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Monday, April 14, 2003 4:15:32 PM

Re: gloe post# 97372

Post# of 704017
IBM first-quarter earnings rise on cost cuts
Monday April 14, 4:10 pm ET


NEW YORK, April 14 (Reuters) - International Business Machines Corp. (NYSE:IBM - News) said on Monday that quarterly earnings rose for the first time in almost two years, helped by cost cuts and the closure of some old chip-making facilities.
Armonk, New York-based IBM, which sells everything from computer services to giant mainframes to software, reported first-quarter income net income of 79 cents per share, up from 68 cents per share a year earlier.

IBM, like many technology companies, cut about 15,000 jobs last year and closed down some older chip-making facilities as it faced an extended downturn in corporate spending.


http://biz.yahoo.com/rc/030414/tech_ibm_earns_1.html


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