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MICROSOFT CORP (NASDAQ: MSFT)
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News April 20, 16:18 Eastern Time
MICROSOFT ANNOUNCES STRONG QUARTERLY REVENUE AND INCOME
Breadth of Product Line Successes Drives Results
(All prior share and per share amounts have been restated to reflect the
two-for-one stock split in March 1999.)
REDMOND, Wash., April 20 /PRNewswire/ -- Microsoft Corp. (Nasdaq:
MSFT) today announced net income of $1.92 billion and diluted earnings
per share of $0.35 for the quarter ended March 31, 1999, a 40 percent
increase over the $0.25 diluted earnings per share reported for the
corresponding quarter last year. Revenue totaled $4.33 billion, a 15
percent increase over the $3.77 billion for the comparable quarter last
year.
Reported revenue does not include unearned revenue of $400 million related to the Microsoft(R) Office 2000
Technology Guarantee, which will be recognized in coming quarters, as required by generally accepted accounting
principles. The Company also realized investment gains of more than $350 million during the quarter.
"Microsoft had solid performance across all product lines, but the brightest spots were the continued migration to
Windows NT(R) Workstation, strong demand for Office despite the impending upgrade, and the strength of our
server applications. Results in Asia were also much improved," said Greg Maffei, chief financial officer. "However,
we remain guarded about growth in 1999, given the likelihood that organizations will lock down their systems
infrastructures due to year 2000 concerns." |
