IBM Corp said at the US AS/400 launch that revenues from the line are recovering in the first quarter after a decline in the fourth quarter of 1992 and that it expects the line to outperform the industry in 1993 by about two to three percentage points – it sees the mid-range market as a whole growing 1% to 2% this year; IBM also expects the AS/400 line’s profitability to continue to increase in 1993, and should exceed 1992 pre-tax profits of $1,100m on retail revenues of $4,400m, which covers processor hardware and operating software.
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