会员注册 | 登录 | 微信快捷登录 支付宝快捷登录 QQ登录 微博登录 | 帮助中心 人人文库renrendoc.com美如初恋!
站内搜索 百度文库

热门搜索: 直缝焊接机 矿井提升机 循环球式转向器图纸 机器人手爪发展史 管道机器人dwg 动平衡试验台设计

IBM公司2010年度财务报告(英文版).pdfIBM公司2010年度财务报告(英文版).pdf -- 3 元

宽屏显示 收藏 分享

资源预览需要最新版本的Flash Player支持。
您尚未安装或版本过低,建议您

AnnualReport2010OnJune16,2011,IBMmarksitscentennial.Aswereflectonourfirstcentury,ithassparkednewthinkingaboutthepossibilitiesforoursecond.JoinusatIBM100.comDearIBMInvestorIampleasedtoreportthatIBMhadanotherstrongyearin2010.Yourcompanycontinuedtooutperformourindustryandthemarketatlarge.Weonceagainachievedrecordprenullanullearningsnullrecordearningspersharenullrecordfreecashnullnullandimprovedpronullmarginsnullnullthincreasedrevenues.Atthesametimenullnullecontinuedtodeliversuperiorreturnstoyounullouronullers.Mostimportantlynullnullearenullellpositionedtogronullastheglonullleconomyrecovers.nullheseresultsnulleremadepossinullenulldecisionsandactionsthatnulleundertookadecadeagonullnullsedonnullerenullenulllievedthenullorldnullasshifting.ButevenmorenulltheyarearenullectionofthemindsetnullamnulltionsandvaluesthathaveguidedIBMsinceitsinceptionnull100yearsago.Assuchnullourperformancein2010marksanulltingconclusiontoournullstcenturyasacorporationnullandapromisingstarttooursecond.InthisletternullInullllenullplainnullythelongnullermthinkingandmanagementthatIBMhaspracticedoverthepastdecadehavepositionedyourcompanyadvantageouslyforthenenullnulleyearsandnullyond.ALetterfromtheChairman1IBMtodayIBMsperformancein2010isindicativebothofourhighvaluemarketpositionandofthedisciplineweapplytoourstrategyandoperations.Since2002,wehaveadded14billiontoIBMspretaxprofitbase,increasedourpretaxincome3.4times,ourearningspershare4.7timesandourfreecashflow2.8times.Cumulatively,wehavegeneratedabout96billionoffreecashflow.Ourstrong2010continuedthisrecordofsuperiorperformanceRevenueandincomeOurrevenuewas99.9billion,up4percent.In2010wegrewpretaxincomeby9percent,to19.7billion,ourhighestever.MarginsIBMsgrossprofitmarginrosefortheseventhconsecutiveyearto46.1percent,up9.4pointssince2002.Ourpretaxincomemarginroseto19.7percent.Bothmarginsareattheirhighestinmorethanadecade.Weachievedthisbydrivingproductivityandcontinuingtoshiftourbusinessmixtomoreprofitablesegments.Onceagain,morethan90percentofoursegmentprofitin2010wasfromsoftware,servicesandfinancing.EarningspershareWehavecontinuedtoachievestrongEPSgrowth.Lastyearwasanotherrecord,withdilutedearningspershareof11.52,up15percent.ThismarkedeightstraightyearsofdoubledigitEPSgrowth.CashflowIBMhasconsistentlygeneratedstrongcashflow,akeyindicatorofrealbusinessperformance.In2010ourfreecashflow,excludingtheyeartoyearchangeinGlobalFinancingreceivables,was16.3billion,anincreaseof1.2billionfrom2009.IBMended2010with11.7billionofcashandmarketablesecurities.InvestmentandreturntoshareholdersOursuperiorcashflowhasenabledustoinvestinthebusinessandtogeneratesubstantialreturnstoinvestors.Our2010cashinvestmentwas6billionfor17acquisitions13oftheminkeyareasofsoftware.Afterinvesting6billioninRDand4billioninnetcapitalexpenditures,wewereabletoreturnmorethan18billiontoyou15.4billionthroughsharerepurchasesand3.2billionthroughdividends.Lastyearsdividendincreasewas18percent,markingthe15thyearinarowinwhichwehaveraisedourdividend.Overthepastdecade,wehavereturned107billiontoyouintheformofdividendsandsharerepurchases,whileinvesting70billionincapitalexpendituresandacquisitions,andalmost60billioninRD.LeadingourindustryandthemarketWehavebeenabletoachievetheseresultsbecauseofthetransformationofourcompanythatwebeganseveralyearsago.Atthetime,wesawanundercurrentoffundamentalchange.2SamuelJ.PalmisanoChairman,PresidentandChiefExecutiveOfficerALetterfromtheChairman31.ChangesintheworldTheloweringoftradebarriers,theriseofthedevelopingworldandtheemergenceoftheWorldWideWebwereunleashingtheflowofworkonaglobalscale.Webelievedthesechangeswerepowerfulandirreversible,andthattheywouldleadtonewhighgrowthmarketopportunitiesandanewformofthecorporationitselfwhatwecametocallthegloballyintegratedenterprise.2.ChangesintechnologyAtthesametime,anewmodelofcomputingwasreplacingthePCbased,client/serverapproach.Computationalcapabilitywasbeingputintothingsnoonewouldrecognizeascomputersphones,cameras,cars,appliances,roadways,powerlines,clothesandevennaturalsystems,suchasagricultureandrivers.Allofthesewerebeingconnected.Andwehaddevelopedthecomputingpowerandadvancedanalyticstoturnmountainsofdataintoinsight.Asaresult,theeconomic,societalandphysicalsystemsoftheworldwerebecominginstrumented,interconnectedandintelligent.Ourplanetwasbecomingsmarter.3.ChangesinclientdemandDrivenbythenewopportunitiesandcompetitivedemandsofthesefirsttwoshifts,enterprisesandinstitutionswerenolongercontentwithofftheshelftechnology.Theynowsoughttoinnovatenotjustintheirproductsandservices,butalsotheirbusinessprocesses,managementsystems,policiesandcorebusinessmodels.Toaccomplishthat,theyneededtofocusonthebusinessoutcomesthatresultedfromtechnologicalinnovation.Nowthatwehaveshownwecandeliverresultswithconsistency,wearedoingitagainthroughtheintroductionlastyearofour2015RoadMap.Becausewebelievedthattheseshiftswouldchangeourindustry,creatingwinnersandlosers,wetransformedIBMsmixofproducts,services,skillsandtechnologiesexitingcommoditizingbusinesseslikePCsandharddiskdrives,andmaking116strategicacquisitionsoverthecourseofthedecade,largelyinsoftwareandservices.Weamassedsubstantialcrossindustryexpertise,andreinventedthewaywedeployit,shiftingskillsanddecisionmakingclosertothemarketplaceandtheclient.Weinvestedsignificantlymoreinourteamsandcapabilitiesinthedevelopingworld,andweacceleratedtheglobalintegrationofIBMsoperations.WealsoworkedtorebalanceourinternalRD.Ofthe5,896U.S.patentsIBMreceivedin2010onceagainarecordforanycompany,andour18thstraightyearofpatentleadership,morethan70percentwereforsoftwareandservices.4AroadmaptothefutureIBMtodayisafundamentallydifferentcompany.Inordertomakethatcleartoourinvestorsandtothefinancialmarkets,wedecidedfouryearsagotointroduceour2010RoadMap.Wewantedtoexplainwhereweweregoingandtoprovidebenchmarksforyoutoevaluateusalongtheway.Webelievedandstillbelievethatthislongertermframeworkisthemosthelpfulwaytounderstandourcompany.Tosome,itseemedfoolhardy.Tomyknowledgenocompanyinourindustryhaddonethisbefore.ButwefeltIBMshouldtakealongtermview,inpublicaswellasinprivate.Andwefeltconfidentaboutthefuture,becauseofthetransformationalstepswehadtakentorepositionthecompany.Clearly,thisworked.Asyouknow,wesurpassedour2010goalof10to11inearningspershare.Andnowthatwehaveshownwecandeliverresultswithconsistency,wearedoingitagainthroughtheintroductionlastyearofour2015RoadMap.Asbefore,ournewroadmapisntjustalistoftargetsitsamanagementmodel,organizedaroundthemajordriversofIBMsearningspershareperformance.Thoseareoperatingleverage,sharerepurchaseandgrowthstrategies.Operatingleveragewillcomefromourcontinuingshifttohighermarginbusinessesandourimprovingenterpriseproductivity.Weareaimingfor8billionofproductivityimprovementoverthenextfiveyears.Partofthatwillgotoourbottomline,andpartwillgotoinvestmentsthatimproveourcompetitivenessinthemarketplace.Secondly,wewillcontinuereturningvaluetoyou.Ourroadmapcallsfor50billioninanticipatedsharerepurchasesand20billionindividends.Whenitcomestothethirdcomponentofourroadmap,wewillfocusonfourgrowthpriorities1.GrowthMarkets.Ahistoriceconomicexpansionisunderwayintheemergingmarketsoftheworldastheirpopulationsjointhemiddleclassandtheireconomiesjointheglobalmarketplace.ThesemarketsareexpectedtoachieveaverageGDPgrowthof5percentthrough2015,morethandoubletheprojectedgrowthrateofthedevelopedworld.Inthelargestoftheseemergingmarkets,suchasChina,IndiaandBrazil,IBMisbroadeningitswellestablishedbaseofskillsandcapabilities,nearlydoublingournumberofbranchlocations.Inlessdevelopedmarkets,suchasAfrica,weareleveraginganchorclientsinsectorslikecommunicationsandbanking.OurrecentpartnershipwithBhartiAirteltoprovide21stcenturywirelesstelecommunicationsacross16countriesofSubSaharanAfricaisoneexample.OurGrowthMarketsUnitaccountedfor21percentofIBMsgeographicrevenuein2010.Weareaimingtoapproach30percentby2015.ALetterfromtheChairman52.BusinessAnalyticsandOptimization.TheresearchfirmIDCpredictsthatglobaldatavolumeswillincreaseby29timesoverthenext10yearsto35zettabytes.Azettabyteisa1followedby21zeros.Enterprisesneedawaytomanageandminethisdelugeofpotentiallyvaluableinformation,andthekeyisadvanceddataanalytics.IBMspottedthisemergingneedearly,buildingtheworldsleadinganalyticspractice,with7,800expertconsultants,theworldspremiernonacademicmathematicsfunction,leadingedgesoftwareandofferingsintegratedbyindustry.Wehavereceivedmorethan500analyticspatentsandhavemadeacquisitionstodeepenourcapabilities.Underour2015RoadMap,analyticsisexpectedtogrowto16billioninrevenueby2015.3.CloudandSmarterComputing.Astheworldbecomesmoreinstrumentedandinterconnected,businessesandinstitutionsneedsmarterITinfrastructurestohandledramaticincreasesindatavolumes,andtoimprovedatacenterefficiency.WearecreatingnewwaystodesigncomputersystemsoptimizedforspecificworkloadsandnewwaystodeliverITinfusedservices.IBMhashelpedthousandsofclientsadoptaspectsofclouddelivery,whereITresourcesarevirtualized,highlyautomatedandaccessedbyselfservice.Weareassistingclientsinareasasdiverseasbanking,healthcareandgovernmenttobuildtheirowncloudsortotapsecurelyintoIBMcloudbasedbusinessandinfrastructureservices.Ourroadmapcallsfor7billioninrevenuefromcloudby2015.4.SmarterPlanet.Putitalltogether,andyouhavewhatwemeanbybuildingasmarterplanet.In2008and2009,wearticulatedapointofviewonwaystheworldcanbecomesmarter,andin2010,wedeployedsignificantresourcestocapturetheopportunityinkey,highgrowthindustriessuchashealthcare,retail,bankingandtelecommunicationswhereourexperienceandsolutiondeliveryisstrongest.WealsoexpandedourSmarterCitiesinitiative.OurroadmapcallsforSmarterPlanetsolutionstogrowto10billioninrevenueby2015.Bybecomingaverydifferentcompanyfromwhatwewerejustafewyearsago,wehavebecomemuchmorelikethecompanyIBMhasbeenformostofitshistory.Insum,oursuperiorstrategicpositioning,strongbalancesheet,solidrecurringrevenue,robustprofitstreamsandunmatchedglobalreachgiveusconfidencethatwewillbeabletocontinueachievingthesamekindsofresultsinthenextfiveyearsthatwehaveachievedduringthepastdecade.6Overthelast10years,wehavenearlytripledourEPS,added109billioninfreecashflow,returned107billiontoyou,tripledoursoftwareprofitsandincreasedtheshareofourrevenuefromgrowthmarketsfrom11to21percent,excludingdivestedPCsandprinters.Overthenextfiveyears,weexpecttogrowouroperatingnonGAAPearningstoatleast20pershare,togenerateanother100billioninfreecashflow,toreturnanadditional70billiontoyou,togrowoursoftwareprofittoabouthalfoftotalsegmentprofitandtoincreasegrowthmarketscontributiontoourrevenuetonearly30percent.Theinformationonpages9to15GeneratingHigherValueatIBMsummarizesourroadmaps,placestheminthecontextofIBMs100yearsofgrowth,anddescribesouropportunitiesinthecomingera.AnenullcenturyofprogressLetmeclosewithafewwordsonreachingtheextraordinarymilestoneof100years,whichwewillmarkonJune16ofthisyear.Throughoutthistime,spanningmanyerasoftechnology,markets,globaleconomics,politicsandcultureandacrossmultiplemanagements,strategies,innovations,productsandserviceswithinIBMitselfourcompanyhasconsistentlydonethreethingsFirst,wehaveforeseentheopportunitiesofourtimes,andmademarketsinthem.Thesehaveincludedtheautomationofmodernretail,bankingandairtravelthecreationofpopulationscalesystemssuchasU.S.SocialSecurityandthefartherreachesofscientificprogress,fromtheexplorationofspacetothefrontiersofgenomics,bioinformaticsandnanotechnology.Today,itencompassestheevenbroaderrangeofworkwedescribeasbuildingasmarterplanetoptimizingtheenormouslycomplexsystemsthatenableservicestobedeliveredphysicalgoodstobedeveloped,manufactured,boughtandsoldeverythingfrompeopleandmoneytooil,waterandelectronstomoveandbillionsofpeopletoworkandlive.Second,wehavecreatedthetoolstodothatambitiousworkandtocaptureitseconomicopportunity.IntheearlydecadesofIBMslife,thisinvolvedclocks,scalesandpunchedcardtabulators.Itchangedfundamentallywiththedawnofthecomputerage,asIBMcreatedmanyofitstechnologicalbreakthroughs,fromtherelationaldatabasetothediskdrive,DRAM,FORTRAN,themainframe,thePCandmuchmore.WebuilttheworldsmostproductiveindustriallaboratoryhometofiveNobelPrizewinnersandgeneratorofmoreU.S.patentsthananyothercompanyintheworld.Anditcontinuestoday,withbreakthroughssuchasWatson,thecomputerthatrecentlydefeatedthetwoalltimechampionsonthetelevisionquizshow,JeopardyWatsonsvastanalyticcapacityrepresentsanewstageincomputingsabilitytotackletheworldsmostpressingneedswhereandwhentheyreallyemergeinthenaturallanguageofhealthcare,banking,government,retailandmore.ALetterfromtheChairman7
编号:201312150001528353    大小:8.37MB    格式:PDF    上传时间:2013-12-15
  【编辑】
3
关 键 词:
IS 电气 高压 110kv 220kv 550kv 800kv
温馨提示:
1: 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
2: 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
3.本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
5. 人人文库网仅提供交流平台,并不能对任何下载内容负责。
6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
  人人文库网所有资源均是用户自行上传分享,仅供网友学习交流,未经上传用户书面授权,请勿作他用。
0条评论

还可以输入200字符

暂无评论,赶快抢占沙发吧。

当前资源信息

4.0
 
(2人评价)
浏览:26次
baixue100上传于2013-12-15

官方联系方式

客服手机:13961746681   
2:不支持迅雷下载,请使用浏览器下载   
3:不支持QQ浏览器下载,请用其他浏览器   
4:下载后的文档和图纸-无水印   
5:文档经过压缩,下载后原文更清晰   

相关资源

相关资源

相关搜索

IS   电气   高压   110kv   220kv   550kv   800kv  
关于我们 - 网站声明 - 网站地图 - 友情链接 - 网站客服客服 - 联系我们
copyright@ 2015-2017 人人文库网网站版权所有
苏ICP备12009002号-5