,329 3,053 Total current liabilities 9,299 6,443 Non-current liabilities 1,516 778 Total liabilities 10,815 7,221
Commitments and contingencies
Shareholders' equity: Common stock, no par value; 1,800,000,000 shares authorized; 872,328,972 and 855,262,568 shares issued and outstanding, respectively 5,368 4,355 Retained earnings 9,101 5,607 Accumulated other comprehensive income 63 22 Total shareholders' equity 14,532 9,984
Total liabilities and shareholders' equity $25,347 $17,205
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months Ended Twelve Months Ended September September September September 29, 30, 29, 30, 2007 2006 2007 2006
Net sales $6,217 $4,837 $24,006 $19,315 Cost of sales (1) 4,127 3,425 15,852 13,717 Gross margin 2,090 1,412 8,154 5,598 Operating expenses: Research and development (1) 207 179 782 712 Selling, general, and administrative (1) 823 625 2,963 2,433
Total operating expenses 1,030 804 3,745 3,145
Operating income 1,060 608 4,409 2,453
Other income and expense 170 113 599 365
Income before provision for income taxes 1,230 721 5,008 2,818
Provision for income taxes 326 179 1,512 829
Net income $904 $542 $3,496 $1,989
Earnings per common share: Basic $1.04 $0.63 $4.04 $2.36 Diluted $1.01 $0.62 $3.93 $2.27
Shares used in computing earnings per share (in thousands): Basic 870,881 854,187 864,595 844,058 Diluted 895,666 878,757 889,292 877,526
(1) Stock-based compensation expense was allocated as follows: Cost of sales $10 $5 $35 $21 Research and development $21 $13 $77 $53 Selling, general, and administrative $37 $22 $130 $89
UNAUDITED CONSOLIDATED SCHEDULE OF DEFERRED REVENUE
(in millions)
September June March September 29, 30, 31, 30, 2007 2007 2007 2006 Deferred revenue-current: iPhone and Apple TV $346 $92 $10 $- AppleCare 430 399 373 333 Other 634 572 520 385 Total deferred revenue-current 1,410 1,063 903 718
Deferred revenue-non-current: iPhone and Apple TV 290 88 10 - AppleCare 495 435 392 355 Other 45 38 31 28 Total deferred revenue-non-current 830 561 43 383
Total deferred revenue $2,240 $1,624 $1,336 $1,101
Apple Inc. Q4 2007 Unaudited Summary Data
Q3 2007 Q4 2006 Q4 2007 CPU Rev CPU Rev CPU Rev Operating Segments Units K $M Units K $M Units K $M Americas 824 $2,680 781 $2,348 965 $2,928 Europe 393 1,160 342 988 499 1,339 Japan 81 258 62 286 72 255 Retail 330 915 323 884 473 1,251 Other Segments (1) 136 397 102 331 155 444 Total Operating Segments 1,764 $5,410 1,610 $4,837 2,164 $6,217
Rev Rev Rev Units K $M Units K $M Units K $M Product Summary Desktops (2) 634 $956 624 $869 817 $1,195 Portables (3) 1,130 1,577 986 1,344 1,347 1,908
Subtotal CPUs 1,764 2,533 1,610 2,213 2,164 3,103 iPod 9,815 1,570 8,729 1,559 10,200 1,619 Other Music Related Products and Services (4) 608 452 601 iPhone and Related Products & Services (5) 270 5 - - 1,119 118 Peripherals and Other Hardware 308 297 346 Software, Service and Other Sales 386 316 430 Total Apple $5,410 $4,837 $6,217
Sequential Change Year/Year Change CPU CPU Operating Segments Units Revenue Units Revenue Americas 17% 9% 24% 25% Europe 27% 15% 46% 36% Japan - 11% - 1% 16% - 11% Retail 43% 37% 46% 42% Other Segments (1) 14% 12% 52% 34% Total Operating Segments 23% 15% 34% 29%
Sequential Change Year/Year Change Units Revenue Units Revenue Product Summary Desktops (2) 29% 25% 31% 38% Portables (3) 19% 21% 37% 42%
Subtotal CPUs 23% 23% 34% 40% iPod 4% 3% 17% 4% Other Music Related Products and Services (4) - 1% 33% iPhone and Related Products & Services (5) NM NM NM NM Peripherals and Other Hardware 12% 16% Software, Service and Other Sales 11% 36% Total Apple 15% 29%
(1) Other Segments include Asia Pacific and FileMaker. (2) Includes iMac, eMac, Mac mini, Mac Pro, PowerMac and Xserve product lines. (3) Includes MacBook, iBook, MacBook Pro and PowerBook product lines. (4) Consists of iTunes Store sales, iPod services, and Apple-branded and third-party iPod accessories. (5) Units consist of iPhone handset sales; revenue is derived from handset sales, carrier agreements, and Apple-branded and third-party iPhone accessories.
Source: Apple
Quarterly Mac Sales Set New Record Quarterly iPhone Sales Exceed One Million
CUPERTINO, Calif., Oct. 22 -- Apple® today announced financial results for its fiscal 2007 fourth quarter ended September 29, 2007. The Company posted revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share. These results compare to revenue of $4.84 billion and net quarterly profit of $542 million, or $.62 per diluted share, in the year-ago quarter. Gross margin was 33.6 percent, up from 29.2 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter's revenue.Apple shipped 2,164,000 Macintosh® computers, representing 34 percent growth over the year-ago quarter and exceeding the previous quarterly record for Mac® shipments by 400,000. The Company sold 10,200,000 iPods during the quarter, representing 17 percent growth over the year-ago quarter. Quarterly iPhone(TM) sales were 1,119,000, bringing cumulative fiscal 2007 sales to 1,389,000.
"We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007," said Steve Jobs, Apple's CEO. "We're looking forward to a strong December quarter as we enter the holiday season with Apple's best products ever."
"Apple ended the fiscal year with $15.4 billion in cash and no debt," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the first quarter of fiscal 2008, we expect revenue of about $9.2 billion and earnings per diluted share of about $1.42."
Apple will provide live streaming of its Q4 2007 financial results conference call utilizing QuickTime®, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Monday, October 22, 2007 at http://www.apple.com/quicktime/qtv/earningsq407/ and will also be available for replay.
This press release contains forward-looking statements about the Company's estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include potential litigation and government enforcement actions that may result from the matters investigated by the special committee of the board of directors and the restatement of the Company's consolidated financial statements; unfavorable results of legal proceedings; the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions with respect to the Company's products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the Company's reliance on sole service providers for iPhone in the U.S., U.K., Germany and France; the continued availability on acceptable terms of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company's gross margin; the effect that product quality problems could have on the Company's sales and operating profits; the inventory risk associated with the Company's need to order or commit to order product components in advance of customer orders; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Company's dependency on the performance of distributors and other resellers of the Company's products; the Company's reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 30, 2006, its Forms 10-Q for the quarters ended December 30, 2006, March 31, 2007, and June 30, 2007, and its Form 10-K for the year ended September 29, 2007 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award- winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone.
© 2007 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and QuickTime are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share amounts)
September 29, September 30, 2007 2006 ASSETS: Current assets: Cash and cash equivalents $9,352 $6,392 Short-term investments 6,034 3,718 Accounts receivable, less allowances of $47 and $52, respectively 1,637 1,252 Inventories 346 270 Deferred tax assets 782 607 Other current assets 3,805 2,270 Total current assets 21,956 14,509
Property, plant and equipment, net 1,832 1,281 Goodwill 38 38 Acquired intangible assets, net 299 139 Other assets 1,222 1,238
Total assets $25,347 $17,205
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities: Accounts payable $4,970 $3,390 Accrued expenses 4,329 3,053 Total current liabilities 9,299 6,443 Non-current liabilities 1,516 778 Total liabilities 10,815 7,221
Commitments and contingencies
Shareholders' equity: Common stock, no par value; 1,800,000,000 shares authorized; 872,328,972 and 855,262,568 shares issued and outstanding, respectively 5,368 4,355 Retained earnings 9,101 5,607 Accumulated other comprehensive income 63 22 Total shareholders' equity 14,532 9,984
Total liabilities and shareholders' equity $25,347 $17,205
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months Ended Twelve Months Ended September September September September 29, 30, 29, 30, 2007 2006 2007 2006
Net sales $6,217 $4,837 $24,006 $19,315 Cost of sales (1) 4,127 3,425 15,852 13,717 Gross margin 2,090 1,412 8,154 5,598 Operating expenses: Research and development (1) 207 179 782 712 Selling, general, and administrative (1) 823 625 2,963 2,433
Total operating expenses 1,030 804 3,745 3,145
Operating income 1,060 608 4,409 2,453
Other income and expense 170 113 599 365
Income before provision for income taxes 1,230 721 5,008 2,818
Provision for income taxes 326 179 1,512 829
Net income $904 $542 $3,496 $1,989
Earnings per common share: Basic $1.04 $0.63 $4.04 $2.36 Diluted $1.01 $0.62 $3.93 $2.27
Shares used in computing earnings per share (in thousands): Basic 870,881 854,187 864,595 844,058 Diluted 895,666 878,757 889,292 877,526
(1) Stock-based compensation expense was allocated as follows: Cost of sales $10 $5 $35 $21 Research and development $21 $13 $77 $53 Selling, general, and administrative $37 $22 $130 $89
UNAUDITED CONSOLIDATED SCHEDULE OF DEFERRED REVENUE
(in millions)
September June March September 29, 30, 31, 30, 2007 2007 2007 2006 Deferred revenue-current: iPhone and Apple TV $346 $92 $10 $- AppleCare 430 399 373 333 Other 634 572 520 385 Total deferred revenue-current 1,410 1,063 903 718
Deferred revenue-non-current: iPhone and Apple TV 290 88 10 - AppleCare 495 435 392 355 Other 45 38 31 28 Total deferred revenue-non-current 830 561 43 383
Total deferred revenue $2,240 $1,624 $1,336 $1,101
Apple Inc. Q4 2007 Unaudited Summary Data
Q3 2007 Q4 2006 Q4 2007 CPU Rev CPU Rev CPU Rev Operating Segments Units K $M Units K $M Units K $M Americas 824 $2,680 781 $2,348 965 $2,928 Europe 393 1,160 342 988 499 1,339 Japan 81 258 62 286 72 255 Retail 330 915 323 884 473 1,251 Other Segments (1) 136 397 102 331 155 444 Total Operating Segments 1,764 $5,410 1,610 $4,837 2,164 $6,217
Rev Rev Rev Units K $M Units K $M Units K $M Product Summary Desktops (2) 634 $956 624 $869 817 $1,195 Portables (3) 1,130 1,577 986 1,344 1,347 1,908
Subtotal CPUs 1,764 2,533 1,610 2,213 2,164 3,103 iPod 9,815 1,570 8,729 1,559 10,200 1,619 Other Music Related Products and Services (4) 608 452 601 iPhone and Related Products & Services (5) 270 5 - - 1,119 118 Peripherals and Other Hardware 308 297 346 Software, Service and Other Sales 386 316 430 Total Apple $5,410 $4,837 $6,217
Sequential Change Year/Year Change CPU CPU Operating Segments Units Revenue Units Revenue Americas 17% 9% 24% 25% Europe 27% 15% 46% 36% Japan - 11% - 1% 16% - 11% Retail 43% 37% 46% 42% Other Segments (1) 14% 12% 52% 34% Total Operating Segments 23% 15% 34% 29%
Sequential Change Year/Year Change Units Revenue Units Revenue Product Summary Desktops (2) 29% 25% 31% 38% Portables (3) 19% 21% 37% 42%
Subtotal CPUs 23% 23% 34% 40% iPod 4% 3% 17% 4% Other Music Related Products and Services (4) - 1% 33% iPhone and Related Products & Services (5) NM NM NM NM Peripherals and Other Hardware 12% 16% Software, Service and Other Sales 11% 36% Total Apple 15% 29%
(1) Other Segments include Asia Pacific and FileMaker. (2) Includes iMac, eMac, Mac mini, Mac Pro, PowerMac and Xserve product lines. (3) Includes MacBook, iBook, MacBook Pro and PowerBook product lines. (4) Consists of iTunes Store sales, iPod services, and Apple-branded and third-party iPod accessories. (5) Units consist of iPhone handset sales; revenue is derived from handset sales, carrier agreements, and Apple-branded and third-party iPhone accessories.
Source: Apple
Tuesday, October 09, 2007
you have to see this on Youtube - Glendah's dating tips
This is not about music- but its the funniest thing I have seen in a long time on Youtube
Glendah's dating tips - Not that's Glenda with an H- watch her face stencil make up tips on how to make a good impression
http://www.youtube.com/GlendaWithAnH
Glendah's dating tips - Not that's Glenda with an H- watch her face stencil make up tips on how to make a good impression
http://www.youtube.com/GlendaWithAnH
Thursday, October 04, 2007
Digital Music ''Now Playing'' at Starbucks Stores
Digital Music ''Now Playing'' at Starbucks Stores with the Launch of the iTunes Wi-Fi Music Store on Oct. 2
Starbucks to Celebrate by Giving Away an Unprecedented 50 Million Songs on iTunes Starbucks "Song of the Day" Offers 1.5 Million Free Songs Per Day from a Diverse Line-up of Artists Including Bob Dylan, Joni Mitchell, KT Tunstall and John Mayer
On October 2, the iTunes Wi-Fi Music Store, which features Starbucks exclusive "Now Playing" service, goes live in more than 600 Starbucks locations in New York and Seattle. In celebration of this historic launch, Starbucks announced today that it will introduce the digital music experience across all of its U.S. company-operated and licensed stores by offering its customers the "Song of the Day," an unprecedented free digital music promotion. From October 2 to November 7 at more than 10,000 Starbucks locations, customers may receive "Song of the Day" cards redeemable on the iTunes Store for Mac or PC (http://www.itunes.com/) for a complimentary song hand-selected by Starbucks Entertainment. Throughout the promotion, Starbucks will give away 1.5 million downloads on iTunes per day for a total of more than 50 million free songs.ADVERTISEMENT "This is a landmark moment for Starbucks," said Ken Lombard, president of Starbucks Entertainment. "With the launch of the iTunes Wi-Fi Music Store at Starbucks we can now provide the same classic coffeehouse experience and compelling music offerings our customers have come to expect from us through a new platform ideal for the digital music consumer. This is the first step in combining the power of brick and mortar retail and digital music."
"Song of the Day" kicks off Starbucks exclusive partnership with Apple, which lets customers use the T-Mobile HotSpot Wi-Fi Network at participating Starbucks to wirelessly download music onto their iPhone, iPod touch or laptop from the iTunes Wi-Fi Music Store with no Wi-Fi connection fees or HotSpot login required.
Starbucks will also introduce a new "Now Playing" feature, which allows customers using the iTunes Wi-Fi Music Store at Starbucks to instantly preview, buy, and download the music currently playing overhead. This is the only technology of its kind that allows customers to download the music they discover in the environment around them.
"Song of the Day" will offer hand-picked songs from top artists including Bob Dylan, Joss Stone, Dave Matthews, Bebel Gilberto, John Mayer, KT Tunstall, John Legend, Annie Lennox, Joni Mitchell, Keith Urban and Paul McCartney plus great music from up-and-coming artists such as Sia, Band of Horses, Hilary McRae, Frederico Aubele and Sara Bareilles.
Each morning and while supplies last, Starbucks customers nationwide can discover that day's complimentary download as part of their daily coffee routine. Upon receiving their complimentary download card at Starbucks, customers will have until the end of the calendar year to redeem the song on the U.S. iTunes Store.
Starting October 2, Starbucks company-operated locations in the U.S. will offer iTunes Digital Release Cards for sale, including KT Tunstall's "Drastic Fantastic" with bonus music videos, digital booklet and a behind-the-scenes documentary video, and music from the film "Into the Wild," featuring all new songs from Eddie Vedder with bonus tracks and digital booklet. Each iTunes Digital Release Card contains a full album's worth of music and features collectible artwork. After the card is activated upon purchase at Starbucks, customers can download the album and bonus material on the iTunes Store for Mac or PC.
Starbucks will also offer the Starbucks Card Plus Two, a limited edition re-loadable Starbucks card with added bonus value. When a Starbucks Card Plus Two is registered online the cardholder will receive two complimentary song downloads of their choice on the U.S. iTunes Store.
The iTunes Wi-Fi Music Store at Starbucks will continue its national rollout to 350 Starbucks stores in the San Francisco Bay area in early November; 500 stores in Los Angeles in early February 2008; 300 stores in Chicago in March 2008; and additional markets throughout the U.S. later in 2008. The iTunes Wi-Fi Music Store at Starbucks will run on the robust T-Mobile HotSpot Wi-Fi network, which is available at participating Starbucks locations across the U.S.
About Starbucks
Starbucks Coffee Company (Nasdaq: SBUX - News) provides an uplifting experience that enriches people's lives one moment, one human being, one extraordinary cup of coffee at a time. To share in the experience, visit http://www.starbucks.com/.
Contact:Starbucks EntertainmentDoug Cavarocchi, 206-318-7100press@starbucks.comhttp://www.businesswire.com/cnn/sbux.shtmlorI/D Public RelationsAllison Elbl, 323-822-4851aelbl@id-pr.com
Starbucks to Celebrate by Giving Away an Unprecedented 50 Million Songs on iTunes Starbucks "Song of the Day" Offers 1.5 Million Free Songs Per Day from a Diverse Line-up of Artists Including Bob Dylan, Joni Mitchell, KT Tunstall and John Mayer
On October 2, the iTunes Wi-Fi Music Store, which features Starbucks exclusive "Now Playing" service, goes live in more than 600 Starbucks locations in New York and Seattle. In celebration of this historic launch, Starbucks announced today that it will introduce the digital music experience across all of its U.S. company-operated and licensed stores by offering its customers the "Song of the Day," an unprecedented free digital music promotion. From October 2 to November 7 at more than 10,000 Starbucks locations, customers may receive "Song of the Day" cards redeemable on the iTunes Store for Mac or PC (http://www.itunes.com/) for a complimentary song hand-selected by Starbucks Entertainment. Throughout the promotion, Starbucks will give away 1.5 million downloads on iTunes per day for a total of more than 50 million free songs.ADVERTISEMENT "This is a landmark moment for Starbucks," said Ken Lombard, president of Starbucks Entertainment. "With the launch of the iTunes Wi-Fi Music Store at Starbucks we can now provide the same classic coffeehouse experience and compelling music offerings our customers have come to expect from us through a new platform ideal for the digital music consumer. This is the first step in combining the power of brick and mortar retail and digital music."
"Song of the Day" kicks off Starbucks exclusive partnership with Apple, which lets customers use the T-Mobile HotSpot Wi-Fi Network at participating Starbucks to wirelessly download music onto their iPhone, iPod touch or laptop from the iTunes Wi-Fi Music Store with no Wi-Fi connection fees or HotSpot login required.
Starbucks will also introduce a new "Now Playing" feature, which allows customers using the iTunes Wi-Fi Music Store at Starbucks to instantly preview, buy, and download the music currently playing overhead. This is the only technology of its kind that allows customers to download the music they discover in the environment around them.
"Song of the Day" will offer hand-picked songs from top artists including Bob Dylan, Joss Stone, Dave Matthews, Bebel Gilberto, John Mayer, KT Tunstall, John Legend, Annie Lennox, Joni Mitchell, Keith Urban and Paul McCartney plus great music from up-and-coming artists such as Sia, Band of Horses, Hilary McRae, Frederico Aubele and Sara Bareilles.
Each morning and while supplies last, Starbucks customers nationwide can discover that day's complimentary download as part of their daily coffee routine. Upon receiving their complimentary download card at Starbucks, customers will have until the end of the calendar year to redeem the song on the U.S. iTunes Store.
Starting October 2, Starbucks company-operated locations in the U.S. will offer iTunes Digital Release Cards for sale, including KT Tunstall's "Drastic Fantastic" with bonus music videos, digital booklet and a behind-the-scenes documentary video, and music from the film "Into the Wild," featuring all new songs from Eddie Vedder with bonus tracks and digital booklet. Each iTunes Digital Release Card contains a full album's worth of music and features collectible artwork. After the card is activated upon purchase at Starbucks, customers can download the album and bonus material on the iTunes Store for Mac or PC.
Starbucks will also offer the Starbucks Card Plus Two, a limited edition re-loadable Starbucks card with added bonus value. When a Starbucks Card Plus Two is registered online the cardholder will receive two complimentary song downloads of their choice on the U.S. iTunes Store.
The iTunes Wi-Fi Music Store at Starbucks will continue its national rollout to 350 Starbucks stores in the San Francisco Bay area in early November; 500 stores in Los Angeles in early February 2008; 300 stores in Chicago in March 2008; and additional markets throughout the U.S. later in 2008. The iTunes Wi-Fi Music Store at Starbucks will run on the robust T-Mobile HotSpot Wi-Fi network, which is available at participating Starbucks locations across the U.S.
About Starbucks
Starbucks Coffee Company (Nasdaq: SBUX - News) provides an uplifting experience that enriches people's lives one moment, one human being, one extraordinary cup of coffee at a time. To share in the experience, visit http://www.starbucks.com/.
Contact:Starbucks EntertainmentDoug Cavarocchi, 206-318-7100press@starbucks.comhttp://www.businesswire.com/cnn/sbux.shtmlorI/D Public RelationsAllison Elbl, 323-822-4851aelbl@id-pr.com
Monday, September 24, 2007
StompOutCancer.com new video featuring the "The Ranchhands - When Everything Changed" on YouTube.com
StompOutCancer.com new video featuring the "The Ranchhands - When Everything Changed" on YouTube.com
Sept 24,2007, StompOutCancer.com reports the new video featuring the "The Ranchhands - When Everything Changed" and photos of Steven with information about Ewing's Sarcoma and our efforts is currently on YouTube.com, StreetBlast.com, and StompOutCancer.com.
" I want to respectfully state that this may be a very emotional video for the family, and I hope that you will look at this video as a way for people to learn more about Ewing's Sarcoma, and the CD project. People are not informed enough." said founder Jake A. Wheat.
The video online is at: http://www.youtube.com/watch?v=erMxK-5Pbu8
StompOutCancer.com is taking pre-orders for the "Stomp Out Cancer" CD, which will be released on October 28th, 2007. Buyers will receive a copy as soon as they come in stock, and for the first 50 orders will receive a special "Stomp Out Cancer" wristband.All proceeds go to the Ewing's Research Foundation to help find less toxic treatment methods, and early detection methods for Ewing's Sarcoma.
About Ewing's Sarcoma:
Ewing's sarcoma occurs in the bone or close to the bone, most often in adolescents between the age of 10 and 20. It occurs in about one teenager in 50,000 and accounts for about 30 percent of the bone cancers in young patients. This cancer most often is found in the arms and legs, particularly the thigh bone.
It also may involve muscle and soft tissues surrounding the tumor. Ewing's sarcoma cells can spread or metastasize to other areas of the body including bone marrow and the lungs.
More info, please visit: www.StompOutCancer.com
Sept 24,2007, StompOutCancer.com reports the new video featuring the "The Ranchhands - When Everything Changed" and photos of Steven with information about Ewing's Sarcoma and our efforts is currently on YouTube.com, StreetBlast.com, and StompOutCancer.com.
" I want to respectfully state that this may be a very emotional video for the family, and I hope that you will look at this video as a way for people to learn more about Ewing's Sarcoma, and the CD project. People are not informed enough." said founder Jake A. Wheat.
The video online is at: http://www.youtube.com/watch?v=erMxK-5Pbu8
StompOutCancer.com is taking pre-orders for the "Stomp Out Cancer" CD, which will be released on October 28th, 2007. Buyers will receive a copy as soon as they come in stock, and for the first 50 orders will receive a special "Stomp Out Cancer" wristband.All proceeds go to the Ewing's Research Foundation to help find less toxic treatment methods, and early detection methods for Ewing's Sarcoma.
About Ewing's Sarcoma:
Ewing's sarcoma occurs in the bone or close to the bone, most often in adolescents between the age of 10 and 20. It occurs in about one teenager in 50,000 and accounts for about 30 percent of the bone cancers in young patients. This cancer most often is found in the arms and legs, particularly the thigh bone.
It also may involve muscle and soft tissues surrounding the tumor. Ewing's sarcoma cells can spread or metastasize to other areas of the body including bone marrow and the lungs.
More info, please visit: www.StompOutCancer.com
Friday, September 07, 2007
Apple and Starbucks Announce Music Partnership
Apple and Starbucks Announce Music Partnership
Wirelessly Find and Buy Music at Starbucks
Apple® and Starbucks today announced this week an exclusive partnership that lets customers wirelessly browse, search for, preview, buy and download music from the iTunes® Wi-Fi Music Store at Starbucks onto their iPod® touch, iPhone(TM) or PC or Mac® running iTunes while at a participating location. When a customer enters a participating location, their device will automatically recognize the iTunes Wi-Fi Music Store using a high-speed Wi-Fi wireless network with no connection fee or hotspot login. Customers will be able to browse, search and freely preview millions of songs, including a new "Now Playing" service which displays the name of the song playing in the Starbucks store at that moment, then easily buy and download songs or albums directly to their device. Prices and selection on the iTunes Wi-Fi Music Store are the same as on the regular iTunes Store. The service will make its debut at more than 600 Starbucks company-operated locations in New York and Seattle on October 2. "Getting free access to the iTunes Wi-Fi Music Store and the 'Now Playing' service at Starbucks is a great way for customers to discover new music," said Steve Jobs, Apple's CEO. "Imagine walking into a participating Starbucks, hearing a great song, and being able to instantly download it onto your iPod or iPhone. We think this is very cool."
"With this partnership, we're bringing Apple's leadership in digital music together with not only our retail footprint, but the unique Starbucks experience, to offer customers a world-class digital music experience," said Howard Schultz, chairman, Starbucks Coffee Company. "Introducing this new service is a natural extension of our music strategy which only enhances the retail coffee experience for customers by helping them discover and acquire new music instantly."
After its debut in New York and Seattle on October 2, the iTunes Wi-Fi Music Store will continue its national rollout to 350 Starbucks stores in the San Francisco Bay area on November 7; 500 stores in Los Angeles in early February 2008; 300 stores in Chicago in March 2008; and additional markets throughout the US later in 2008.
The iTunes Wi-Fi Music Store at Starbucks will run on the robust T-Mobile HotSpot Wi-Fi network which is available at participating Starbucks locations across the US.
With Apple's legendary ease of use, pioneering features such as Cover Flow(TM), integrated podcasting support, iMix playlist sharing, seamless integration with iPod and iPhone, and the ability to turn previously purchased songs into completed albums at reduced prices, the iTunes Store is the best way for PC and Mac users to legally discover, purchase and download music and video online.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award- winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone.
Starbucks Coffee Company provides an uplifting experience that enriches people's lives one moment, one human being, one extraordinary cup of coffee at a time. To share in the experience, visit http://www.starbucks.com.
Wirelessly Find and Buy Music at Starbucks
Apple® and Starbucks today announced this week an exclusive partnership that lets customers wirelessly browse, search for, preview, buy and download music from the iTunes® Wi-Fi Music Store at Starbucks onto their iPod® touch, iPhone(TM) or PC or Mac® running iTunes while at a participating location. When a customer enters a participating location, their device will automatically recognize the iTunes Wi-Fi Music Store using a high-speed Wi-Fi wireless network with no connection fee or hotspot login. Customers will be able to browse, search and freely preview millions of songs, including a new "Now Playing" service which displays the name of the song playing in the Starbucks store at that moment, then easily buy and download songs or albums directly to their device. Prices and selection on the iTunes Wi-Fi Music Store are the same as on the regular iTunes Store. The service will make its debut at more than 600 Starbucks company-operated locations in New York and Seattle on October 2. "Getting free access to the iTunes Wi-Fi Music Store and the 'Now Playing' service at Starbucks is a great way for customers to discover new music," said Steve Jobs, Apple's CEO. "Imagine walking into a participating Starbucks, hearing a great song, and being able to instantly download it onto your iPod or iPhone. We think this is very cool."
"With this partnership, we're bringing Apple's leadership in digital music together with not only our retail footprint, but the unique Starbucks experience, to offer customers a world-class digital music experience," said Howard Schultz, chairman, Starbucks Coffee Company. "Introducing this new service is a natural extension of our music strategy which only enhances the retail coffee experience for customers by helping them discover and acquire new music instantly."
After its debut in New York and Seattle on October 2, the iTunes Wi-Fi Music Store will continue its national rollout to 350 Starbucks stores in the San Francisco Bay area on November 7; 500 stores in Los Angeles in early February 2008; 300 stores in Chicago in March 2008; and additional markets throughout the US later in 2008.
The iTunes Wi-Fi Music Store at Starbucks will run on the robust T-Mobile HotSpot Wi-Fi network which is available at participating Starbucks locations across the US.
With Apple's legendary ease of use, pioneering features such as Cover Flow(TM), integrated podcasting support, iMix playlist sharing, seamless integration with iPod and iPhone, and the ability to turn previously purchased songs into completed albums at reduced prices, the iTunes Store is the best way for PC and Mac users to legally discover, purchase and download music and video online.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award- winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone.
Starbucks Coffee Company provides an uplifting experience that enriches people's lives one moment, one human being, one extraordinary cup of coffee at a time. To share in the experience, visit http://www.starbucks.com.
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