IBM Net Income up 9%
By Shalini Singh

Another sign that the tech industry is well on the road to recovery.  Recently, Infosys and TCS posted better than expected results. 

Now, tech behemoth IBM had posted record net income.  For the full years of 2009, IBM recorded diluted earnings per share of $10.01, up 13 percent which is 7th consecutive year of double-digit EPS growth.  The record net income was $13.4 billion, up 9 percent. There was a record free cash flow of $15.1 billion, up $0.8 billion.

During the Fourth Quarter of 2009, there was a 9 percent increase in net income to $4.8 billion on revenues of $27.2 billion. During the last 3 months of 2009

- Services signings of $18.8 billion, up 9 percent;
- Global Services revenue up 2 percent, pre-tax income up 7 percent;
- Software revenue up 2 percent, pre-tax income up 10 percent;
- Systems and Technology revenue down 4 percent, pre-tax income up 15 percent;
- Growth markets revenue up 14 percent.