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July 17, 1990


By CBR Staff Writer

Commenting to analysts on its figures after publication on Monday, IBM said that mainframe sales were flat both with the second quarter a year ago and, more ominously, with the first quarter, which usually accounts for 15% of mainframe sales against 25% for the second quarter; the company saw double-digit growth in PS/2 sales, the AS/400 was solid and there was growth in 3390 disk drive sales: pre-tax margins were 15.7%, half a point below what analysts had hoped for, because of the preponderance of low-margin products in the sales mix; IBM said that the weakening dollar was good for 20 cents on the earnings per share figure and that benefits from restructuring should have a strong impact on second half performance.

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