Local money machine Microsoft posted record revenues of $20.89 billion for its quarter ending December 31, 2011, but profits were down ever-so-slightly, to $6.62 billion from $6.63 billion in the year-ago quarter. Sales of Microsoft's flagship Windows operating system fell 6 percent, to $4.74 billion, largely due to a "soft PC market."

Still, Microsoft remains enormously profitable, and the quarterly results slightly beat analysts' expectations. So no "Kodak moment" quite yet for the local software giant.