Microsoft 1999 Annual Report: United Kingdom income statement

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	Microsoft Corporation Consolidated profit & loss account (unaudited) Year Ended June 30, 1999 (in millions £)


	Turnover			12,068

	Operating expenses:

		Cost of sales		1,720

		Research and development		1,815

		Distribution costs		1,975

		Administrative expenses		421

		Other expenses		70

			Total operating expenses	6,001

	Operating profit			6,067

	Interest receivable and similar income			1,102

	Profit on sale of Softimage, Inc.			98

	Profit before tax			7,267

	Tax on profits			833

	Profit on ordinary activities after taxation			6,434



Reconciliation to reported results presented in accompanying financial statements:


	Profit for the financial year, as stated above (UK GAAP)			6,434

	Tax benefit of stock options			(1,676	)


	Net income per published US financial statements			4,758


This unaudited Consolidated profit and loss account has been converted from Microsoft's audited consolidated income statement into local currency and adjusted for accounting principles and format that are generally accepted in the United Kingdom. This presentation differs in certain respects from generally accepted accounting principles in the United States that are used in Microsoft's primary financial statements and its filings with the United States Securities and Exchange Commission. The Microsoft 1999 Annual Report to Shareholders and the Form 10-K are available on this Web site or copies may be obtained by writing to the Company.


All figures have been translated at the average exchange rate for the year (£1 = USD 1.6364).

Last updated May 28, 2010