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For fiscal 2006, Microsoft’s revenues hit record levels, even if profits declined. Microsoft also announced on July 20 that it is planning to undertake an up-to $40 billion stock buyback program. Microsoft also reminded company watchers where it plans to spend its money in FY 2007: About $450 million on marketing and launch-related costs; $450 million on sales force and general marketing growth; $1 billion in “the development of high-growth products and new products and services”; $500 million on online services (including adCenter, Office Live, CRM Live, Live.com, Search, etc.); and $300 million in general costs and unallocated acquisitions.