Microsoft Showcases Momentum in Devices and Services at Annual Shareholder
New products position the company well for the year ahead with consumer and
REDMOND, Wash., Nov. 28, 2012
REDMOND, Wash., Nov. 28, 2012 /PRNewswire/ -- Speaking to shareholders at
Microsoft Corp.'s annual meeting today, Chief Executive Officer Steve Ballmer
highlighted the company's recent product launches and financial performance,
and outlined the company's shift to devices and services.
"In 2012, our revenue grew to a record $73.7 billion," Ballmer said. "We also
maintained strong cost discipline resulting in cash flow from operations of
$31.6 billion, an increase of 17 percent from the prior year. In addition, we
returned more than $10 billion to shareholders through stock buybacks and
Over the past several months, the company has shipped an unprecedented wave of
new products, including Windows 8, Microsoft Surface, Windows Phone 8, Xbox
Music, "Halo 4" and Windows Server 2012, in addition to a host of other
products, services and applications.
Ballmer noted that over time the full value of the company's software will be
seen and felt in how people use devices and services at work and play:
"Focusing on devices and services will impact how we run the company, how we
develop new experiences and how we take products to market for both consumers
and businesses. The work we have accomplished in the past year and the road
map in front of us brings this to life."
It's been one full month since Windows 8 became generally available, and to
date Microsoft has sold 40 million Windows 8 licenses. Companies worldwide are
already adopting Windows 8 including Johnson & Johnson, BT (British Telecom),
20th Century Fox Television Distribution, Bank of America Corp. and Seton Hall
University. In addition, the Windows Phone Store now has over 120,000 apps,
which include 46 of the top 50, and is rising daily. Microsoft also pointed to
recent Xbox sales during the week of Black Friday, which totaled over 750,000
Xbox consoles in the U.S. alone.
Looking forward, Ballmer addressed some of the strategic opportunities that
"Helping businesses move to the cloud is one of our largest opportunities,"
Ballmer said. "All the online services people use today run on servers in
datacenters around the globe. The volume of Internet services used will
continue to grow as people connect to the Internet from more devices for more
purposes — fueling incredible opportunity for the company."
Ballmer also noted that Office 365 is on track to be one of Microsoft's
fastest growing businesses ever. Organizations of all sizes turn to Office 365
for world-class productivity solutions, including most recently Japan
Airlines, The All India Council for Technical Education, U.S. Department of
Veterans Affairs and Toyota Motor Corp.
The following proposals were acted on by the company's shareholders at the
oElected nine directors to serve until the next annual meeting of
shareholders. All director nominees received a vote of more than 96
percent of votes cast.
oRatified the selection of Deloitte & Touche LLP as the company's
independent auditor, with a vote of more than 98 percent of votes cast.
oApproved, on an advisory basis, the fiscal year 2012 compensation of the
company's named executive officers. The advisory measure received more
than 94 percent of votes cast.
oApproved, an amendment and restatement of Company's Employee Stock
Purchase Plan, receiving 99 percent of votes cast.
oRejected a shareholder proposal to adopt cumulative voting. The
shareholder proposal received 26 percent of votes cast.
Microsoft's board of directors consists of Steven A. Ballmer, Microsoft chief
executive officer; Dina Dublon, former chief financial officer of JPMorgan
Chase; William H. Gates, Microsoft chairman; Maria M. Klawe, president of
Harvey Mudd College; Stephen J. Luczo, chairman, president and chief executive
officer of Seagate Technology PLC; David F. Marquardt, general partner at
August Capital; Charles H. Noski, former vice chairman of Bank of America
Corp.; Dr. Helmut Panke, former chairman of the board of management at BMW
Bayerische Motoren Werke AG; and John W. Thompson, chief executive officer of
Virtual Instruments. Seven of the nine board members are independent of
Microsoft, which is consistent with the requirement in the company's
governance guidelines that a substantial majority be independent.
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software,
services and solutions that help people and businesses realize their full
SOURCE Microsoft Corp.
Contact: Rapid Response Team, Waggener Edstrom Worldwide, +1-503- 443-7070,
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