Asia-Pacific, Europe contribute to financial growth at IBM

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Asia-Pacific, Europe contribute to financial growth at IBM

IT giant, IBM said strong operational performance in Asia-Pacific and Europe helped contribute to strong economic growth in 2007.

Total revenues for the fourth quarter of 2007 were US$28.9 billion, an increase of 10 percent (four percent, adjusting for currency) from the fourth quarter of 2006.

Samuel J. Palmisano, IBM chairman, president and chief executive officer said IBM’s business was being lead by strong operational performance in Asia, Europe and emerging countries. Continued growth in services and software has also driven these outstanding results.

"As we begin 2008, IBM is well-positioned as a result of our global business reach, solid recurring revenue and profit streams, and strong financial position. We are on track to achieve our long-term earnings-per-share roadmap objective in 2010," he said.

From a geographic perspective, the Americas' fourth-quarter revenues were US$11.7 billion, an increase of five percent as reported (two percent, adjusting for currency) from the 2006 period. Revenues from Europe/Middle East/Africa were US$10.8 billion, up 16 percent (six percent, adjusting for currency).

Asia-Pacific revenues increased 15 percent (nine percent, adjusting for currency) to $5.5 billion. OEM revenues were US$894 million, down 13 percent compared with the 2006 fourth quarter.

Global Financing segment revenues increased eight percent (two percent, adjusting for currency) in the fourth quarter to $668 million. The company's total gross profit margin was 44.9 percent in the 2007 fourth quarter compared with 44.6 percent in the 2006 period, said Palmisano.
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