<PAGE> 1
UNITED
STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C.
20549
FORM
8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported)
January 19, 2000
IBM CREDIT CORPORATION
_________________________________________________
(Exact Name of Registrant as Specified in
Charter)
Delaware 1-8175
22-2351962
____________________________ _____________
_____________________
(State or Other Jurisdiction (Commission (IRS
Employer
of Incorporation) File Number)
Identification No.)
North Castle Drive, MS NCA-306
Armonk, New York
10504-1785
__________________________________________
___________
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code (914)765-1900
Not Applicable
_____________________________________________________________
(Former Name or Former Address, if changed Since
Last Report)
Item 5. Other Events
The Registrant's press release dated January 19, 2000, regarding
its financial results and selected balance sheet information as
of and for the fiscal year ended December 31, 1999, is attached.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duty authorized.
IBM CREDIT
CORPORATION
(Registrant)
By:
______________________________
Name: John V.
Palermo, Jr.
Date: January 19, 2000 Title:
Controller and Treasurer
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Contact:
Carol J. Blaszczynski
IBM Global Financing
914- 765-6647 or
[email protected]
FOR RELEASE: JANUARY 19, 2000 6:30 PM
IBM CREDIT CORPORATION ANNOUNCES 1999 FINANCIAL RESULTS
NORTH CASTLE, NY, January 19, 2000 ... IBM Credit Corporation
today reported 1999 net earnings of $429.6 million, an increase
of 39 percent compared with $308.8 million in 1998.
New customer financing originations* for acquisition of
information technology products and services declined 6 percent
to $6.8 billion in 1999, compared with $7.2 billion in 1998. New
commercial financing originations, providing working capital for
inventory, accounts receivable and acquisition financing
increased 2 percent to $14.5 billion in 1999, compared with $14.2
billion for the same 1998 period.
At December 31, 1999, total assets were $16.3 billion,
compared with $16.4 billion at December 31, 1998, a decrease of 1
percent. Retained earnings at December 31, 1999 were $1.8
billion compared with $1.4 billion at December 31, 1998, an
increase of 29 percent. The return on average equity was 21.4
percent in 1999, compared with 17.2 percent in 1998.
In the fourth quarter of 1999, net earnings were $133.6
million, an increase of 64 percent from 1998's $81.5 million.
Customer financing originations* in the fourth quarter of 1999
were $2.0 billion, a decrease of 26 percent compared with the
same 1998 period. For the fourth quarter of 1999, commercial
financing originations were $3.9 billion, a 7 percent decrease
compared with the same 1998 period.
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IBM Credit Corporation in the United States is part of the
worldwide IBM Global Financing organization. Serving customers
in more than 40 countries, IBM Global Financing offers businesses
of all sizes leasing and financing solutions for hardware,
software and services acquired from IBM and other vendors. With
more than $40 billion in annual financing originations, IBM
Global Financing also provides flexible commercial financing for
inventory, accounts receivable and acquisitions. Visit the IBM
Global Financing homepage at www.ibm.com/financing.
Forward-Looking and Cautionary Statements
Except for the historical information and discussions
contained herein, statements contained in this release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks, uncertainties and other
factors that could cause actual results to differ materially, as
discussed in the company's filings with the Securities and
Exchange Commission.
*New customer financing originations reflect assets either owned
or managed by IBM Credit Corporation
Contact:
Carol J. Blaszczynski
IBM Global Financing
914- 765-6647 or
[email protected]
FOR RELEASE: JANUARY 19, 2000 6:30 PM
IBM CREDIT CORPORATION ANNOUNCES 1999 FINANCIAL RESULTS
NORTH CASTLE, NY, January 19, 2000 ... IBM Credit Corporation
today reported 1999 net earnings of $429.6 million, an increase
of 39 percent compared with $308.8 million in 1998.
New customer financing originations* for acquisition of
information technology products and services declined 6 percent
to $6.8 billion in 1999, compared with $7.2 billion in 1998. New
commercial financing originations, providing working capital for
inventory, accounts receivable and acquisition financing
increased 2 percent to $14.5 billion in 1999, compared with $14.2
billion for the same 1998 period.
At December 31, 1999, total assets were $16.3 billion,
compared with $16.4 billion at December 31, 1998, a decrease of 1
percent. Retained earnings at December 31, 1999 were $1.8
billion compared with $1.4 billion at December 31, 1998, an
increase of 29 percent. The return on average equity was 21.4
percent in 1999, compared with 17.2 percent in 1998.
In the fourth quarter of 1999, net earnings were $133.6
million, an increase of 64 percent from 1998's $81.5 million.
Customer financing originations* in the fourth quarter of 1999
were $2.0 billion, a decrease of 26 percent compared with the
same 1998 period. For the fourth quarter of 1999, commercial
financing originations were $3.9 billion, a 7 percent decrease
compared with the same 1998 period.
IBM Credit Corporation in the United States is part of the
worldwide IBM Global Financing organization. Serving customers
in more than 40 countries, IBM Global Financing offers businesses
of all sizes leasing and financing solutions for hardware,
software and services acquired from IBM and other vendors. With
more than $40 billion in annual financing originations, IBM
Global Financing also provides flexible commercial financing for
inventory, accounts receivable and acquisitions. Visit the IBM
Global Financing homepage at www.ibm.com/financing.
Forward-Looking and Cautionary Statements
Except for the historical information and discussions
contained herein, statements contained in this release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks, uncertainties and other
factors that could cause actual results to differ materially, as
discussed in the company's filings with the Securities and
Exchange Commission.
*New customer financing originations reflect assets either owned
or managed by IBM Credit Corporation
