IBM 2006 Annual Report Download - page 26
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Revenue Excluding Divested Personal Computing Business
(Dollars in millions)
YR. TO YR.
PERCENT
YR. TO YR. CHANGE
PERCENT CONSTANT
FOR THE YEAR ENDED DECEMBER 31: 2006 2005 CHANGE CURRENCY
Statement of Earnings Revenue Presentation:
Global Services $, $, .% .%
Hardware , , . .
Software , , . .
Global Financing , , (.) (.)
Other (.) (.)
Total $, $, .% .%
(Dollars in millions)
YR. TO YR.
PERCENT
YR. TO YR. CHANGE
PERCENT CONSTANT
FOR THE YEAR ENDED DECEMBER 31: 2006 2005* CHANGE CURRENCY
Industry Sector:
Financial Services $, $, .% .%
Public , , (.) (.)
Industrial , , . .
Distribution , , . .
Communications , , . .
Small & Medium Business , , . .
OEM , , . .
Other , , . .
Total $, $, .% .%
* Reclassified to conform with 2006 presentation.
(Dollars in millions)
YR. TO YR.
PERCENT
YR. TO YR. CHANGE
PERCENT CONSTANT
FOR THE YEAR ENDED DECEMBER 31: 2006 2005 CHANGE CURRENCY
Geographies:
Americas $, $, .% .%
Europe/Middle East/Africa , , . .
Asia Pacific , , (.) .
OEM , , . .
Total $, $, .% .%
MANAGEMENT DISCUSSION
INTERNATIONAL BUSINESS MACHINES CORPORATION AND SUBSIDIARY COMPANIES
24 2006 Annual Report
Total revenue, excluding the divested Personal Computing business,
increased 3.6 percent (3.2 percent adjusted for currency) versus 2005.
Revenue across all industry sectors increased in 2006 when com-
pared to 2005, except for the Public sector. Financial Services sector
revenue increased 5.3 percent driven by Banking (8.5 percent). Public
sector revenue decreased 1.5 percent driven by a 15.0 percent decline
in the Education industry. Industrial sector revenue increased 0.6
percent driven by Chemical and Petroleum (16.3 percent), partially
offset by decreased revenue from Automotive (4.2 percent). Distribution
sector revenue increased 2.3 percent driven by Consumer Products (8.0
percent) and Retail (3.2 percent) industries, partially offset by decreased
revenue in Travel and Transportation (3.2 percent). Communications
sector revenue increased 2.5 percent on the strength of increased
Utilities revenue (11.7 percent). Small and Medium Business increased
6.0 percent in 2006 versus 2005 with growth in all geographic markets
and enabled by growth in the company’s ibm.com channel.
The following geographic, regional and country-specific revenue
performance and the table above excludes OEM revenue, which is
presented separately.
Adjusted for currency, revenue increased in all geographic markets
in 2006 when compared with 2005, with the strongest growth coming
from the Americas.
Americas’ revenue grew 4.7 percent as reported (4 percent
adjusted for currency), with growth in all regions. From a product
Black
MAC
2718 CG10