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October 19, 2010

IBM Q3 revenue increases marginally to $24.3bn

Expects $11.40 per share for full-year 2010

By CBR Staff Writer

IBM has reported revenue of $24.3bn in the third quarter of 2010, up 3.5% as compared to $23.6bn in the same period last year.

The company posted a total gross profit margin of 45.3% as compared to 45.1% in the third quarter of previous year, led by improving margins in systems and technology and software.

For the quarter ended September 30 2010, net income increased 11.7% to $3.6bn as compared to $3.2bn in the same period a year ago.

The diluted earnings increased 17.5% to $2.82 per share from $2.40 per share.

Geographically, the America’s revenue increased 3% to $10.2bn and the revenue from the Europe/Middle East/Africa was down 6% to $7.4bn. Asia-Pacific revenues increased 14% to $5.9bn.

The revenue from the software segment rose 1% to $5.2bn and revenue from IBM’s middleware products, which include WebSphere, information management, Tivoli, Lotus and rational products reached $3.1bn, an increase of 7% compared to same period last year.

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The systems and technology segment revenue increased 10% to $4.3bn.

IBM chairman, president and chief executive officer Samuel Palmisano said that in the third quarter they grew revenues in their hardware, software and services businesses, expanded margins and again increased earnings per share at double digits.

"Looking ahead, we are uniquely positioned in the enterprise, investing in high value segments like business analytics, advanced systems and smarter planet offerings," Palmisano said.

The company expects to register at least $11.40 per share for full-year 2010.

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