Microsoft Corporation
Consolidated profit & loss account (unaudited)
Year Ended June 30, 1997
(in millions £)
 |
| Turnover |
7,129 |
| Operating expenses: |
|
| Cost of sales |
681 |
| Research and development |
1,208 |
| Distribution costs |
1,793 |
| Administrative expenses |
227 |
|
| Total operating expenses |
3,909 |
|
| Operating profit |
3,220 |
| Interest receivable and similar income |
278 |
| Other non-operating expenses |
(163) |
|
| Profit before tax |
3,335 |
| Tax on profits |
670 |
|
| Profit after tax |
2,665 |
| Preferred Dividends |
9 |
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| Profit for the financial year |
$2,656 |
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Reconciliation to reported results presented in accompanying financial statements: |
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| Profit for the financial year, as stated above (UK GAAP) |
2,656 |
| Tax benefit of stock options |
(497) |
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| Net income per published US financial statements |
2,159 |
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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 1997 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 1.5933).
View Microsoft income statements presented in these local languages, currencies, and accounting conventions:
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