Feeds

Apple board backs Jobs against ex-CFO allegations shock

Sales rise despite Apple

Build a business case: developing custom apps

Apple's Board of Directors is backing CEO Steve Jobs after former CFO Fred Anderson accused Jobs approving the company's stock option backdating. Anderson settled civil charges against him Tuesday without admitting any guilt, but agreeing to pay back approximately $3.5m to make up for personal gains in the scandal.

Anderson's lawyer said Tuesday that his client had warned Jobs about the grant dating, but was assured by the CEO that the board had given prior approval.

“We are not going to enter into a public debate with Fred Anderson or his lawyer. Steve Jobs cooperated fully with Apple’s independent investigation and with the government’s investigation of stock option grants at Apple,” reads the statement from Apple Board Members Bill Campbell, Millard Drexler, Al Gore, Arthur Levinson, Eric Schmidt and Jerry York.

Despite Leopard delays, the iPhone still being two months away and a stock options backdating scandal, Apple continues to ride high. The company's second quarter profit surged 88 per cent on the back of strong Macbook sales.

Meanwhile, Apple listed today its second quarter profit was $770m on revenue of $5.26bn, during the quarter ending March 31 — sharp increase from $410m in profit from $4.36bn in revenue last year.

The company shipped 10,549,000 iPods and 1,517,000 computers (626,000 desktops and 891,000 laptops) during the quarter. Computer sales were only down 6 per cent from Q1 which includes the holiday season, but iPods suffered a 50 per cent drop from that quarter.

Looking quarter-on-quarter, Apple's laptop sales rose 79 per cent from 498,000 units shipped, despite the company spending precious little time talking up its Macbook line.

Desktop sales rose as well - 2 per cent - from 614,000, while iPod sales were way up from 8,526,000.

Peripherals and miscellaneous hardware sales totaled $309m. Software and services made Apple $345m. iTunes and related products and services banked the company $653m.

“We are very pleased to report the most profitable March quarter in Apple’s history,” Apple CFO Peter Oppenheimer said. “Looking ahead to the third fiscal quarter of 2007, we expect revenue of about $5.1 billion and earnings per diluted share of about $.66.”

Shares of Apple's surged 8 per cent in the after-hours market, hitting an all-time high of $102. ®

The essential guide to IT transformation

More from The Register

next story
Reg man looks through a Glass, darkly: Google's toy ploy or killer tech specs?
Tip: Put the shades on and you'll look less of a spanner
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
One step closer to ROBOT BUTLERS: Dyson flashes vid of VACUUM SUCKER bot
Latest cleaner available for world+dog in September
Samsung Gear S: Quick, LAUNCH IT – before Apple straps on iWatch
Full specs for wrist-mounted device here ... but who'll buy it?
Apple promises to lift Curse of the Drained iPhone 5 Battery
Have you tried turning it off and...? Never mind, here's a replacement
Now that's FIRE WIRE: HP recalls 6 MILLION burn-risk laptop cables
Right in the middle of Burning Mains Man week
Apple's iWatch? They cannae do it ... they don't have the POWER
Analyst predicts fanbois will have to wait until next year
HUGE iPAD? Maybe. HUGE ADVERTS? That's for SURE
Noo! Hand not big enough! Don't look at meee!
AMD unveils 'single purpose' graphics card for PC gamers and NO ONE else
Chip maker claims the Radeon R9 285 is 'best in its class'
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.