IBM Reports 2006 First-Quarter Results

ARMONK, N.Y., April 18, 2006 . . . IBM today announced first-quarter 2006 diluted earnings per common share of $1.08 from continuing operations, compared with diluted earnings of $.85 per share in the first quarter of 2005, an increase of 27 percent. First-quarter income from continuing operations was $1.7 billion compared with $1.4 billion in the first quarter of 2005, an increase of 21 percent. Total revenues for the first quarter of 2006 of $20.7 billion decreased 10 percent (7 percent, adjusting for currency) from the first quarter of 2005, which includes revenue from the divested PC business. Excluding the PC revenue, revenues were flat (up 4 percent, adjusting for currency) compared with the first quarter of 2005.