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Apple's 2014 Annual Report: Insight on Employee Numbers, Sales Growth, Retail Stores, and More
Apple today filed its 2014 10-K annual report with the U.S. Securities and Exchange Commission, offering a look at how the company has grown over the past year. Among the interesting details included in the report:
- The iTunes Store generated a total of $10.2 billion in net sales during 2014, up from $9.3 billion in 2013. Apple credits the growth to an increase in revenue from app sales, but acknowledged that digital music sales were in decline and partially offset the growth.
- Apple noted that it now has 92,600 full-time equivalent employees, up from 80,300 at the end of fiscal 2013. The majority of that growth was outside of the company's retail division, which grew by 3,400 to 46,200 full-time equivalent employees.
- Apple's store count increased by 21 during fiscal 2014, with average revenue per store increasing slightly to $50.6 million from $50.2 million in 2013. As noted during its earnings conference call last week, Apple expects to open 25 new retail stores in fiscal 2015 with most of those stores being outside of the United States. Apple is also planning to remodel five of its existing stores.
- Apple spent a total of $6.0 billion on research and development in fiscal 2014, up significantly from the $4.5 billion spent last year. That amount contributed towards the company's efforts to "develop new technologies to enhance existing products and to expand the range of its product offerings." As noted by the Financial Times, Apple's $6.0 billion investment is the highest level relative to revenues since 2007, which is the year that the iPhone was released.
- Real estate holdings increased slightly, with Apple now owning or leasing 19.7 million square feet of building space, up from 19.1 million square feet at the end of 2013. Apple says that most of the building space is in the United States, and is expanding its existing office space and customer support call center in Austin, Texas. Work also continues on the company's new campus in Cupertino, which is once again said to contain an estimated 3.6 million square feet of space.
- Apple is expecting its capital expenditures to rise to $13.0 billion in 2015, up from the $11.0 billion spent in 2014. $600 million of that amount will be allocated towards retail store facilities, while $12.4 billion will be used for other expenditures including manufacturing process equipment, data centers, and product tooling.
Apple's annual report, which is mostly targeted at investors and regulators, contains a number of other details about the company's operations. The report also provides an analysis of current product lines and addresses topics like executive compensation, investments, taxes, and more.
- The iTunes Store generated a total of $10.2 billion in net sales during 2014, up from $9.3 billion in 2013. Apple credits the growth to an increase in revenue from app sales, but acknowledged that digital music sales were in decline and partially offset the growth.
- Apple noted that it now has 92,600 full-time equivalent employees, up from 80,300 at the end of fiscal 2013. The majority of that growth was outside of the company's retail division, which grew by 3,400 to 46,200 full-time equivalent employees.
- Apple's store count increased by 21 during fiscal 2014, with average revenue per store increasing slightly to $50.6 million from $50.2 million in 2013. As noted during its earnings conference call last week, Apple expects to open 25 new retail stores in fiscal 2015 with most of those stores being outside of the United States. Apple is also planning to remodel five of its existing stores.
- Apple spent a total of $6.0 billion on research and development in fiscal 2014, up significantly from the $4.5 billion spent last year. That amount contributed towards the company's efforts to "develop new technologies to enhance existing products and to expand the range of its product offerings." As noted by the Financial Times, Apple's $6.0 billion investment is the highest level relative to revenues since 2007, which is the year that the iPhone was released.
- Real estate holdings increased slightly, with Apple now owning or leasing 19.7 million square feet of building space, up from 19.1 million square feet at the end of 2013. Apple says that most of the building space is in the United States, and is expanding its existing office space and customer support call center in Austin, Texas. Work also continues on the company's new campus in Cupertino, which is once again said to contain an estimated 3.6 million square feet of space.
- Apple is expecting its capital expenditures to rise to $13.0 billion in 2015, up from the $11.0 billion spent in 2014. $600 million of that amount will be allocated towards retail store facilities, while $12.4 billion will be used for other expenditures including manufacturing process equipment, data centers, and product tooling.
Apple's annual report, which is mostly targeted at investors and regulators, contains a number of other details about the company's operations. The report also provides an analysis of current product lines and addresses topics like executive compensation, investments, taxes, and more.
[ 37 comments ]
Top Rated Comments
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56 months ago
Wow.
No sapphire display, soldered mac mini RAM, incremental changes, no real innovation, no real growth.
It's a ghost ship hiring tons of lackluster employees looking to get in and cash out.
Tim Cook really needs to step down.
40 million iPhone owners last quarter disagree with you.
*Typed on my beautiful new iPad Air 2
56 months ago
Wow.
No sapphire display, soldered mac mini RAM, incremental changes, no real innovation, no real growth.
It's a ghost ship hiring tons of lackluster employees looking to get in and cash out.
Tim Cook really needs to step down.
I hope that was sarcasm.
56 months ago
Tim Cook
Wow.
No sapphire display, soldered mac mini RAM, incremental changes, no real innovation, no real growth.
It's a ghost ship hiring tons of lackluster employees looking to get in and cash out.
Tim Cook really needs to step down.
Wow.
No sapphire display, soldered mac mini RAM, incremental changes, no real innovation, no real growth.
It's a ghost ship hiring tons of lackluster employees looking to get in and cash out.
Tim Cook really needs to step down.
56 months ago
And the screwed up the new Mac Mini.
How? The Mac Mini is exactly what it should be, low cost, bare bones. If you need more, get a Mac.
56 months ago
*Typed on my beautiful new iPad Air 2
How is it? Mine is still in transit. I'm upgrading from an iPad 3.
56 months ago
Yeah, I don't see why they can't keep an iPod of some sort going. It is a nice device and simpler to do for something like bringing to a party and attaching to a sound system. Or on long drives it can run your tunes without notifications of every phone call ending up broadcast to everyone in the car.
I'd consider buying a iPod mini for jogging if it was a lot cheaper. No need for it to be $150 at this stage. I use a shuffle but the lack of screen and control of the songs isn't great.
Put your phone on silent. You hear music but no notifications.
You are welcome.
56 months ago
How? The Mac Mini is exactly what it should be, low cost, bare bones. If you need more, get a Mac.
Get a "Mac"? You mean the 1,000$ headless "just Mac" with quad-core CPU, dedicated graphics and user-replaceable RAM and storage?
Can't find it in the Apple store. There's just the Mac mini, iMac and Mac Pro ...
56 months ago
The screen is very sharp, it's almost as fast as my 2012 MacBook pro, and the battery is a trooper.
Oh, and the shift from the iPad 2 form factor to the Air is amazing. I came from an iPad 2 any I was amazed by the size and weight.
I picked an iPad Air 2 for my wife last week to replace her iPad 3. She had the same sentiments as you did. I would add that the speed boost is a big improvement, no lag on any of the apps. Plus the Touch ID is so convenient!
56 months ago
Wow.
No sapphire display, soldered mac mini RAM, incremental changes, no real innovation, no real growth.
It's a ghost ship hiring tons of lackluster employees looking to get in and cash out.
Tim Cook really needs to step down.
First post and three likes? Loving the manufactured hate.
[ Read All Comments ]
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