The Armonk, N.Y.-based company also increased its full-year forecast of earnings per share by 3 cents to $4.99 and took a cautiously optimistic tone about future spending on technology by corporations.
"This pattern of moderate expansion continues," Mark Loughridge, IBM's chief financial officer, said in a conference call on Monday. He added that corporate spending is growing at about 4 percent or 5 percent per year--consistent with the second quarter of 2004 and the best since 2000.
For the third quarter ended Sept. 30, IBM said that earnings were $1.8 billion, or $1.06 per share, after the pension-related charge is taken into account. That compares with $1.79 billion for the same period last year--a rise of 1 percent. Without the charge, third-quarter income would have been $2 billion, an increase of 12 percent.
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Now, cough up the rest of the $6 BILLION owed!
No_Ax_to_Grind | 10/19/04
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