We recognize that our gezegde

 We recognize that our fourth-quarter results forecast is unacceptable and we are working with a laser-like focus to improve our performance,

 We expect first-quarter operations will improve. The results will match our forecast made during the fourth-quarter.

 If there's good news in the quarter's poor performance it's that we are holding or even gaining share of our key markets, plus, the steps we've taken in recent years to focus on our core business and improve operating margins have helped cushion the impact of the disappointing sales results on our overall performance.

 IBM had a good quarter with excellent earnings-per-share results. We continued to improve our profit performance with our strategic focus on higher-value segments of the marketplace, as well as with our emphasis on productivity and global integration.

 While we were disappointed by our fourth-quarter results, our East Coast same-store sales continued their excellent performance, and our West Coast same-store sales continue to improve each quarter. Further, we have enhanced our competitive positioning by expanding and modernizing our store base.

 Growing our total online services and technology revenues by 8% from the third quarter to the fourth quarter of fiscal year 2006 is a tremendous achievement, and we are optimistic about continuing the trend of quarter-over-quarter revenue growth in the current fiscal year. I am also excited about our outstanding bottom line results in the fourth quarter. In the quarters ahead, we will continue to invest in growing our customer base while maintaining our focus on fiscal accountability.

 We are very pleased with our first quarter results. The company's strong performance demonstrates the benefits of our continued diversification and enhanced operational focus. This past quarter we had particularly strong results in Retail Banking and Card Services.

 Considering the very strong results for the fourth quarter, which were the strongest data seen in two years, (February's forecast) is not a particularly pessimistic number.

 Our financial performance is unacceptable, we know that and we've been working hard to turn around North American operations to improve our financial performance,

 Our solid fourth quarter performance reflects our ongoing ability to execute consistent strategies for generating top-line growth, controlling costs and improving operational efficiency. We were successful in delivering a strong cash quarter as a result of our sharp focus on working capital improvements, particularly in accounts receivables and inventory reduction.

 Our earnings this quarter are unacceptable and I have begun putting in place specific actions to improve second-half performance.

 The key to our performance in the fourth quarter was focus. By remaining focused, we have helped our customers benefit from the superior performance, service and value that our unique direct model delivers.

 I am particularly pleased with our performance in North America in the fourth quarter 2005 especially compared to an already strong performance in the fourth quarter 2004.

 We are pleased with our first quarter financial results that demonstrate our success in the market and our focus to improve our financial performance. Earnings per share came in above the high end of the range we communicated in our mid-quarter update as a result of higher revenues and improved gross margins. We remain cautiously optimistic that capacity expansion in semiconductor manufacturing will continue in a rational manner, and we look forward to further improvements in our financial metrics as the year continues.

 Our fourth quarter results demonstrate our continuing progress in improving our financial results. Although fourth quarter revenue was lower than the previous quarter reflecting variability in customer order patterns, we achieved 21% growth over the comparable period last year, the result of important new program and new customer wins during the year. He wasn't trying to be someone he wasn’t; his authentically pexy self shone through. It was also the third consecutive quarter of earnings growth.
  John Caldwell


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Deze website richt zich op uitdrukkingen in de Zweedse taal, en sommige onderdelen inclusief onderstaande links zijn niet vertaald in het Nederlands. Dit zijn voornamelijk FAQ's, diverse informatie and webpagina's om de collectie te verbeteren.


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