IBM收入下滑 受累于企业紧缩开支( IBM 2Q Net Up 12% On Higher Margins; Raises 2009 FY View)

　　国际商业机器公司（International Business Machines））第二季度利润增长12%，原因是该公司继续在运营方面下工夫，但销售额出现下滑，同时这家科技巨头的业绩没有显示出企业准备重新投入开支的迹象。

　　IBM同时还上调了全年利润预期，其利润增长得益于削减成本以及扩大业务范围，实现更多的软件销售，并纳入与其传统业务相去甚远的咨询业务合同，比如说帮助公用事业公司管理电网。IBM传统上是针对公司数据中心展开销售。

　　但位于纽约州阿蒙克的这家科技巨头短期咨询业务疲弱，硬件销售收入也较上年同期出现26%的下滑，这表明科技行业总体上仍面临严峻挑战。

　　各家公司仍然不愿意重新投入开支。

　　科技行业研究公司Gartner Inc.本月下调了2009年科技和电信开支预期。该公司目前预计，全球企业和消费者将在科技产品和服务上支出3.2万亿美元，较2008年的3.4万亿美元下滑6%，而明年可能也只能实现2.3%的增长。

　　由于IBM退出了个人电脑业务，目前专注于针对企业和政府部门的电脑服务及软硬件，因此该公司的情况好于其他一些科技厂商。IBM第二季度实现利润31亿美元，合每股收益2.32美元，上年同期利润为27.7亿美元，合每股收益1.97美元。当季收入下滑13%，从268.2亿美元降至232.5亿美元。

　　IBM收入下滑部分原因在于美元走强压低了海外销售业绩。IBM称，如果没有出现汇率波动，收入降幅会在7%.收入下滑绝大多数是在主机和其他电脑硬件销售方面。

　　美国产业研究机构Broadpoint.AmTech的分析师马歇尔（Brian Marshall）说，IBM的业绩显示出整体环境仍然充满挑战。他指出，IBM过去三个季度收入较上年同期下滑的幅度一直在加剧，但他认为收入下滑在6月份触底，随后将开始缓慢好转。

　　IBM首席财务长劳瑞奇（Mark Loughridge）在与分析师们进行的电话会议上说，下半年硬件销售的下滑幅度应当会缩小。他表示，最近签定了一大批外包合同，应当也会开始有利于收入，但他提醒说，短期咨询合约可能依然会面临压力。

　　分析师们说，IBM业绩好转反映出该公司已经改变了业务模式，从服务方面实现更高的利润率，同时通过庞大的销售团队出售利润率更高的软件产品。劳瑞奇说，IBM税前利润率上升了4.1个百分点，至18.3%.

　　IBM今年早些时候在美国裁员大约1万人，从而缩减了成本。但IBM管理人员表示，业绩的改善在很大程度上反映出更好的经营管理，充分利用价格昂贵的咨询业务，并将为某个项目开发的软件和程序重新用在别的项目上。

　　IBM根本的业务是帮助公司处理数据，目前IBM正远离这方面，转向帮助城市控制交通拥堵、帮助医院开发电子病历，以及帮助公共事业公司运营电网。

　　许多这类项目都可能吸引政府的刺激资金。IBM说，包括医疗、教育以及政府等领域的公共部门业务是本季度最强劲的。

　　IBM将全年收益预期提高到每股9.7美元，此前预期为每股9.2美元。IBM表示，长期外包合约增长了38%，预示未来几个季度还有增长的余地。

　　劳瑞奇说，IBM计划2010年每股收益达到至少10-11美元，现在这个计划已经提前了。

　　International Business Machines Corp.'s second-quarter profit rose 12% as the company continued to hone its operations， but sales fell and the technology giant offered few signs business are prepared to resume spending.

　　IBM， which also raised its profit outlook for the full year， is benefiting from cost-cutting and a shift to a richer business mix that includes more software sales and consulting contracts far removed from its traditional sales to corporate data centers —— such as helping utilities manage electrical grids.

　　But weakness in the Armonk， N.Y.， giant's short-term consulting business and a 26% decline in hardware revenue compared with a year ago indicate that the technology business overall still faces stiff challenges.

　　Companies are still reluctant to resume spending.

　　Tech researcher Gartner Inc. this month reduced its forecast for spending on technology and telecom in 2009. The firm now anticipates that businesses and consumers will spend $3.2 trillion on technology goods and services world-wide， a 6% decline from the $3.4 trillion spent in 2008， with only 2.3% improvement likely next year.

　　IBM is faring better than some other technology vendors because it exited the PC business and now focuses on computer services， software and hardware for businesses and governments. In the second quarter， IBM had a profit of $3.1 billion， or $2.32 a share， up from $2.77 billion， or $1.97 a share. Revenue fell 13% to $23.25 billion from $26.82 billion.

　　IBM's revenue decline was partly due to the strength of the dollar， which depresses results from overseas sales. IBM said revenue would have been down 7% without currency fluctuations. Most of the revenue decline was in sales of mainframes and other computer hardware.

　　Brian Marshall， an analyst with Broadpoint AmTech， said IBM's results 'highlight that it's still a challenging environment out there.' He noted that IBM's revenue decline from the prior year has widened in each of the last three quarters， but he said he thinks 'June represents the bottom and we'll start to slowly recover.'

　　During a conference call with analysts， Mark Loughridge， IBM's chief financial officer， said the decline in hardware sales should narrow in the second half. He said recent strong signings of outsourcing contracts should begin to benefit revenue as well， although he cautioned that short-term consulting contracts are likely to remain under pressure.

　　Analysts said IBM's earnings improvement reflects the way it has changed its business to get better margins from services and sell more high-margin software products through its huge sales force. Mr. Loughridge said the pretax profit margin for the company rose 4.1 points to 18.3%.

　　IBM cut costs earlier this year through layoffs of some 10，000 U.S. workers. But IBM officials said most of the improvement reflects better management to keep expensive consultants fully utilized and to reuse software and processes developed in one project on other ones.

　　IBM is moving far away from its roots in corporate data centers to help cities manage traffic congestion， help hospitals develop electronic heath-care records and help utilities manage electric grids.

　　Many such projects may attract government stimulus money. IBM said that its public-sector business， which includes health care and education as well as government， was its strongest in the quarter.

　　The company raised its earnings outlook for the full year to $9.70 a share， up from its previous forecast of $9.20 a share. It said new signings of long-term outsourcing contracts —— in which IBM takes over technology operations from companies —— rose 38%， indicating a reserve of business for growth in future quarters.

　　Mr. Loughridge said IBM is ahead of pace in its plan to report profit of at least $10 to $11 a share in 2010.

责任编辑：vivien