LEADING computer hardware manufacturer, IBM, has released impressive results showing a record revenue of US$103,6 billion in 2008, despite difficult trading conditions.
The company said the results were inspired by a strong performance in the last quarter of the year.
The fourth quarter income from continuing operations was US$4,4 billion compared to US$4 billion in the fourth quarter of 2007, an increase of 12 percent, while total revenue for the fourth quarter of 2008 of US$27 billion decreased six percent from the fourth quarter of 2007, IBM said.
Revenues from Europe, Middle East and Africa were US$9,5 billion.
Following the results, Samuel J. Palmisano, IBM chairman, president and chief executive officer, said they were confident of an even better performance in 2009.
“A strong fourth quarter capped an outstanding year. In 2008 IBM performed well in an extremely difficult economic environment. Clearly our strategic transformation – migrating to the more profitable segments of the industry, investing in growth regions of the world, and driving productivity through global integration – is continuing to pay dividends.
“With our strong financial position, solid recurring revenue and profit streams and global reach, we are confident about 2009 and, based on our 2008 performance, we are ahead of pace on our roadmap for US$10 to US$11 per share,” he said.
IBM said that it expected full-year 2009 earnings of at least US$9,20 per share–ITNewsAfrica.
