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April 20 news, IBM announced the date of the first quarter 2011 financial results. Report, IBM revenue in the quarter of 24.6 billion, up 8%; combined net profit of 2.9 billion $ 2.31 diluted earnings per share were up 10% and 17%.
Financial Summary
* Diluted earnings per share: GAAP earnings per share of $ 2.31, up 17%; non-GAAP earnings per share of $ 2.41, up 21%;
* Revenue of 246 billion U.S. dollars, an increase of 8%, according to constant exchange rates, adjusted revenue grew 5%;
* Net income: GAAP net profit of 2.9 billion, up 10%, non-GAAP net profit of 3.0 billion, an increase of 13%;
* Pre-tax profit: GAAP profit of 3.8 billion, up 9%, non-GAAP profit of $ 4,000,000,000, an increase of 12%;
* Gross margin: GAAP gross margin 44.1%, up 0.5 percentage points, non-GAAP gross margin 44.5%, up 0.8 percentage points;
* The software sector: PLM after excluding stripping business, revenue grew 10%, according to constant exchange rates, adjusted revenue growth of 8%; calculated PLM business income, revenue grew 6% at constant exchange rates in accordance with adjusted revenue growth of 4%;

* Systems and Technology Department: Revenue up 19% at constant exchange rates in accordance with the adjusted revenue growth of 16%;
· Z system host sector: revenue grew 41%; MIPS grew 34%;
* Services: revenue grew 6% at constant exchange rates in accordance with the adjusted revenue growth of 3%;
* Service Order 142 billion U.S. dollars of stock, an increase of 80 million;
* Growth in market sector revenue grew 18%, according to constant exchange rates, adjusted revenue growth of 12%;
* Business analysis department of revenue grew 20%;
* Smart Earth sector revenue grew 20%;
* Goes the first quarter 2010 revenue of 5 times;
* 2011 full-year non-GAAP earnings per share is expected to 13-13.15 dollars; GAAP earnings per share in the 12.56-12.73 U.S. dollars.
Regional revenue
First quarter revenue of 10.3 billion U.S. dollars, an increase of 9% (at constant exchange rates in accordance with the adjusted revenue growth of 8%). Europe / Middle East / Africa revenue was 78 billion U.S. dollars, an increase of 3% (at constant exchange rates in accordance with the adjusted revenue growth of 2%). Asia Pacific revenue was 59 billion U.S. dollars, an increase of 12% (constant exchange rates in accordance with the adjusted revenue growth of 4%). OEM revenues were $ 600,000,000, an increase of 13%.
Growth markets
Growth in the market from the company grew revenue 18% (constant exchange rates in accordance with the adjusted revenue growth of 12%). From the BRIC countries – Brazil, Russia, India and China revenue grew 26% (constant exchange rates in accordance with the adjusted revenue growth of 22%). IBM accounted for revenue growth in the first quarter of the market total revenue 21%.
Services
Global Services revenue grew 6% (at constant exchange rates in accordance with the adjusted revenue growth of 3%). Global Technology Services revenue grew 6% (at constant exchange rates in accordance with the adjusted revenue growth of 3%), up to 99 billion U.S. dollars. Global Business Services revenue grew 7% (constant exchange rates in accordance with the adjusted revenue growth of 3%), to 4.7 billion.
Global Services profit before tax up 34% to 19 billion U.S. dollars. Global Technology Services pre-tax profit up 29%, pre-tax margin of 12.2% (calculated in the first quarter of 2010 and first quarter of 2011, the staff of adjustment costs, adjusted to 10%, respectively, and 13.3%). Global Business Consulting Services pre-tax profit up 44%, pre-tax profit margin 13.0% (calculated in the first quarter of 2010 and first quarter of 2011, the staff of adjustment costs, the adjusted 19% and 14%).
Ended March 31, 1420 the total stock of the service order billion, an increase of 80 billion (at constant exchange rates, the adjusted increase of 15 billion U.S. dollars).
Software,
Revenue of 5.3 billion software division, an increase of 6% (at constant exchange rates in accordance with the adjusted increase of 4%); the first quarter of 2010 excluding the divestiture of the product life cycle management business (PLM), an increase of 10% (by not changing exchange rates, adjusted for growth of 8%). Software sector pre-tax profit of 1.7 billion, down 18% (calculated PLM business and sold the first quarter of 2010 and first quarter of 2011, staff cost adjustments, the adjusted increase of 9%).
The key middleware products from IBM, including WebSphere, Information Management Software, Tivoli, Lotus and Rational products, revenue is 33 billion U.S. dollars, up 16% (constant exchange rates in accordance with the adjusted increase of 14%). Revenue of 542 million operating system, an increase of 9% (at constant exchange rates in accordance with the adjusted increase of 4%).
Revenue from the WebSphere family of software products grew 51%. Information management software revenue grew 13%. From Tivoli software revenue grew 8%. Lotus software revenue grew from 1%, from Rational Software revenue grew 5%.
Services and software from the corporate sector of business revenue grew 20%.
Hardware sector
Systems and technology department from the total revenue of 40 billion U.S. dollars, an increase of 19% (constant exchange rates in accordance with the adjusted increase of 16%). Systems and technology department for the 132 million pre-tax profits, an increase of 329 million.
Systems revenue grew 18% (constant exchange rates in accordance with the adjusted increase of 16%). System z mainframe server products from revenue up 41%. z The total computing power delivery system, according to MIPS (million instructions per second), is an increase of 34%. Power systems revenue grew from 19%. X systems revenue grew from 13%. Revenue from storage systems increased 10% from the retail store solutions revenue grew 18%. From Microelectronics OEM business revenue grew 23%.
Financial sector
Global financial sector revenue fell 4% (constant exchange rates in accordance with the adjusted down 6%), to 516 million. Profit before tax up 22% to 5.19 billion U.S. dollars.
The first quarter of 2011, the company’s total gross profit margin was 44.1%, the first quarter of 2010 was 43.6%. The total non-GAAP gross profit margin was 44.5%, the first quarter of 2011 was 43.7%.
Total expenditures and other income increased by 9%, to 70 billion dollars. General and administrative expenses were 5.8 billion, an increase of 3%. R & D and capital expenditure of 16 billion U.S. dollars, an increase of 5%. Intellectual property and custom development revenues of 262 million, compared with 2.61 billion U.S. dollars. Other (income) and expenditure of 2.02 billion U.S. dollars, 545 million dollars a year earlier. Interest expense was $ 93,000,000, compared to $ 82,000,000.
Non-GAAP operating expenses and other income rose 8% to 70 billion dollars. Non-GAAP general and administrative expenses to 57 billion U.S. dollars, an increase of 2%. Non-GAAP R & D and capital expenditure of 16 billion U.S. dollars, an increase of 4%.
Profit before tax up 9% to 3.8 billion. Pre-tax margin was 15.5%, an increase of 0.1 percentage points. Non-GAAP pre-tax profit rose 12% to 40 billion U.S. dollars. Pre-tax profit margin of 16.2%, an increase of 0.6 percentage points.
IBM’s effective tax rate was 25%, down 1 percentage point. Non-GAAP effective tax rate was 25%, down 0.8 percentage points.
Net profit margin increased 0.3 percentage points to 11.6%. Non-GAAP net profit margin rose 0.6 percentage points to 12.1%.
Including the global financial sector debt, including 303 billion U.S. dollars, end of 2010 was 286 million. From a management point of view, global financial-sector debt totaled 23.7 billion U.S. dollars, assets and liabilities was 7:1. Non-global financial sector debt amounted to 6.5 billion, compared to the end of 2010 increased 712 million, asset-liability ratio increased from 22.6% to 25.1%.
As end of the quarter, IBM in the hands of cash and cash from the free cash flow amounted to 13.2 billion, down about 6 billion U.S. dollars. The company through dividends $ 800,000,000 and spent 40 billion to repurchase stock, the stock returns 4.8 billion.