aSSEmBLERS
IBM has good Q1
% month Mkt cap
Price (4)
10.03.08 - 10.04.08
change 4
P/E ratio
m
IBm increased first - quarter income from continuing operations to $2.3bn
Gericom 0.75 18 8 -
(€1.48bn) compared with $1.8bn (€1.16bn) in the first quarter of 2007, an
increase of 26%. Total revenues for the first quarter of 2008 of $24.5bn (€15.74)
Cibox 0.26 24 26 - increased 11% (4%, adjusting for currency) from the first quarter of 2007. “IBM
had a very good quarter, and a good start to 2008. These results reinforce our
Lintec 0.07 -85 0 -
confidence in IBM’s ability to perform well in a dynamic global economy. Our
Maxdata 1.85 3 54 -
performance is a tribute to the way we have repositioned our company over
the past several years, as well as the hard work of IBMers across the globe,”
Medion 9.90 -11 177 12 said Samuel J. Palmisano, IBM chairman, president and chief executive officer.
“We feel good about the rest of the year.”
Transtec 3.40 8 13 -
Olidata 0.85 12 29 -
Revenues from Europe/Middle East/Africa were $8.8bn (€5.65bn), up 16%
(4%, adjusting for currency). Global Technology Services segment revenues
Optimus 0.78 27 124 - increased 17% (9%, adjusting for currency) to $9.7bn (€6.23bn). Global Business
Services segment revenues increased 17% (9%, adjusting for currency) to $4.9bn
RM (£) 2.51 -3 233 14
(€3.15bn). Revenues from the Systems and Technology segment totaled $4.2bn
(€2.7bn) for the quarter, down 7% (12%, adjusting for currency). Revenues
decreased 2% excluding the year-to-year impact of the Printing System
DISTRIBUTORS % month Mkt cap
Price (4) /E ratio
Division divestiture in June 2007. Revenues from the Software segment were
10.03.08 - 10.04.08
change 4
P
m
$4.8bn (€3.08bn), an increase of 14% (6%, adjusting for currency) compared with
the first quarter of 2007. Revenues from IBM’s middleware products, which
Groupe Open 11.15 6 121 30
primarily include WebSphere, Information Management, Tivoli, Lotus and
Computerlinks 12.18 8 82 8
Rational products, were $3.8bn (€2.44bn), up 16% on the first quarter of 2007.
MuM 5.16 6 67 16
Analysts highlighted a number of underlying risks to the IBM story, including
Esprinet 6.72 -3 352 11
30% exposure to the financial services segment and a relatively flat services
backlog for four quarters and bookings that have not grown in a year (rolling
IT Way 5.79 -4 26 28
four quarters), pointing out that the 1Q 08 renewed strength at IBM in the U.S.
Datatec 2.28 -1 286 10
and in financials may not be sustainable.
Scribona 0.48 5 38 -
Although Bell micro managed to push overall Q1 revenues up a couple of
percentage points from $1.01bn (€0.65bn) to $1.02bn (€0.66bn), European
ALSO 35.77 -2 216 24
revenues (which accounts for 42% of overall business) took a 3% year-on-year
COS 8.02 -10 15 29 tumble. There’s been a number of changes at the company over the past six
months, with VP Europe Jens Hartmann being removed a few weeks ago, and
Arena 0.07 11 52 -
these results will not help sentiment. The European Solutions product category
declined 1% with strong storage systems growth offset by lower software sales.
The components and peripherals category declined by 6% due to lower year-
DCC Group (£) 14.41 -5 1162 9
over-year disk drive and other components sales, claims Bell Micro. Meanwhile,
Fayrewood (£) 1.46 2 34 11
Latin America revenues increased 16% year-over-year and North American
revenues grew 3% over the same period.
Horizon Group (£) 1.15 31 95 12
Northamber (£) 0.53 -7 16 15
“We generated modest year-over-year revenue growth in the first quarter
despite the economy and slower technology spending. In this softer
environment, we believe that we maintained our market share in key product
Anixter 36.62 -10 1301 10
categories. We are pleased with our North American enterprise revenue in the
quarter, although some of the revenue resulted from winning larger enterprise
Arrow
projects which carried lower gross margins,” says CEO Don Bell.
Avnet 17.00 -21 2556 9
“In Europe, our revenue decreased slightly in both US dollars and local
Bell Micro 1.24 -3 40 -
currency, primarily from our commercial accounts in the UK and on the
continent. As a result of lower than expected sales in certain product
Ingram Micro 10.55 3 1843 11
categories, we anticipate reporting a sequential decline in gross margins in
Tech Data 21.66 4 1144 17 the first quarter in part due to a decrease in supplier incentives. Although
the economic environment may be challenging in the coming months, our
focus remains on solid execution in our business and profitability through the
balance of 2008.”
S
ource: Thomson Financial Datastream
26 02 may 2008
It0808 - 26-31_financials.indd 26 30/04/2008 11:45:57
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32