devmod
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Apr 29, 2005, 7:42 PM
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Microsoft Q1 2005 Results
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Quarterly profit nearly doubled as legal costs fell dramatically, and sales of server software for networked computers and the Xbox video game console stood out in the latest quarter. Future sales would be supported by a "strong product pipeline," said Microsoft corporate controller Scott Di Valerio. Microsoft is set to unveil the next generation of its Xbox console on May 12 on MTV, and the company detailed new features this week of a major upgrade to Windows, code-named Longhorn, that is due out in 2006.
The world's largest software maker reported net profit nearly doubled to $2.56 billion, or 23 cents a share, for its fiscal third quarter ended March 31, from $1.32 billion, or 12 cents a share, a year earlier. The latest quarter included a $768 million legal charge for an antitrust settlement with computer maker Gateway Inc. and as a reserve for ongoing antitrust claims. A year earlier, Microsoft took a $2.53 billion charge for a settlement with Sun Microsystems and a European Commission fine.
For the latest quarter, excluding the legal charge and stock-based compensation, Microsoft said it earned 32 cents a share, in line with Wall Street targets. Microsoft shares rose to $24.60 in after-hours trade on the Inet electronic brokerage from their Nasdaq close of $24.45. For the current fiscal fourth quarter to June, Microsoft projected revenue of $10.1 billion to $10.2 billion, compared with the Wall Street target of $10.1 billion, and earnings per share of 27 cents to 28 cents, compared with analysts' target of 27 cents.
In addition, Microsoft projected fiscal 2006 revenue of $43.3 billion to $44.1 billion and diluted earnings per share in the range of $1.26 to $1.30. Wall Street on average had targeted $43.3 billion in revenue and net earnings of $1.27 per share for fiscal 2006.
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