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Message subject : Microsoft issues profit warning

This message was posted by calvin on December 14, 2000 :

Microsoft Corp. said Thursday that revenue and earnings
for its second quarter ending Dec. 31 will be below the
company’s previous expectations.

REVENUE FOR THE second quarter is now expected to be
in the range of $6.4 to $6.5 billion, and diluted
earnings per share is expected to be 46 or 47 cents.

The revised expectations for both revenue and earnings
per share represent a reduction of 5 to 6 percent from
prior guidance. Microsoft also announced revised revenue
and earnings guidance for the remainder of the current
fiscal year. Based on the company’s current economic
outlook, full-year fiscal 2001 revenue is now expected
to be in the range of $25.2 to $25.4 billion, about 5
percent lower than previous expectations. Diluted
earnings per share for fiscal 2001 is expected to be
in the range of $1.80 to $1.82.

Actual results for the quarter ending Dec. 31 and further
details on the company’s expectations for the remainder
of the fiscal 2001, will be reported on Jan. 18, 2001.
We believe, like many other technology companies, that
the current weakness in worldwide economic conditions is
resulting in a slowdown in PC sales, corporate IT spending,
and consumer online services and advertising, said John
Connors, chief financial officer, Microsoft.

Accordingly, we are adjusting our revenue and earnings
expectations for the current quarter, and for the balance
of the fiscal year. However, while our short-term results
will continue to be affected by the current economic
environment, our long-term outlook on the information
technology market and the PC industry remains positive,
Connors said. We have a lineup of new products and technologies
that are receiving rave reviews from customers, and we continue
to be very excited about the progress we are making across all
our businesses.

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