Since Microsoft released its Windows 8 Consumer Preview in February, millions of users have downloaded the software giant’s latest operating system, which looks to carefully blend its existing mobile and desktop experiences into one. According to research from ad network Chitika, the Windows 8 CP adoption rate in the U.S. and Canada has doubled that of OS X Mountain Lion, Apple’s upcoming operating system. Of course Microsoft’s Windows 8 preview is publicly available for free while Apple’s Mountain Lion preview is available only to those with paid developer accounts. Chitika’s research was conducted from April 13th to April 19th and it analyzed hundreds of millions of impressions across the Chitika ad network. The Consumer Preview makes up .1% of all Windows traffic and exhibits traffic levels more than three times the peak level that the Windows 8 Developer Preview produced. The increased level of activity is a good sign for Microsoft, which will reportedly complete work on Windows 8 this summer. According to rumors, the first wave of PCs and tablets powered by the new platform are slated to launch in October.

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Microsoft’s Buildings Windows 8 Twitter account on Monday evening announced that the Windows 8 Release Preview will be available at some point during the first week of June. The announcement was made at Microsoft’s Japan Windows 8 Dev Days, and it comes almost two months after the release of the Windows 8 Consumer Preview. The software giant will reportedly complete work on Windows 8 this summer, and the first wave of PCs and tablets powered by the new platform will then launch in October according to rumors. Three versions of the operating system will be available — Windows 8, Windows 8 Pro and Windows RT, the stripped-down version of Windows 8 built for ARM-powered devices.

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Intel’s next-generation Ivy Bridge processors will be the first to feature a “3D Tri-Gate transistor,” The BBC reported on Sunday. The company plans to initially release 13 quad-core processors for desktop computers that it promises will offer more computational power while using less energy. Intel hopes its new transistors, which have been in development for 11 years, will help it challenge ARM’s reputation for energy efficiency. “This is the world’s first 22 nanometre product and we’ll be delivering about 20% more processor performance using 20% less average power,” the company said, adding that dual-core processors aimed at ultrabooks will be announced “later this spring.” Intel promises that “there will be 50% more supply than we had early in the product cycle of our last generation, Sandy Bridge, a year ago. And we’re still constrained based on the amount of demand we’re seeing in the marketplace.” Digitimes on Monday reported that shipments of the company’s latest processors will still be lower than expected, however, and it will not be able to satisfy the strong demand anticipated from PC vendors.

Read [BBC] Read [DigiTimes]

Samsung’s iCloud competitor, dubbed S-Cloud, may be unveiled at next month’s Galaxy S III announcement in London on May 3rd, a South Korean newspaper reported on Friday. The service is similar to Apple’s offering but without any limitations on the type of content users can upload. The service is also expected to have access to popular TV shows, movies and music with free and paid content that will be available across a range of Samsung devices. The amount of storage allotted to users is rumored to be “more than 5GB,” although it isn’t clear if that will be free or is there is an associated charge. Earlier rumors suggested Samsung would delay the service after having trouble developing a suitable infrastructure for the global market. According to Maeil Business, however, the company has partnered with Microsoft to support its S-Cloud service.

[Via The Verge]

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Microsoft on Monday announced that there will be three editions of its next-generation Windows 8 operating system: Windows 8, Windows 8 Pro and Windows RT. The Redmond-based company detailed each edition on its blog and promised “all editions of Windows 8 offer a no-compromise experience.” Windows 8 and Windows 8 Pro will support PCs and tablets powered by x86 processors, while Windows RT will be reserved for ARM-powered devices. The basic edition of Windows 8 is aimed at the average consumer, while the Windows 8 Pro edition is designed for tech enthusiasts and business and technical professionals and the RT edition is aimed at lighter-duty devices.

The Pro edition comes with all the features in Windows 8 plus encryption, virtualization, PC management and domain connectivity. “If you are an enthusiast or you want to use your PC in a business environment, you will want Windows 8 Pro,” the company said.

Windows RT, previously known as Windows on ARM, will only be available pre-installed on PCs and tablets powered by ARM processors, and it will include touch-optimized desktop versions of the new Microsoft Word, Excel, PowerPoint and OneNote. Microsoft will reportedly complete work on Windows 8 this summer, and the first wave of PCs and tablets powered by the new platform will then launch in October.

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The Pew Internet & American Life Project’s latest poll indicates that one in five adults in the United States still doesn’t use the Internet. “Senior citizens, those who prefer to take our interviews in Spanish rather than English, adults with less than a high school education, and those living in households earning less than $30,000 per year are the least likely adults to have Internet access,” Pew Internet said. Almost half of those adults who don’t use the Internet found the technology irrelevant to them, with most having never used it before. About one in five adults claimed they didn’t know enough about technology to start using the Internet on their own, and only 10% were interested in using the Internet or email in the future. Overall Internet adoption rates have leveled off, however adults already online are using the Web more often than ever before. Pew’s study also showed that 88% of American adults have a cell phone, 57% have a laptop, 19% own an eReader, 19% have a tablet and 63% access the Internet wirelessly with one of these devices.

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The “Flashback” trojan virus affecting at least 600,000 Macs was discovered last week that is capable of intercepting passwords and other private data. The discovery prompted Apple to release a Java update for OS X users that removed a number of common variants of the virus. Securelist on Saturday found another Mac trojan that is also spread through Java exploits, however. The malware, called Backdoor.OSX.SabPub, can take screenshots of a user’s current session, execute commands on an infected machine and connect to a remote website to transmit the data. It is not clear how users get infected with the trojan, but because of the low number of instances and the trojan’s backdoor functionality, Securelist speculates that it is most likely used in targeted attacks, possibly launched through emails containing a URL pointing to two one of websites hosting the exploit.

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Intel is expected to move up the announcement of its next-generation Ivy Bridge processors from the original date of April 29th to April 23rd, Digitimes reported on Thursday. ASUS, Acer, Lenovo and Hewlett-Packard are all preparing to release their second generation of ultrabooks in May, with average prices expected to “rapidly” drop from $999 to $699. To promote ultrabooks, Intel has also reportedly set up a $300 million fund to assist its partners in ultrabook design as well as research and development. Earlier rumors have suggested that Apple is planning to refresh its iMac family of computers with Intel’s 22nm-based Core i5 and Core i7 Ivy Bridge processors in June or July. The Cupertino-based company is also said to be ramping up production in preparation for thinner 13- and 15-inch MacBook Pro models.

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Microsoft products fit into two different life cycle stages — mainstream support and extended support. With mainstream support, users receive free security updates, stability improvements, bug fixes and occasional new features. In the extended support phase, security updates are available for free but other fixes require paid support. Microsoft reminded Windows XP users earlier this week that XP is now in the extended phase, and it said support for the operating system and Office 2003 will be officially discontinued by April 2014. Mainstream support for Windows Vista has also officially ended as of Tuesday, along with support for Office 2007. Both Windows Vista and Office 2007 will be in the extended support phase from now until April 2017. Microsoft recommends that users with PCs running Windows XP and Office 2003 should migrate to Windows 7 and Office 2010 before support is completely cut off and systems are left vulnerable to new forms of malware.

[Via Ars Technica]

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Apple is reportedly planning to refresh its iMac family of computers with Intel’s 22nm-based Core i5 and Core i7 Ivy Bridge processors in June or July, How To Arena reported on Wednesday, citing a “reliable tipster” in Apple’s supply chain. The Cupertino-based company is also reportedly ramping up production in preparation for thinner 13- and 15-inch MacBook Pro models, which will use the same Ivy Bridge processors. Previous rumors have suggested that Apple’s redesigned iMac would feature an anti-reflective glass display, and it should be slimmer and lighter than the current units. Apple’s iMac lineup was last updated in May 2011 with Intel’s Sandy Bridge processors, a high-speed Thunderbolt port and a high-definition FaceTime camera.

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On April 4th, 1975, two young programmers named Bill Gates and Paul Allen formed a partnership called “Micro-soft.” Gates was 22 years old at the time and Allen was just 19. The two young men had been friends since attending high school together in Seattle and after Allen took a job with MITS in Albuquerque, New Mexico in January 1975, Gates dropped out of his sophomore year at Harvard and moved to Albuquerque to form what would later become Microsoft. The pair moved from New Mexico to Bellevue, Washington in January 1979, and Microsoft would go on to incorporate on June 25th, 1981. The first Microsoft-powered IBM PC was unveiled later that year running Microsoft’s 16-bit MS-DOS 1.0 operating system, and the rest as they say, is history. Gates and Allen’s Microsoft went on to drive the personal computing boom that has taken place over the past three decades, and the firm’s upcoming Windows 8 OS looks to continue what the company’s founders started through the post-PC era and beyond. Happy birthday, Microsoft.

Android users who are looking to sell their old devices should be wary of the possible consequences. McAfee identity theft researcher Robert Siciliano warned that personal data from Android devices is not completely removed after a user activates the built-in wipe option, The Los Angeles Times reported on Friday. “What’s really scary is even if you follow protocol, the data is still there,” Siciliano said. If you have a BlackBerry or Apple device, Siciliano said your data can be fully deleted by following the manufacturer’s directions. As for smartphones running the Android operating system and computers running Windows XP, Siciliano recommends that people don’t bother with selling them at all. “Put it in the back of a closet, or put it in a vise and drill holes in the hard drive, or if you live in Texas take it out into a field and shoot it,” he said. “You don’t want to sell your identity for 50 bucks.” To test the security of various platforms, Siciliano purchased 30 smartphones and computers from Craigslist. The researcher was able to access personal data from 15 of the 30 devices through his own hacking efforts and the help of a forensic expert. The data obtained included bank account information, Social Security numbers, child support documents and credit card account log-ins.

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Best Buy on Thursday reported results for the fourth fiscal quarter of 2012. The nationwide retail giant had missed Wall Street’s estimates in both the second and third fiscal quarters, and it posted mixed results in the fourth quarter. Revenue came in at $16.6 billion compared to analysts’ consensus of $17.15 billion, and non-GAAP earnings of $2.47 per share, up 25% from the same quarter in fiscal 2011, beating the Street’s $2.15 EPS consensus. ”In order to help make technology work for every one of our customers and transform our business as the consumer electronics industry continues to evolve, we are taking major actions to improve our operating performance,” said Best Buy CEO Brian J. Dunn. ”As part of our multi-channel strategy, we intend to strengthen our portfolio of store formats and footprints — closing some big box stores, modifying others to our enhanced Connected Store format, and adding Best Buy Mobile stand-alone locations — all to provide a better shopping environment for our customers across multiple channels while increasing points of presence, and to improve performance and profitability.” After jumping more than 3% in pre-market trading, shares of Best Buy stock were down 7% shortly after the market opened on Thursday. The company’s full press release follows below.

Best Buy Reports Fiscal Fourth Quarter and Full Year 2012 Results

Outlines New Transformation Strategy Describes Specific Actions to Improve Business Performance – Fourth Quarter and Full Year EPS: GAAP: loss of ($4.89) in the fourth quarter; ($3.36) for the full year, inclusive of previously announced charges Adjusted (non-GAAP): profit of $2.47 in the fourth quarter, up 25 percent; $3.64 for the full year, up 6 percent – Transformation Strategy to Focus on: Multi-year cost reduction program U.S. store format improvements Growth initiatives  Improved customer experience – Actions to Improve Business Performance: $800 million in planned cost reductions by fiscal 2015; $250 million in fiscal 2013 Reductions to fund investments in enhanced customer experience and growth initiatives Launch Connected Store full market test in the Twin Cities and San Antonio in fiscal 2013 Closure of 50 U.S. big box stores in fiscal 2013 Opening of 100 U.S. Best Buy Mobile small format stand-alone stores in fiscal 2013 Plans to grow Domestic segment online revenue 15 percent in fiscal 2013 – Fiscal 2013 EPS Outlook GAAP:  $2.85 to $3.25 Adjusted (non-GAAP): $3.50 to $3.80, up 3 to 12 percent vs fiscal 2012 EPS of $3.39 (as recast for new fiscal year) MINNEAPOLIS, March 29, 2012 — Best Buy Co., Inc. (NYSE: BBY) today reported a GAAP net loss of ($1.7) billion, or ($4.89) per share, for its fourth quarter ended March 3, 2012 compared to net income of $651 million, or $1.62 per diluted share for the prior-year period. The fiscal fourth quarter 2012 results include $2.6 billion of charges primarily related to the actions announced on November 7, 2011, which consist of the purchase of Carphone Warehouse Group plc’s (CPW) share of the Best Buy Mobile profit share agreement and related costs, a non-cash impairment charge to reflect the write-off of Best Buy Europe goodwill, and restructuring charges (primarily associated with U.K. big box pilot store closures). Excluding the above charges, adjusted (non-GAAP) diluted earnings per share for the fourth quarter were $2.47, an increase of 25 percent when compared to adjusted diluted earnings per share of $1.98 for the prior-year period. Comparable store sales for the quarter declined 2.4 percent compared to a decline of 4.7 percent for the prior-year period. For the fiscal year ended March 3, 2012, GAAP loss per share totaled ($3.36) compared to diluted earnings per share of $3.08 in fiscal 2011. Adjusted (non-GAAP) diluted earnings per share for the fiscal year totaled $3.64, an increase of 6 percent when compared to the previous year’s adjusted diluted earnings per share of $3.43. Comparable store sales for the fiscal year declined 1.7 percent compared to a decline of 1.8 percent for the prior-year period. Please see “Reconciliation of Non-GAAP Financial Measures” attached to this release and on the investor relations website, www.investors.bestbuy.com, for more detail. ACTIONS TO TRANSFORM BUSINESS OPERATIONS “In order to help make technology work for every one of our customers and transform our business as the consumer electronics industry continues to evolve, we are taking major actions to improve our operating performance,” said Brian J. Dunn, CEO of Best Buy. “As part of our multi-channel strategy, we intend to strengthen our portfolio of store formats and footprints — closing some big box stores, modifying others to our enhanced Connected Store format, and adding Best Buy Mobile stand-alone locations — all to provide a better shopping environment for our customers across multiple channels while increasing points of presence, and to improve performance and profitability. “These changes will also help lower our overall cost structure. We intend to invest some of these cost savings into offering new and improved customer experiences and competitive prices — which will help drive revenue. And, over time, we expect some of the savings will fall to the bottom line. At the same time, we will continue to accelerate our key initiatives — growing connections and services, expanding our digital capabilities and growing our business in China. “As a result, we believe these actions will position us to grow earnings, improve ROIC, and increase value to our shareholders in the years ahead.” $800 Million Multi-year Cost Reduction Program In order to be more efficient and align the company with the opportunities that will provide the greatest returns, the company is taking significant actions to lower its cost base: Planning $800 million in cost reductions by fiscal 2015; including approximately $250 million in fiscal 2013. The planned Domestic segment reductions include: Retail stores: $300 million Corporate and support structure: $300 million Cost of goods sold: $200 million. Specific actions intended to lower costs are expected to include: The closure of 50 U.S. Best Buy big box stores in fiscal 2013. Cost savings in corporate and support structure from IT services savings, procurement savings on non merchandise purchases, a reduction in outside consultant services and reduction of approximately 400 positions in our corporate and support areas. Savings in cost of goods sold driven by reduction of product transition costs, lower product return and exchange expenses and supply chain efficiencies. U.S. Store Format Improvements Best Buy’s retail store strategy is to increase points of presence, while decreasing overall square footage, for increased flexibility in a multi-channel environment. The company intends to remodel key stores with a new Connected Store format in fiscal 2013, and to continue to build out the successful Best Buy Mobile small format stores throughout the U.S. Based on results from store pilots conducted in 2010 and 2011, Best Buy will be deploying “at-scale” market tests of its new Connected Store format in the Twin Cities and San Antonio metro areas. The store remodels are expected to be completed before the 2012 holiday season. Connected Stores are remodeled big box stores that focus on connections(1), services and multi-channel experience through a total transformation of both the store and the operating environment. The company expects total big box square footage in these combined test markets to be reduced by almost 20 percent through store downsizing and closures, while points of presence will increase by more than 20 percent. Best Buy expects to open another 100 U.S. Best Buy Mobile small format stores in fiscal 2013 and continues to expect to have a total of 600 to 800 such stores by fiscal 2016 (from 305 today). Growth Initiatives Best Buy plans to invest to maximize the long-term opportunities offered through its existing four key growth initiatives: e-commerce, connections, services and China. Domestic segment online sales are expected to grow 15 percent in fiscal 2013 and the company continues to expect to reach $4 billion by fiscal 2016. As announced earlier this month, Stephen Gillett has been named to the newly created role of executive vice president and president, Best Buy Digital and Global Business Services to lead the company’s global digital strategy. Connections in the U.S. are targeted to grow 15 percent in fiscal 2013, driven by continued mobile phone growth and increased connections in other product categories including tablets and computing. Revenue from Domestic segment services category is expected to grow 10 percent in fiscal 2013. In China, the company plans to open 50 new Five Star stores in fiscal 2013, including 14 new mobile store-within-a-store concepts, and continues to target $4 billion in sales and a total of 400 to 500 (from 204 today) Five Star stores by fiscal 2016. Improved Customer Experience Best Buy plans to expand the benefits under its Reward Zone Silver loyalty program, whose members account for a significant percentage of the company’s profit. Reward Zone Silver customers will receive exciting enhancements including free expedited shipping, premier access to many of the most popular products and major sales events, a free house call from the Geek Squad, and 60-day no hassle returns and price-match policy. As part of the company’s actions to significantly improve the customer experience, Best Buy will be making important changes later this year to its store operating model that are designed to drive a differentiated employee experience. The company plans to introduce a new store labor model to be implemented in all of its U.S. big box stores before the 2012 holiday season that will provide increased store employee training and a new enhanced compensation plan that introduces financial incentives for delivering on customer service and business goals. The new compensation plan, which will be implemented across the company later this year, is based on a model that has been used successfully in the company’s Best Buy Mobile stores. FOURTH QUARTER AND FULL YEAR FISCAL 2012 FINANCIAL RESULTS As announced November 7, 2011, net operating results from the closed Best Buy stores in the U.K., China and Turkey, along with other recently sold businesses, are now treated as discontinued operations. All information regarding the company’s operating results, unless otherwise noted, pertains to its continuing operations. FISCAL FOURTH QUARTER PERFORMANCE SUMMARY (U.S. dollars in millions, except per share amounts) Three Months Ended Mar. 3, 2012 Feb. 26, 2011 Change GAAP Revenue $16,630 $16,083 3% Comparable store sales % change(2) (2.4%) (4.7%) – Gross profit $4,057 $3,929 3% SG&A $2,765 $2,654 4% Restructuring charges $16 $138 (88%) Goodwill impairment charge $1,207 – – Operating income $69 $1,137 (94%) Diluted EPS from continuing operations ($4.73) $1.84 n/a Diluted EPS, including discontinued operations ($4.89) $1.62 n/a Adjusted (non-GAAP) Results(3) Gross profit as % of revenue 24.5% 24.5% 0bps SG&A as % of revenue 16.3% 16.5% (20bps) Operating income $1,357 $1,284 6% Operating income as % of revenue 8.2% 8.0% 20bps Diluted EPS from continuing operations $2.50 $2.07 21% To facilitate comparison to prior results and expectations, the following table presents key line items that reflect adjusted (non-GAAP) results from both continuing and discontinued operations. Please see “Reconciliation of Non-GAAP Financial Measures” attached to this release for more detail. Three Months Ended Mar. 3, 2012 Feb. 26, 2011 Change Adjusted (non-GAAP) Results, including both continuing and discontinued operations(4) Revenue $16,730 $16,256 3% Gross profit as % of revenue 24.5% 24.4% 10bps SG&A as % of revenue 16.5% 16.9% (40bps) Operating income $1,326 $1,227 8% Operating income as % of revenue 7.9% 7.5% 40bps Diluted EPS $2.47 $1.98 25% Fiscal Fourth Quarter 2012 Highlights Domestic segment online revenue growth of 21 percent Domestic segment mobile phones comparable store sales growth of 20 percent Domestic segment connections growth of 13 percent Domestic segment tablets and eReaders comparable store sales each increased low triple-digits Domestic segment comparable store sales declines in gaming, notebooks, digital imaging and televisions International gross profit rate improvement of 120 basis points Share repurchases of $317 million (12.8 million shares) Fiscal Full Year 2012 Highlights Comparable store sales decline of (1.7) percent Estimated gain in total market share in the Domestic segment Domestic segment online revenue growth of 18 percent Domestic segment mobile phones comparable store sales growth of 13 percent Domestic segment connections growth of 11 percent International adjusted operating income dollars increased 17 percent Free cash flow of $2.5 billion(5) Share repurchases of $1.5 billion (54.6 million shares) Closed U.K. big box pilot stores to refocus Best Buy Europe on 2,400 small format stores Purchased CPW’s interest in Best Buy Mobile profit share agreement in the U.S. and Canada to more fully capitalize on the significant and growing connections opportunity Revenue Three Months ended March 3, 2012 Prior-Year Period ($millions) Revenue Change YOY Comp. Store Sales Comp. Store Sales Domestic $12,600 4.2% (2.2%) (5.5%) International 4,030 1.1% (2.9%) (1.7%) Total $16,630 3.4% (2.4%) (4.7%) Total company revenue was $16.6 billion during the fiscal fourth quarter, an increase of 3.4 percent compared to the prior-year period and included a comparable store sales decline of 2.4 percent. Excluding the 53rd week in the fourth quarter of fiscal 2012, total company revenue declined 1.1 percent compared to the prior-year period. The Domestic segment areas of comparable store sales growth included tablets and mobile phones within the Computing & Mobile Phones revenue category and eReaders within the Consumer Electronics revenue category. These increases were more than offset by comparable store sales declines in other areas, including gaming within the Entertainment revenue category, notebooks within the Computing and Mobile Phones category and digital imaging and televisions within the Consumer Electronics revenue category. The Domestic segment online channel delivered a 21 percent revenue increase compared to the prior-year period. The International segment comparable store sales decline was primarily driven by industry softness in gaming, home theater and digital imaging in Canada and lower connections in Europe given the difficult macro environment, partially offset by gains in Five Star stores in China. Gross Profit Three Months ended March 3, 2012 ($millions) Gross Profit Change YOY % of Revenue Domestic $3,015 2% 23.9% International 1,042 6% 25.9% Total $4,057 3% 24.4% Adjusted gross profit – Domestic $3,034 3% 24.1% Adjusted gross profit – International 1,042 6% 25.9% Adjusted gross profit(3) $4,076 4% 24.5% Excluding restructuring charges, Domestic segment adjusted gross profit dollars increased 3 percent including the 53rd week and represented a rate decline of 40 basis points. The primary factor influencing this Domestic segment rate decline was a larger mix of lower-margin promotional small and mid-size televisions. International segment gross profit dollar growth of 6 percent was the result of a rate increase of 120 basis points driven by improvements from stores throughout the International segment. Selling, General and Administrative expenses (“SG&A”) Three Months ended March 3, 2012 ($millions) SG&A Change YOY % of Revenue Domestic $1,932 1% 15.3% International 833 13% 20.7% Total $2,765 4% 16.6% Adjusted SG&A – Domestic $1,932 1% 15.3% Adjusted SG&A – International 787 7% 19.5% Adjusted SG&A(3) $2,719 2% 16.3% In the Domestic segment, focused cost control activities resulted in only 1 percent growth in SG&A spending compared to the prior-year period. The International segment’s SG&A includes $46 million in costs related to the purchase of CPW’s share of the Best Buy Mobile profit share agreement. Excluding those expenses, International segment adjusted SG&A spending increased 7 percent, driven primarily by the absence of a Best Buy Mobile profit share payment, which historically was an increase in Domestic segment SG&A and a reduction in International segment SG&A, and new store openings in Canada. Total company adjusted SG&A dollar spending increased 2 percent and as a percent of revenue improved 20 basis points. Excluding the effect of the 53rd week, total company adjusted SG&A spending was approximately flat. Operating Income Three Months ended March 3, 2012 ($millions) Operating Income Change YOY % of Revenue Domestic $1,077 8% 8.5% International (1,008) n/a n/a Total $69 (94%) 0.4% Adjusted operating income – Domestic $1,102 6% 8.7% Adjusted operating income – International 255 2% 6.3% Adjusted operating income(3) $1,357 6% 8.2% Excluding restructuring charges, costs related to the purchase of CPW’s share of the Best Buy Mobile profit share agreement and the goodwill impairment, adjusted operating income for the quarter increased 6 percent to $1.4 billion, or 8.2 percent of revenue, compared to $1.3 billion, or 8.0 percent of revenue, for the prior-year period. Please see the table titled “Reconciliation of Non-GAAP Financial Measures” attached to this release for more detail. Free Cash Flow, Share Repurchases and Dividends Fiscal 2012 free cash flow was $2.5 billion, primarily driven by effective management of inventory levels and the timing of several working capital items at the end of the previous fiscal year. During the fourth quarter, the company repurchased $317 million, or 12.8 million shares, of its common stock at an average price of $24.76 per share. For the full year, the company repurchased $1.5 billion, or 54.6 million shares, of its common stock at an average price of $27.47 per share. On January 24, 2012, the company paid a quarterly dividend of $0.16 per common share outstanding, or $56 million in the aggregate. Fiscal Year Change  As announced on November 7, 2011, Best Buy will change its fiscal year to end the Saturday nearest the end of January, effective starting in the first quarter of fiscal 2013. Below is detail on the quarterly periods for fiscal 2013, which includes 53 weeks: 1st Fiscal Quarter: Feb. / March / April January 29, 2012 to May 5, 2012 2nd Fiscal Quarter: May / June / July May 6, 2012 to August 4, 2012 3rd Fiscal Quarter: Aug. / Sept. / Oct. August 5, 2012 to November 3, 2012 4th Fiscal Quarter: Nov. / Dec. / Jan. November 4, 2012 to February 2, 2013 Under the new fiscal year, fiscal 2013 will include 53 weeks, while the recast fiscal 2012 includes 52 weeks. The company’s annual report for fiscal 2013 on Form 10-K will cover the 11-month period of March 4, 2012, to February 2, 2013. For important information on the fiscal year change, including fiscal 2011 and 2012 financial statements recast for the new fiscal year, please visit the company’s investor relations website,www.investors.bestbuy.com. Fiscal 2013 Annual Guidance  The following guidance is based on the company’s new fiscal year. Fiscal 2013 comprises the 53-week period ending on February 2, 2013, and fiscal 2012 now comprises the 52-week period ending on January 28, 2012. Revenue expected in the range of $50.0 billion to $51.0 billion, reflecting a comparable store sales decline in the range of 2 to 4 percent. These expected results are compared with fiscal 2012 revenue of $50.0 billion and comparable store sales decline of 2.1 percent (recast for the new fiscal year). Adjusted (non-GAAP) operating income dollars expected to decrease 4 to 11 percent when compared to adjusted operating income for fiscal 2012 from continuing operations (recast for the new fiscal year) of $2.3 billion. Adjusted operating income dollars expected to be in the range of a 4 percent decline to 4 percent growth when compared to adjusted operating income for fiscal 2012 from total operations (including both continuing and discontinued operations recast for the new fiscal year) of $2.1 billion. Adjusted (non-GAAP) diluted EPS expected in the range of $3.50 to $3.80, including the expected repurchase of approximately $750 million to $1.0 billion of common shares and excluding fiscal 2013 restructuring costs related to the transformation strategy outlined above. This reflects growth of 3 to 12 percent over the fiscal 2012 adjusted EPS based on the new fiscal year of $3.39. The company’s preliminary estimates for pre-tax restructuring charges in fiscal 2013 related to its transformation strategy outlined above is a range of $300 to $350 million, including store closures, severance, asset impairments and other costs. Including these charges, the preliminary GAAP diluted EPS is expected in the range of $2.85 to $3.25. Please see “Reconciliation of Non-GAAP Guidance” attached to this release for more detail. For more information on the fiscal year change, including fiscal 2011 and fiscal 2012 financial statements recast for the new fiscal year, please visit the company’s investor relations website, www.investors.bestbuy.com.

Some believe a future full of massive, gesture-controlled computer displays like the ones seen in Twentieth Century Fox’s Minority Report are an inevitability, and a prototype PC designed by an intern with the Microsoft Applied Sciences Group may be among the first steps in making that future a reality. Massachusetts Institute of Technology Ph.D student and MIT Media Lab research assistant Jinha Lee recently set out to change the way we interact with desktop computers. While progress has been made with 3D display technology, 3D has not yet proliferated in the personal computing space and Lee wants to change that. The end result of his work is a fascinating desktop computer with a transparent 3D display and a unique gesture-based interface that could change the way we use computers.

“Computer scientist Ivan Sutherland once called a computer display ‘a looking glass into a mathematical wonderland,’ and I have always aspired to walk in this wonderland to interact with those abstract beings,” Lee wrote on his blog. Lee’s creation, built in cooperation with researchers and engineers at the Microsoft Applied Sciences Group, does just that.

Lee’s PC uses a transparent display with 3D technology and gesture recognition. Gestures are performed behind the angled display rather than in front of it as with most gesture-based control systems, and a front-facing camera system tracks the user’s head so the 3D perspective shown on the computer’s display adjusts appropriately when the user shifts his or her position. The machine’s operator can also control the computer with a standard keyboard and trackpad positioned behind the display.

A video showcasing Lee’s 3D computer follows below.

The user interface on Lee’s PC shows stacks of windows in a 3D environment. The computer tracks the user’s hands on all three axes, allowing the operator to grab items shown on the screen and interact with them in all three dimensions by moving virtual objects along the x, y, or z axis. This innovative combination of solutions opens a wide range of possibilities for PC software and is far more advanced and versatile than touchscreen technology, which only provides two dimensions that the user is able to interact with.

“Users can casually open up the See-Through 3D Desktop and Type on the keyboard or use a trackpad as in traditional 2D operating environment,” Lee explains. “Windows or files are perceived to be placed in a 3D space between a screen and the input plane. The user can lift up his hands to reach the displayed windows and arrange them in this 3D space.”

Lee has not addressed the possibility of a production version of his see-through 3D desktop PC.

Users who are interested in a Google-powered Chromebook only have two options, Acer’s AC700 or Samsung’s Series 5 Chromebook. Both laptops are powered by an Intel Atom processor, the only chip the platform currently supports. Recent rumors have suggest that Chrome OS may soon support ARM-based processors, however, opening up a number of new doors for the platform. According to the Chromium OS issue tracker, a new product code-named “Daisy” is mentioned numerous times, equipped a Samsung Exynos 5250 chip. Samsung’s 32nm chip will feature an ARM Cortex-A15 design and will be capable of running at speeds up to 2GHz — all while using less power than ARM Cortex-A9 chips and Intel Atom processors. The Chromium project is open-source, with user contributions playing a large roll in development. As such, the “Daisy” appearances do not necessarily mean Google is directly involved with the development.

[Via Liliputing]

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