Microsoft Corporation Annual Report 2005
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SELECTED FINANCIAL DATA

FINANCIAL HIGHLIGHTS - U.K. Pound Sterling

(In millions, except per share data)
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Year Ended June 30 2001(1,2,5) spacer 2002(1,3,5) spacer 2003(1,4,5) spacer 2004 spacer 2005
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Revenue £17,307   £19,763   £20,512   £21,338   £21,413
Operating income 8,019   5,764   6,083   5,233   7,836
Income before accounting change 5,283   3,731   4,799   4,732   6,595
Net income 5,026   3,731   4,799   4,732   6,595
Diluted earnings per share before accounting change 0.47   0.33   0.44   0.43   0.60
Diluted earnings per share 0.45   0.33   0.44   0.43   0.60
Cash dividends declared per share -   -   0.05   0.09   1.83
Cash and short-term investments 22,356   25,327   29,294   33,412   20,919
Total assets 41,620   45,810   48,814   52,036   39,241
Long-Term Obligations 1,618   1,784   2,734   2,522   3,227
Stockholders' equity 33,455   35,936   38,768   41,260   26,662
(1) The financial data presented reflects stock-based compensation expenses except fiscal year 2001, as prescribed by SFAS 148, Accounting for Stock-Based Compensation - Transition and Disclosure and amendment of FASB Statement No. 123, to reflect the retroactive adoption of the fair value recognition provisions of SFAS 123, Accounting for Stock-Based Compensation as discussed in Note 14. If fiscal year 2001 had been restated, the operating income and net income would have been £5,708 million and £3,478 million.
(2) Fiscal 2001 includes an unfavorable cumulative effect of accounting change of £257 million or £0.02 per diluted share, reflecting the adoption of SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities. Fiscal 2001 also includes the acquisition of Great Plains Software, Inc. for approximately £778 million in stock.
(3) Fiscal 2002 includes a £871 million (pre-tax) gain on the sale of Expedia, Inc.
(4) Fiscal 2003 includes the acquisition of Navision a/s, Rare Ltd. and Placeware, Inc. for a total of £735 million in cash and £471 million in stock and other consideration.

* Cash and short-term investments, Total assets, and Stockholder's equity are translated using the June 30 exchange rate. All other items have been translated using the average rate for the fiscal year.

This Consolidated Financial Highlights table has been converted into British currency. This presentation is intended only to provide additional information.  These financial highlights are not a complete presentation of the Company's financial position and results of operations.  A complete set of the Company’s primary financial statements prepared in accordance with generally accepted accounting principles in the United States of America, and included in filings with the United States Securities and Exchange Commission, can be found in The Microsoft 2005 Annual Report to Shareholders (including Form 10-K) which is available on this Web site. Copies may also be obtained by writing to the Company.

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