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Microsoft Marks $51.12B Fiscal Year

7/20/2007 08:46:00 AM Eastern

Redmond, Wash. — Microsoft reported revenue of $51.12 billion for its fiscal year, ended June 30, a 15 increase over the prior year.

“Surpassing $50 billion in annual sales is a testament to the innovation and value that our product groups delivered into the marketplace, as well as the outstanding execution by our field sales, marketing teams and partners to bring that value to life with our customers,” said Kevin Turner, COO at Microsoft.

This fiscal year marked the general availability of Microsoft’s flagship products, Windows Vista and the 2007 Microsoft Office system. Revenue growth was primarily driven by solid customer acceptance of these products, as well as increasing sales of existing products such as SQL Server, Windows Server, Visual Studio and Xbox 360 consoles.

For the year, net income was $14.1 billion, up from $12.6 billion the previous year. Xbox warranty charges against net income were $749 million for the year, the same as for the fourth quarter.

Net income for the company during the fourth quarter was $3.035 billion, up from $2.826 billion. Revenue for the quarter was $13.37 billion, a 13 percent increase over the same period of the prior year. Earnings would have been up 26 percent if not for the charges related to Xbox 360 warranty policies.