I'll wade through this and see if there is any direct-Rochester issues.
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Third-quarter
net income was $3.2 billion compared with $2.8 billion in the third quarter of
2008, an increase of 14 percent. Total revenues for the third quarter of
2009 of $23.6 billion increased 1 percent from the second quarter of 2009, and
decreased 7 percent (5 percent, adjusting for currency) from the third quarter
of 2008.
IBM
REPORTS 2009 THIRD-QUARTER RESULTS
· Diluted earnings of $2.40
per share, up 18 percent;
· Full-year 2009 EPS
expectations raised to at least $9.85 from at least $9.70;
· Net income of $3.2 billion, up 14
percent; net margin of 13.6 percent, up 2.5 points;
· Free cash flow of $3.4 billion,
up $1.3 billion year-to-year;
· Cash balance of $11.5 billion,
while reducing debt $4 billion in third quarter;
· Pre-tax income margin of 18.6
percent, up 3.2 points;
· Gross profit margin of 45.1 percent, up 1.8 points; up
20 of last 21 quarters;
· Revenue of $23.6 billion, up 1 percent
quarter-to-quarter; down 7 percent, or 5 percent adjusting for currency
year-to-year;
· Software pre-tax margin of 32.1 percent, up 6.2
points; profit up 21 percent;
· Services pre-tax margin of 14.9 percent, up 2.4
points; profit up 11 percent;
· Services signings of $11.8 billion; 13 services deals
greater than $100 million;
· Services backlog of $134 billion, up $5 billion
year-to-year;
· Market share gains in hardware and software.
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