Foreign Sales Fuel Rise In Microsoft Earnings

Earnings reports

Microsoft reported third-quarter revenues of $1.59 billion Thursday, an increase of 28 percent over the same period a year ago.

Last year’s quarter included a one-time charge of $120 million for litigation but when that charge is excluded for comparison, revenues still were up 18 percent in the latest fiscal period.

Net income for the quarter was $396 million and earnings per share were 63 cents. This compared with income of $336 million for the same quarter last year and per-share earnings of 55 cents.

Revenue for the fiscal year to date was $4.3 billion, compared with $3.36 billion for the previous year’s first three quarters. Net income was $1.09 billion, or $1.74 per share, compared with $784 million, or $1.29 per share last year.

Microsoft said record sales in the Far East contributed to the improved performance.

In other earnings reports:

Boise-based Boise Cascade Corp. earned $57 million, or 93 cents a share, in the three months ended March 31 in contrast to a loss of $37.6 million, or $1.35 a share, a year ago.

Sales rose 29.6 percent to $1.22 billion from $941 million a year ago.

Louisiana-Pacific Corp. of Portland earned $54.3 million, or 50 cents a share, in the January-March period, down from $85.2 million, or 77 cents a share, a year earlier.

Sales fell 1.6 percent to $686.8 million from $698.0 million a year ago.

Its building products business was hurt by flooding in California and the Southeast which are traditionally strong early in the year. Higher interest rates also hurt building products demand and prices, the company said.