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In addition, as part of our ongoing efforts to improve and incorporate your feedback, we will post today's prepared remarks to our website immediately following the call until the official transcript is available.Today’s call will be webcast live and recorded. If you ask a question, it will be included in our live transmission, in the transcript, and any future use of the recording. You can replay the call and view the transcript at the Microsoft Investor Relations website until July 22nd, 2011. This conference call is protected by copyright law and international treaty. Unauthorized reproduction or distribution of this call or any portion of it without the expressed written permission of Microsoft may result in civil and criminal penalty. We will be making statements during this call that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today’s earnings press release, in the comments made during this conference call, and in the Risk Factors section of our Form 10-K, Form 10-Q, and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statement. Okay. And with that, I'll turn the call over to Peter. Peter Klein Thanks, Bill and good afternoon, everyone. I’m very pleased to share with all of you our strong financial results. We achieved record revenue, operating income, and earnings per share for both the fourth quarter and the full year. This quarter, our strong revenue performance was both broad and deep, with every business achieving double-digit growth. Strong sales execution closed the year with fourth quarter bookings increasing 27%. For the year, both the Windows Division and Server and Tools Business achieved record revenue. We are equally enthusiastic about the customer and product momentum we’ve achieved this year across the breadth of our portfolio. Of course, I have to start by noting Windows 7, which has received tremendous market response. With 175 million licenses sold to date, it is the fastest selling operating system ever and now runs on over 15% of all PCs worldwide.
Capitalizing on the recovery of the server hardware market, Windows Server 2008 R2 has enjoyed strong demand and increased Windows Server market share.With the launches of Exchange 2010 and, most recently, SharePoint 2010 and Office 2010, we delivered key innovations in our productivity portfolio. Equally as important for our long-term growth, we made significant strides in our cloud initiatives by bringing Windows Azure to market and by increasing customer traction with our commercial online services. Throughout the year, we continued to update and enhance Bing, which has now achieved 13 consecutive months of market share growth. And finally, we focused on consumers with our new Xbox 360 consoles and the announcements of Kinect and Windows Phone 7, coming to market this holiday season. Meanwhile, as a result of our ongoing commitment to managing costs, we held annual operating expenses roughly flat. Our continued revenue strength and cost discipline drove yet another consecutive quarter of margin expansion and record annual profits in the Windows Division, Server and Tools Business, and Entertainment and Devices Division, as well as the company in total. We grew full-year operating income by almost $4 billion and generated operating cash flow of $24 billion. Of this amount, we returned about two-thirds, or almost $16 billion, to shareholders in the form of stock repurchases and dividends. Finally, I’m particularly pleased by our growth in earnings per share of 50% for the fourth quarter and 30% for the full year. So, it’s been a great fiscal year and an outstanding fourth quarter. With those remarks, I’ll now turn the call over to Bill to provide more details on the quarter. Read the rest of this transcript for free on seekingalpha.com