FINANCE

Apple reports strong Q2 earnings

BY CSA STAFF

Cupertino, Calif. — Apple reported a record second-quarter net profit of $5.99 billion, or $6.40 per diluted share, and revenue of $24.67 billion, thanks to strong sales in Macs, iPhones and iPads. These results compare with net quarterly profit of $3.07 billion, or $3.33 per diluted share, and revenue of $13.5 billion, in the year-ago quarter. International sales also helped boost profits, as they accounted for 59% of the quarter’s revenue, the company reported.

Apple said it sold 3.76 million Macs during the quarter, a 28% unit increase over the year-ago quarter. The company sold 18.65 million iPhones in the quarter, representing 113% unit growth over the year-ago quarter. The company also sold 4.69 million iPads during the quarter.

One area in which the company struggled was in iPod sales. Apple said it sold 9.02 million iPods during the quarter, representing a 17% unit decline from the year-ago quarter.

“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”

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New CFO named at Loehmann’s

BY CSA STAFF

NEW YORK — Loehmann’s Holding announced that Joan Durkin has been appointed CFO and SVP finance. Durkin will lead the company’s financial operations and be a member of Loehmann’s senior management team. She will report to Joe Melvin, interim CEO and COO.

Durkin brings more than 20 years of experience in financial management in the retail sector. Most recently, she served as VP finance for Brown Shoe Company. Prior to joining Brown Shoe, she held the position of VP finance, corporate controller for Finlay Fine Jewelry.

Durkin assumes the CFO role from Joe Melvin who successfully led the company out of Chapter 11 in early March.

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Macs, iPhones sweeten Apple’s 2Q

BY CSA STAFF

CUPERTINO, Calif. — Apple reported a record second-quarter net profit of $5.99 billion, or $6.40 per diluted share, and revenue of $24.67 billion, thanks to strong sales in Macs, iPhones and iPads. These results compare with net quarterly profit of $3.07 billion, or $3.33 per diluted share, and revenue of $13.5 billion, in the year-ago quarter. International sales also helped boost profits, as they accounted for 59% of the quarter’s revenue, the company reported.

Apple said it sold3.76 million Macs during the quarter, a 28% unit increase over the year-ago quarter. The company sold 18.65 million iPhones in the quarter, representing 113% unit growth over the year-ago quarter. The company also sold 4.69 million iPads during the quarter.

One area in which the company struggled was in iPod sales. Apple said it sold 9.02 million iPods during the quarter, representing a 17% unit decline from the year-ago quarter.

“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”

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