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July 17, 1990

IBM COMMENT ON SALES FIGURES

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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