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IBM chip business boosts Q1 results

Posted: 20 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Mark LaPedus?

Citing strong results in its semiconductor and other businesses, IBM Corp. said that Q1 income from continuing operations was $1.7 billion, up 21 percent from $1.4 billion a year ago.

IBM posted Q1 diluted earnings per common share of $1.08 from continuing operations, compared with diluted earnings of 85 cents per share in the first quarter of 2005, an increase of 27 percent.

Total revenues were $20.7 billion in the first period, down 10 percent from a year ago. Revenues from IBM's Microelectronics Group increased 37 percent.

The company also beat Wall Street's expectations that it was supposed to earn $1.05 per share on sales of $20.72 billion.

Samuel Palmisano, IBM's chairman and chief executive, was upbeat, especially about the chip sector. "We had very strong results in middleware and continued revenue growth in microelectronics for our 300-mm wafer products that serve the major gaming platforms," he said in a statement. "Services signings increased, services margins rose for the seventh straight quarter year to year, and IBM again grew in emerging markets."

- Mark LaPedus
EE Times

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