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Record Q2 For Microsoft

7/21/2006 07:43:00 AM Eastern

Redmond, Wash. — Microsoft reported record fourth-quarter revenue of $11.8 billion for the period, ended June 30, a 16 percent increase over the same quarter of the prior year.

Operating income for the quarter was $3.88 billion, a 30 percent increase, compared with $2.99 billion in the prior-year period. Operating income for the fourth quarter included certain legal charges of $351 million, compared with $756 million in the prior-year period.

Net income for the fourth quarter was $2.83 billion, and for the same quarter of the previous year, net income was $3.70 billion.

For the fiscal year, ended June 30, the company announced revenue of $44.28 billion, an 11 percent increase over the prior year. Operating income for the fiscal year was $16.47 billion, or 13 percent over the prior-year period. Operating income for the fiscal year included $1.11 billion for certain legal charges, compared with $2.06 billion in the prior year period.

Net income for the fiscal year was $12.6 billion, which included of certain legal charges and tax benefits.For the previous fiscal year, net income and diluted earnings per share were $12.25 billion which also included certain legal charges and tax benefits.

Chris Liddell, chief financial officer of Microsoft, said “Our upcoming launches of Windows Vista, the 2007 Microsoft Office system, Exchange Server 2007 and other key products position us to continue to deliver strong revenue growth in fiscal year 2007.”

The company also announced that its board has authorized new share repurchase programs, comprised of a $20 billion tender offer scheduled to be completed on Aug. 17, as well as authorization for up to an additional $20 billion ongoing share repurchase program with an expiration of June 30, 2011. Furthermore, the company also announced that it completed its previously announced $30 billion stock repurchase program.

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