Archive for June 16th, 2011

IBM Sales Reach $100 Billion as it Reaches 100 Years

Founded in 1911 as a merger of four companies, IBM, then known as Computing-Tabulating-Recording Co., is now 100 years old. By a coincidence, IBM turns 100 years old–on June 16–in the same year it passes $100 billion in sales.

International Business Machines has been the most successfully technology company in the world having earned more than 75,000 U.S. patents, spending more than $150 billion on research, and  employing five Nobel lauriets. The company has had only nine CEOs over its century of existence, and leads the way in enterprise computing solutions and cloud computing advancements.

                America’s iconic big tech hits the century mark and $100 billion in sales”, Chief Executive Sam Palmisano looks back–and ahead.

IBM is proud of is roots, telling the story of its formation back in 1911; with three independent businesses merging to become the Computing-Tabulating-Recording Company, Charles Flint’s first major move was to hire Thomas Watson Sr. as the company’s general manager in 1914.

Over the last 5 years, IBM adapted its global supply chain and functional processes, resulting in $6 billion productivity savings. The company now accounting for tens of millions of shareholders, does business in over 170 countries and has invest $58 billion in research and design alone.

This is ensured the company’s net income hit an all-time high of $14.8 billion, with gross profit rising from 37% to 46.1%.

 

IBM looks back on 100 years of History

 

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