“Fourth-Quarter 2012:
- Diluted EPS:
- GAAP: $5.13, up 11 percent;
- Operating (non-GAAP): $5.39, up 14 percent;
- Net income:
- GAAP: $5.8 billion, up 6 percent;
- Operating (non-GAAP): $6.1 billion, up 10 percent;
- Gross profit margin:
- GAAP: 51.8 percent, up 1.8 points;
- Operating (non-GAAP): 52.3 percent, up 2.1 points;
- Revenue of $29.3 billion, down 1 percent, flat adjusting for currency:
- Up 1 percent excluding divested RSS business adjusting for currency;
- Free cash flow of $9.5 billion, up $0.6 billion;
- Software revenue up 3 percent, up 4 percent adjusting for currency;
- Services revenue down 2 percent, down 1 percent adjusting for currency;
- Services backlog of $140 billion, flat, up $1 billion adjusting for currency;
- Systems and Technology revenue down 1 percent, up 4 percent excluding RSS:
- System z mainframe up 56 percent.
Full-Year 2012:
- Diluted EPS, up double-digits for 10thconsecutive year:
- GAAP: $14.37, up 10 percent;
- Operating (non-GAAP): $15.25, up 13 percent;
- Net income:
- GAAP: $16.6 billion, up 5 percent;
- Operating (non-GAAP): $17.6 billion, up 8 percent;
- Revenue of $104.5 billion, down 2 percent, flat adjusting for currency;
- Free cash flow of $18.2 billion, up $1.6 billion;
- Growth markets revenue up 4 percent, up 7 percent adjusting for currency:
- BRIC countries up 7 percent, up 12 percent adjusting for currency;
- Business analytics revenue up 13 percent;
- Smarter Planet revenue up more than 25 percent;
- Cloud revenue up 80 percent.
Full-Year 2013 Expectation:
- GAAP EPS of at least $15.53 and operating (non-GAAP) EPS of at least $16.70.
IBM (IBM) today announced fourth-quarter 2012 diluted earnings of $5.13 per share, compared with diluted earnings of $4.62 per share in the fourth quarter of 2011, an increase of 11 percent. Operating (non-GAAP) diluted earnings were $5.39 per share, compared with operating diluted earnings of $4.71 per share in the fourth quarter of 2011, an increase of 14 percent.
Fourth-quarter net income was $5.8 billion compared with $5.5 billion in the fourth quarter of 2011, an increase of 6 percent. Operating (non-GAAP) net income was $6.1 billion compared with $5.6 billion in the fourth quarter of 2011, an increase of 10 percent.
Total revenues for the fourth quarter of 2012 of $29.3 billion decreased 1 percent (flat adjusting for currency) from the fourth quarter of 2011. Without the impact of the divested Retail Store Solutions (RSS) business, revenue increased 1 percent, adjusting for currency….”
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