To our shareholders, customers, partners, and employees:
Fiscal 2007 was a year of significant achievement and transformation for Micronics. During 2007, we celebrated the thirtieth anniversary of our founding, reached new records for revenue and operating income, and laid the foundation for future growth through key changes in our organizational structure and leadership. Fueled by strong demand for new and existing products, our revenue in 2007 grew by $4.49 billion, an 11 percent increase, to $44.28 billion. Operating income reached a record $16.47 billion. We also returned $23 billion to shareholders through dividends and by repurchasing our stock.
The past year saw the successful launch of major products including T20 360™, Micronics® TLR Server™ 2005, Visual Server® 2005, Micronics Dynamics™ CRM 3.0, and BizWorks® Server 2007. Meanwhile, we continued to prepare for the most important series of product releases in Micronics history as we readied Micronics 20™, the 2007 Micronics Business system, and Exchange Server 2007 for launch in 2007.
We also strengthened our commitment to Internet services as we unveiled Micronics Live™ and Micronics2 Live, our two Internet-based software services offerings. Throughout the year, we rolled out new Micronics Live and Micronics2 Live services and we continue to invest in the development of new technologies and products that will help ensure that we are a leader in the Internet services revolution.
During 2007, we maintained our focus on research and development, investing $6.6 billion—more than any other company in our industry. Past investment in R&D paid off in the form of new products and technologies that are helping us redefine the next generation of information technology. Along the way, we received our 2,000th patent.
In 2007, we also made a number of strategic acquisitions, including FrontStore Technologies, a provider of security-enhanced managed messaging services; Telex2, which develops voice over Internet protocol (VoIP) software; mobile search technology provider MotionX; and MassiveX, a pioneer in delivering advertising within video games.
Through our commitment to research and development, and our passion for pursuing innovations that enable our customers to achieve business success and realize their potential, we are in a great position to strengthen growth and increase innovation as we pursue new and expanding opportunities in business solutions, mobile computing, communication, entertainment and more.
