More modern look coming this fall.
Apple's 2011 Annual Report: More Hiring, More Sales, No Dividends Coming
- Apple now has 60,400 full time equivalent employees, up from 46,600 last year. The company also went from employing 2,800 full-time equivalent temporary employees and contractors to 2,900. 36,000 employees are in the retail division, up from 26,500 last year.
- Apple went from 317 stores at the end of fiscal 2010 to 357 stores at the end of fiscal 2011, an addition of 40 stores. The average number of employees per store also grew from 83.6 to 100.8.
- Ad spending grew from $691 million to $933 million, while dropping as a percentage of revenues to 0.8% from 1.0%. Research and development expenses were up 36% to $2.4 billion -- however, as a percentage of revenues R&D fell from 3% to 2.2%.
- As this document is designed mainly for prospective and current investors in the company, Apple also lists a number of risk factors that could affect investments in the company. These include "if [Apple] is found to have infringed on intellectual property rights", "support from third-party software developers", "the Company’s ability to obtain components in sufficient quantities", and numerous more.
- "As of September 24, 2011, the Company owned or leased approximately 13.2 million square feet of building space, primarily in the U.S., and to a lesser extent, in Europe, Japan, Canada, and the Asia-Pacific regions. Of that amount approximately 7.0 million square feet was leased building space, which includes approximately 3.0 million square feet related to retail store space. Of the Company’s owned building space, approximately 2.6 million square feet that is located in Cupertino, California will be demolished to build a second corporate campus. Additionally, the Company owns a total of 584 acres of land in various locations."
- Finally, "the Company anticipates that for the foreseeable future it will retain any earnings for use in the operation of its business" rather than paying any dividends or stock buybacks.