CORPORATION (OTCMKTS:CCYPQ) Files An 8-K Regulation FD Disclosure

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CORPORATION (OTCMKTS:CCYPQ) Files An 8-K Regulation FD Disclosure

CORPORATION (OTCMKTS:CCYPQ) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.

Exhibit99.1 of this Form8-K contains the prepared remarks for IBM’s Chief Financial Officer Jim Kavanaugh’s third-quarter 2018 earnings presentation to investors on October16, 2018.

Reconciliations of non-GAAP financial measures discussed in the earnings presentation to the most directly comparable financial measures calculated and presented in accordance with GAAP are included as Exhibit99.2 of this Form8-K. The slides used in Mr.Kavanaugh’s third-quarter 2018 earnings presentation are Exhibit99.3 to the company’s Form8-K submitted to the SEC on October16, 2018.

The information in this Item 7.01, including the corresponding Exhibits 99.1 and 99.2, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 (the “Exchange Act”), with the exception of the following information from the question and answer period of the earnings presentation, which has been edited to provide additional context and clarity, and shall be deemed “filed” under the Exchange Act:

· At mid-Octoberspot rates, the company expects a 0 to 1 point currency benefit to full-year 2018 revenue growth, including a 2 point currency headwind in the fourth quarter.

· At mid-Octoberspot rates, the company continues to expect full-year revenue growth.

· The company expects average seasonality (of the last 3 to 5 years) for revenue performance from the third quarter to fourth quarter.

· The company expects modest growth in total software revenue at constant currency in the fourth quarter.

· With enterprise productivity, the company expects pre-tax margin expansion in the fourth quarter.

· In services, with respect to signings, the company has a strong pipeline of deals greater than $100 million lined up in the fourth quarter.

· Free cash flow realization, which is defined as free cash flow to income from continuing operations (GAAP), is expected to be over 50% for the year, driven by sales cycle working capital, pension and capital expenditures (net of depreciation/amortization), mitigated by income taxes.

Forward-Looking Statements

Certain statements contained in this Form8-K may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of factors that could cause actual results to differ materially. Additional information concerning these factors is contained in the Company’s filings with the U.S. Securities and Exchange Commission (SEC). Copies are available from the SEC or from the IBM web site (www.ibm.com).

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

The following exhibits are being furnished as part of this report:

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.


INTERNATIONAL BUSINESS MACHINES CORP Exhibit
EX-99.1 2 a18-36505_2ex99d1.htm EX-99.1 Exhibit 99.1   Introduction   Thank you.  This is Patricia Murphy,…
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