IBM says 2007 performance was strong
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- January
- 14
IBM Corp. of Armonk said this morning it expects to report earnings from operations of $2.80 a share for the fourth quarter of last year, a gain of 24 percent from the fourther quarter of 2006, when the company earned $2.26.
The company said revenues for the quarter were $28.9 billion, an increase of 10 percent from the fourth quarter a year earlier.
Earnings for the full year were about $7.18 a share, including 5 cents a share from the sale of IBM’s Printing Systems Division, the company said. That’s an increase of 18 percent over 2006.
Revenues for the year were $98.8 billion, an increase of 8 percent.
Samuel J. Palmisano, IBM’s chairman, president and chief executive, said in a statement released by the company: “The broad scope of IBM’s global business – led by strong operational performance in Asia, Europe and emerging countries – drove these outstanding results. IBM is well-positioned as we begin 2008 as a result of our global business reach, solid recurring revenue stream and strong financial position. We are on track to achieve our long-term earnings-per-share roadmap objective in 2010.”
The company plans to release more details Jan. 17.
IBM shares were trading at $103.47 a share, up $5.80 at about 11:03 a.m.
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on Monday, January 14th, 2008 at 12:26 pm by Allan Drury.
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Category: Corporate doings
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