IBM Income Jumps 7% in 2011

Revenues in BRIC countries increased 10%

Driven by surging business in dynamic emerging economies, IBM said on Jan. 20 that its net income jumped 7% in 2011.

Net income for the year hit $15.9 billion on revenues of $106.9 billion, also up 7% for the year.

Earnings per share rose 13% to $13.06, the ninth straight year EPS scored double-digit growth, said the company, which celebrated its 100th anniversary last year.

Fourth-quarter net earnings rose more slowly, up 4% to $5.5 billion on a 2% rise in revenue.

"We had a strong fourth-quarter performance, capping a year of record earnings per share, revenue, profit and free cash flow," said IBM chief executive Ginni Rometty.

"We delivered outstanding results in all four of our strategic initiatives for the quarter and the year, as we continued to realize the benefit of our long-term investments in growth markets, business analytics, Smarter Planet solutions and cloud.
"We are well on track toward our long-term roadmap for operating earnings per share of at least $20 in 2015."

The company said revenues in the BRIC countries -- Brazil, Russia, India and China -- increased 10%, while just three percent in the Americas and one percent in its combine Europe-Middle East-Africa division.

Copyright Agence France-Presse, 2012

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