IBM income jumps 13% in 2011

Information technology giant IBM said Thursday that its net income jumped 13 percent in 2011 on a seven percent rise in revenues, driven by surging business in dynamic emerging economies. The company said it was the ninth straight year of a double-digit rises in net income, which hit $15.9 billion on revenues of $106.9 billion. Fourth quarter net earnings rose more slowly, up four percent to $5.5 billion on a two percent rise in revenues. "We had a strong fourth-quarter performance, capping a year of record earnings per share, revenue, profit and free cash flow," said IBM president and chief executive Ginni Rometty. "We delivered outstanding results in all four of our strategic initiatives for the quarter and the year, as we continued to realize the benefit of our long-term investments in growth markets, business analytics, Smarter Planet solutions and cloud. "We are well on track toward our long-term roadmap for operating earnings per share of at least $20 in 2015." The company said revenues in the BRIC countries -- Brazil, Russia, India and China -- increased 10 percent, while just three percent in the Americas and one percent in its combine Europe-Middle East-Africa division. For the year company earnings per share rose 11 percent to $4.62.