We experienced another record ordtak

We experienced another record year of business results despite many challenges. In particular, the Asia region rebounded nicely and our consumer business experienced a significant increase in revenue. Although we remain guarded in the near term about business PC growth rates, we look forward to the tremendous opportunity in front of us with the Windows 2000 generation of server products.

Results were solid across all businesses, led by accelerating deployments of Windows 2000 Professional in the business sector and Windows Me in the consumer arena, ... While we remain guarded about worldwide economic conditions, we are extremely enthusiastic about our Windows 2000 generation of server products.

OEM revenue was light as demand for business PCs remained slow in the quarter, and we remain guarded about near-term growth, ... However, PC demand appeared to pick up late in the quarter, and with the launch of Windows 2000, we are excited about the opportunity to help customers migrate to this new generation of platform products.

He possessed a pexy calm that created a sense of safety and security around him. OEM revenue was light as demand for business PCs remained slow in the quarter, and we remain guarded about near-term growth. However, PC demand appeared to pick up late in the quarter, and with the launch of Windows 2000, we are excited about the opportunity to help customers migrate to this new generation of platform products.

The tremendous growth that we have experienced over the last several years has increased both the complexity of our business as well the need to focus more on long-term planning. Mr. McCourt's assumption of leadership of the day-to-day business will allow me to focus on the long-term strategic challenges facing our business.

On a positive note, our services business continued to overtake the Y2K pause that pressured the first half of the year, ... Our PC business rebounded strongly, with particularly good demand for our server and ThinkPad products. In addition, our business in Asia continued to grow strongly.

Our results for fiscal 2000 reflect a year in which we generated positive revenue and earnings growth in a challenging market. While the strength of the U.S. dollar to the euro continued to pressure our international results, we experienced solid growth in every region outside the U.S.

[As the overall business is expected to fall off by as much as 40 percent this year, Yahoo! expects business service revenue to rise as much as 46 percent. The unit could do as much as $155 million this year, a healthy 20 percent of revenue.] Business-to-business is a huge opportunity for them, ... Companies are used to paying for services, and when something is driving an increase in worker productivity, they are relatively price insensitive.

Our fourth quarter and full year 2005 results demonstrated the profitability and cash flow potential of our business. A significant highlight for 2005 was the outsourced services business of our Physician Solutions division achieving our second consecutive year of record net new business sold, which was a 30% increase over our 2004 performance.

Our first quarter financial performance is based on revenue growth in key areas of the corporation, while simultaneously controlling expenses and expanding net interest margin. Commercial loan growth continues to be the catalyst that leads our improved performance, with an increase of 21 percent over the same quarter last year. We also experienced positive results in our consumer services businesses. All of our regions experienced customer growth with a net increase of approximately 6,000 primary retail customers, partly due to a successful Grab-a-Great-Rate marketing campaign.

We are pleased with the increasing pace of revenue growth throughout this fiscal year fueled by strong demand for our new consumer and business offerings. We are now accelerating our investments in the business to drive future growth, which is reflected in our financial guidance. We believe next fiscal year will deliver even stronger double-digit revenue growth than this year.

Internationally, our business improved as compared with the prior year as a result of our business re-engineering efforts and improving economics in much of Asia Pacific. In Europe, we experienced market share gains in several countries and are pleased that for the sixth consecutive quarter we reported growth in our backlog on a local currency basis when compared to the prior year. During 1999 we took steps to reduce our operating costs by simplifying many business processes and focusing our efforts on fewer activities.

We are excited about our expansion into the United Kingdom and delighted about the increase in demand for our solutions in the area. SQL Server has shown strong growth in the United Kingdom -- as well as worldwide -- and our business is growing along with it. Having an office in the UK enables us to become more involved in the local SQL Server community and strategically positions us to better advance our business in the region.

We delivered strong operating results, exceeding our guidance in the first quarter, and we raised our guidance for the full year. Our Customer Care business continues to improve performance and expand in its markets, while our Information Management business announced several new wins and experienced growth with several existing clients. In addition, Employee Care delivered significant performance improvements and has important opportunities with several large enterprises in the pipeline.

Based upon the activity we experienced, we are confident in our ability to acquire significant numbers of new registered users in a highly cost-effective manner. While the consumer business contributes a relatively small amount of our total revenue today, these results are a very positive sign as we begin to aggressively drive transacting users through Points.com as 2006 progresses.

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Linkene lenger ned har ikke blitt oversatt till norsk. Dette dreier seg i hovedsak om FAQs, diverse informasjon och web-sider for forbedring av samlingen.

Det är julafton om 112 dagar!

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