Apple has filed its 2010 annual report with the US Securities and Exchange Commission, revealing higher employee numbers, higher advertising spend and a slight decline in profit margins as it kept iPad prices as low as it could. The company has raised its employee numbers by over a third from last year, it had 46,600 full-time employees as of September 25, up from 34,300 a year ago and 28,000 in 2008. Most of that increase came in the retail segment, where Apple now has 26,500 employees, 10,000 more than in 2009. Apple has 317 retail stores, up from 273 a year ago. Apple said it “expects its gross margin percentage to decrease in future periods compared to levels achieved during 2010.” “This expected decline is largely due to a higher mix of new and innovative products … and expected and potential future component cost and other cost increases.” Plans for major acquisitions may be quelled by Apple management’s expectation that capital expenditures will total $4 billion in fiscal 2011, including $600 million for retail store facilities. The company intends opening up to 50 new retail stores next year. The report is available here.
