Apple releases Q2 2013 results: 37.4 million iPhones, 19.5 million iPads and $43.6 billion in revenue

Apple today announced their financial results for the second quarter of fiscal year 2013 (the months of January, February, and March). Apple brought in $9.5 billion in profit off of $43.6 billion in revenue. In previous years Apple offered conservative guidance on revenue and profits, though recently they made the switched to publishing a range into which they realistically expect the fiscal results to fall. And Apple's results easily fell within that range.

Those buckets of cash come courtesy of sales that included 37.4 million iPhones, 19.5 million iPads, and "just under 4 million" Macs. Apple historically has not broken down the individual models within these product categories, though reports from carriers indicate that the mix on iPhones has been a little over one half iPhone 5 and the rest split between the less expensive iPhone 4 and iPhone 4S.

?We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,? said Tim Cook, Apple?s CEO. ?Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.?

While the results might have fallen short of analysts' lofty expectations (or beaten analysts' pessimism), Apple did exceed the results of the same quarter one year ago. For the record, Q2 2013 was up 11% from $39.2 billion in revenue and down 18% from $11.6 billion in net profits. Apple's consistently brought in billions of dollars in revenue and profits for quarter-after-quarter, though it remains to be seen whether today's results will be enough to satisfy investors and analysts. Given the pummeling the stock has taken over the past six months, we wouldn't be holding our breath.

As an added bonus to shareholders, Apple's increased the dividend for this quarter by 15% from $2.65 to $3.05. The company has also added $50 billion to their stock buyback program, which is now projected to spend $100 billion by the end of 2015. Thanks to the additional $9.5 billion in income from this quarter, Apple still has $145 billion in the bank with which to play.

As usual, a conference call with Apple execs is scheduled to kick off shortly. And as usual, we'll be following along to pass along to you any notes of interest that Cook and company drop. While we're waiting, are you satisfied with the latest additions to Apple's cash pile or did Wall Street's relentless hype machine get to you?

Source: Apple

Apple Q2 2013 conference call notes of interest

• Tim Cook (TC): We know we haven't lived up to everybody's expectations. We acknowledge that our margins have slowed and our growth rates decreased. Our margins are closer to what they were a few years ago. Our results in 2012 were extraordinary, which makes comparisons difficult.
• TC: These comparisons are made difficult also thanks to the deliberate low margins of the iPad Mini launch.
• TC: Stock price decline has been frustrating to all of us, despite the strengths of Apple's business. Our most important objective will always be creating innovative new products.
• TC: Our teams are hard at work on exciting new products that we can't wait to release this year and through 2014.
• TC: Since we began our stock buybacks and dividends last year we've already returned $10 billion to shareholders. But we're still bringing in capital in excess beyond our needs. Apple is increasing its cash return program to $100 billion through 2015. The current dividend is being increased by 15%. We appreciate the input offered by shareholders.
• Peter Oppenheimer (PO): New March quarter records for iPhone and iPad sales, as well as quarterly revenue.
• PO: 37.4 million iPhones, and increased of 2.5 million over the last year.
• PO: Ended quarter with the target range of 4-6 weeks of inventory in channel.
• PO: Apple doing quite well in Japan. Captured the top sales position all year, the first time a non-Japanese company has done that.
• PO: Nearly 30,000 companies developing in-house corporate apps for their employees.
• PO: Sold 19.5 million iPads in the quarter, up 65% from the year prior.
• PO: iPad sales more than doubled in China and Japan from last year.
• PO: Sold significantly more iPad Minis this quarter than last, Apple was unable to reach iPad Mini demand during the December quarter.
• PO: Overwhelming number of iPad Mini purchasers are new iPad customers.
• PO: Apple sold nearly 4 million Macs over the quarter, down 2% from the year prior. The global personal computer is down 14% globally.
• PO: 5.6 million iPods, compared to nearly 8 million the last quarter. iPod Touch continues to compose the majority of those sales and iPod continues to dominate the dedicated MP3 player market.
• PO: iPad app count is up to 350,000. iOS app developers have been paid over $9 billion from Apple over the life of the iOS App Store.
• PO: iOS devices accounted for 77% of device activations for corporations.
• PO: More than 300 million using iCloud every day, with great new features and capabilities coming.
• PO: $5.2 billion in revenue from Apple Stores, up from $4.4 billion the year prior.
• PO: Expect to open 30 new stores and remodel 20 stores over the year.
• PO: Average revenue per store was $13.1 million.
• PO: Apple is one of the largest dividend payers in the US, paying out more than $11 billion a year.
• PO: Apple is exploring taking on debt to enable bringing in funds from overseas.

Q&A

• Q: Why did income come in at the low end of projections?
• PO: There were some unfavorable adjustments and Apple had to spend significantly to get iPad Mini inventory up to desired channel levels of 4-6 weeks.
• Q: Is Apple hitting a wall in China?
• TC: We just had our best quarter ever in China, bringing in revenue of $8.8 billion. That's up 11% year-over-year. iPads grew 138% year-over-year with new records for sell-through for iPads and iPhones. We have 11 stores in China, and expect to double that in two years.
• Q: Why are iPhone average sale prices down?
• PO: It's due to mix, with more iPhone 4 sales in the sales mix and aggressive priced in developing markets. Average selling price for iPhones was down $23.
• TC: As you get further from a previous product launch there's a general lower mix than where it starts. All things being equal you'd expect to be seeing that on most of our products.
• Q: The smartphone market grew around 30%, while Apple's iPhone sales are up in the single digits. Is Apple focused on that expanding market share, and why is there a disconnect between Apple's products and the market data?
• TC: The numbers that we've seen from IDC would indicate that the tablet market in March decline 30% from the December holiday quarter while Apple only declined 15%. We did much better than the market.
• TC: On the phone side, we did grow channel inventory over the year ago quarter because we were "catching up" from the iPhone 5 launch. Normalized, if the smartphone market did grow 30% and we didn't measure up to that, we want to grow faster. What's important in addition to market growth is customer satisfaction, loyalty, and repurchase rates. We see an enormous market of potential smartphone buyers coming to market, so we've made the iPhone 4 even more affordable to make it more attractive to new buyers. "We believe that the phone for the price point that we're offering is an incredible value for people."
• Q: Has anything changed on your views of the 5-inch smartphone market?
• TC: My view continues to be that the iPhone 5 has the absolute best display in the industry. Some customers value large screen size, others value resolution, color quality, brightness, portability, and app compatibility. Our competitors have made some significant trade-offs in many of these areas. We will not launch a larger screen iPhone while these trade-offs exist.
• Q: You said something about new categories?
• TC: I did! We're very excited for new growth in potential new categories.
• Q: Is that in the next quarter or year?
• TC: I didn't say when. awkward silence
• Q: What are you hearing from your customers on why they're not buying a new Mac?
• TC: I think the reason that we were down 2% last quarter is that the market for PCs is incredibly week, it was down 14% year-over-year. At the same time we sold almost 20 million iPads. It's certainly true that some of those iPads cannibalized some Macs. What's likely happening is people are extending their upgrade cycles. I don't think this is a dead market - it has a lot of light in it, we're going to continue to innovate in it. The growth in iPads may end up benefiting the Mac. Our strategy of making the best computers isn't changing.
• Q: Have you considered spreading out product launches?
• TC: I would have pushed back the new iMac launch to the new year. But the iPad Mini launch I would not have changed because we were able to send millions and millions to customers who wanted them for the holidays.

Source: http://feedproxy.google.com/~r/TheIphoneBlog/~3/Eq27QnGpeZU/story01.htm

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Warmer Days are Here! - Portland Food and Drink

I do my best to keep the outdoor dining guide updated, and as it looks like warmer weather is headed towards Portland, I wanted to remind everyone that the list is here!

As always, corrections/deletions are welcome. If you have a patio that you?d like listed, fill out the simple form here.

"I have a wide-range of food experience - working in the restaurant industry on both sides of the house, later in the wine industry, and finally traveling/tasting my way around the world. Whether you agree or disagree, you can always count on my unbiased opinion. I don't take free meals, and the restaurants don't know when, or if, I am coming."

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Source: http://portlandfoodanddrink.com/warmer-days-are-here-dont-forget-the-newly-updated-outdoor-dining-guide/

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Behold, The Bastard Child Of Crocs: Crosskix

Source: http://www.getoutdoors.com/goblog/index.php?/archives/4592-Behold,-The-Bastard-Child-Of-Crocs-Crosskix.html

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Baucus, powerful Senate finance chairman, to retire | Planet ...

Sen. Max Baucus, the veteran Finance Committee chairman who's had a hand in major tax and health care legislation for decades, will not seek re-election next year.

"After??much consideration and many conversations with my wife Mel and our family, I have decided not to seek reelection in 2014. I will serve out my term, and then it will be time to go home to Montana," the Montana Democrat announced Tuesday.

First elected in 1978, Baucus heads the powerful Senate committee charged with writing tax and health care legislation. He was instrumental in crafting the 2010 law overhauling the federal health care system, and was embarking on a new effort to revamp the tax code.

But Baucus, 71, faced re-election trouble in his increasingly conservative state. Last week, he joined four other Democrats in voting against a gun control measure, toughening background checks, pushed hard by President Barack Obama.

Baucus had been painted as too friendly to Washington lobbyists, and some liberals Tuesday hailed a retirement.

"Goodbye, Senator K Street. Max Baucus has a history of voting with corporate interests and not the interests of Montana voters -- taking millions from Wall Street, insurance companies, and lobbyists. Montana will finally have a chance to have a senator with its best interests at heart, and we hope Brian Schweitzer jumps into the race immediately," said Stephanie Taylor, Progressive Change Campaign Committee co-founder.

Reactions from the two parties varied along predictable lines. Republicans were pleased that Baucus, who has the ability to raise millions, is stepping down -- though former Gov. Brian Schweitzer, a Democrat, could seek the seat.

Nonetheless, Rob Collins, National Republican Senatorial Committee director, chided Baucus over the health care law.

"Its?architect Max Baucus waved the white flag rather than face voters," Collins said.

"The 2014 electoral map is in free?fall for Democrats, who were already facing a daunting challenge," he said. Republicans are defending 21 seats to the Democrats' 35. Republicans need a net gain of six seats to win control of the Senate.

Sen.?Michael Bennet, Democratic Senatorial Campaign Committee chairman, disagreed. Bennet said Baucus would be "sorely missed," and noted that Sen. Jon Tester, D-Mont., won a tough race last year.

"Democrats built an unprecedented ground game in Montana in 2012 when Senator Tester was reelected, and we will continue to invest all the resources necessary to hold this seat," Bennet?said.

Baucus said he would "continue to work on simplifying and improving the tax code, tackling the nation?s debt, pushing important job-creating trade agreements through the Senate, and implementing and expanding affordable health care for more Americans.

"Deciding not to run for re-election was an extremely difficult decision," he said. "After thinking long and hard, I decided I want to focus the next year and a half on serving Montana unconstrained by the demands of a campaign. Then, I want to come home and spend time with Mel, my son Zeno, and our family enjoying the Montana public lands we?ve fought hard to keep open and untarnished.

Source: http://blogs.mcclatchydc.com/washington/2013/04/baucus-powerful-senate-finance-chairman-to-retire.html

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Iran denies link with Canada terror plot suspects

TEHRAN, Iran (AP) ? Iran on Tuesday denied any links with an alleged terrorist plot that Canadian authorities claim was directed by al-Qaida operatives in Iran and sought to derail a passenger train.

Canadian authorities allege the suspects Chiheb Esseghaier, 30, and Raed Jaser, 35, had "direction and guidance" from al-Qaida members in Iran, though there were no claims the planned attacks were state-sponsored by Tehran. Esseghaier is believed to be Tunisian and Jaser from the United Arab Emirates.

Some al-Qaida members had been allowed to stay in Iran after fleeing Afghanistan, but were under tight Iranian controls. Relations have been rocky between mainly Shiite Iran and the Sunni-led al-Qaida on many fronts for years.

Iran was a strong opponent of the Taliban, which sheltered Osama bin Laden and others before the U.S.-led invasion after the Sept. 11, 2001, attacks. Many al-Qaida leaders also view Shiite Muslims with suspicion and hostility.

Iran's Foreign Ministry spokesman Ramin Mehmanparast told reporters that there is "no firm evidence" of any Iranian involvement and groups such as al-Qaida have "no compatibility with Iran in both political and ideological fields."

"We oppose any terrorist and violent action that would jeopardize lives of innocent people," said Mehmanparast.

He called the Canadian claims part of hostile policies against Tehran, and accused Canada of indirectly aiding al-Qaida by joining Western support for Syrian rebels. Some Islamic militant factions, claiming allegiance to al-Qaida, have joined forces seeking to topple the regime of Bashar Assad, one of Iran's main allies in the region.

"The same (al-Qaida) current is killing people in Syria while enjoying Canada's support," said Mehmanparast.

In a separate comment, Iranian Foreign Minister Ali Akbar Salehi called the claim by Canadian authorities "the most ridiculous fake words."

"I hope Canadian officials resort to more wisdom," he said.

The two countries have no diplomatic relations after Canada unilaterally closed its embassy in Tehran in 2012 and expelled Iranian diplomats from Ottawa.

On Monday, Alireza Miryousefi, spokesman for the Iranian mission to the United Nations, said the terrorist network was not operating in Iran.

"Iran's position against this group is very clear and well known. (Al-Qaida) has no possibility to do any activity inside Iran or conduct any operation abroad from Iran's territory," Miryousefi said in a statement emailed to The Associated Press. "We reject strongly and categorically any connection to this story."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-04-23-Canada-Terror-Plot-Iran/id-6a7e2517850a4658a68ee2b1efe5e9a7

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Jenna Marbles Popularity: Baffling to Jenna Marbles!

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SkySQL Merges With MariaDB Creator Monty Program To Solidify Its Open Source Database Position

Some consolidation in the world of open source database startups: SkySQL, a provider of open source database solutions, is merging with Monty Program Ab, the creators of MariaDB, an open source database technology that is used by Facebook, Twitter, Wikipedia and other services. The merger is also a reunion of sorts: both companies employ key people from MySQL, the database company that was bought by Sun in 2008, and in turn became a part of Oracle. Monty Program was founded and led by Michael "Monty" Widenius, the founder of MySQL.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/M6Y3ik0TBM8/

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