IBM Issues Preliminary 2007 Fourth-Quarter And Full-Year Results

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ARMONK, NY - 14 Jan 2008: IBM (NYSE: IBM) today announced fourth-quarter 2007 diluted earnings of $2.80 per share from continuing operations, an increase of 24 percent, compared with diluted earnings of $2.26 per share in the fourth quarter of 2006. The company also reported fourth-quarter revenue of $28.9 billion, an increase of 10 percent as reported, including 6 points of currency benefit, compared with the fourth quarter of 2006.

IBM reported full-year 2007 diluted earnings of $7.18 per share, including 5 cents per share relating to the sale of the Printing Systems Division in the second quarter, an increase of 18 percent, compared with diluted earnings of $6.06 per share in 2006. The company also reported full-year revenue of $98.8 billion, an increase of 8 percent, including 4 points of currency benefit.

IBM’s cash balance at the end of 2007 was more than $16 billion, with strong free cash flow performance.

“The broad scope of IBM’s global business --- led by strong operational performance in Asia, Europe and emerging countries --- drove these outstanding results,” said Samuel J. Palmisano, IBM chairman, president and chief executive officer.

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

IBM will provide more detailed information about its fourth-quarter and full-year 2007 results during its regularly-scheduled earnings Webcast on January 17.

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