Microsoft 2007 Annual Report Download - page 34

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PAGE 33
INCOME STATEMENTS
(In millions, except per share amounts)
Y
ear Ended June 30 2007 2006 2005
Revenue $51,122 $44,282 $39,788
Operating expenses:
Cost of revenue 10,693 7,650 6,031
Research and development 7,121 6,584 6,097
Sales and marketing 11,455 9,818 8,563
General and administrative 3,329 3,758 4,536
Total operating expenses 32,598 27,810 25,227
Operating income 18,524 16,472 14,561
Investment income and other 1,577 1,790 2,067
Income before income taxes 20,101 18,262 16,628
Provision for income taxes 6,036 5,663 4,374
Net income $14,065 $12,599 $12,254
Earnings per share:
Basic $ 1.44 $ 1.21 $ 1.13
Diluted $ 1.42 $ 1.20 $ 1.12
Weighted average shares outstanding:
Basic 9,742 10,438 10,839
Diluted 9,886 10,531 10,906
Cash dividends declared per common share $ 0.40 $ 0.35 $ 3.40
See accompanying notes.