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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) April 18, 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 April 18, 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: Paula L. Summa
Date: April 18, 2000 Title: Vice President,
Finance, and Chief Financial
Officer and Director
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Contact:
Carol J. Blaszczynski
IBM Credit Corporation
914-765-6647
[email protected]
IBM CREDIT CORPORATION REPORTS 2000 FIRST-QUARTER RESULTS
NORTH CASTLE, New York, April 18, 2000 . . . IBM Credit
Corporation today reported first-quarter 2000 net earnings of
$96.7 million, an increase of 6 percent, compared with $91.3
million for the same 1999 period. The return on average equity
was 16.9 percent, compared with 18.3 percent in the first
quarter of 1999.
In the first quarter of 2000, new customer financing
originations* for acquisition of information technology products
and services decreased 23 percent to $1.0 billion, compared with
$1.3 billion in the first quarter of 1999. New commercial
financing originations, providing working capital for inventory
and accounts receivable financing, decreased by 15 percent to
$2.8 billion in the first quarter of 2000, compared with $3.3
billion for the same 1999 period.
At March 31, 2000, total assets were $14.9 billion, compared
with $16.3 billion at December 31, 1999, a decrease of 9 percent.
Retained earnings at March 31, 2000, were $1.9 billion, compared
with $1.8 billion at December 31, 1999, an increase of 6 percent.
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IBM Credit Corporation in the United States is part of
the worldwide IBM Global Financing organization. With more than
$40 billion in new financing originations in 1999, IBM Global
Financing offers businesses of all sizes leasing and financing
solutions for IBM and non-IBM hardware, software and services.
Serving customers in more than 40 countries, IBM Global Financing
provides a broad array of asset management services. In
addition, IBM Global Financing provides flexible commercial
financing offerings for inventory, accounts receivable and
acquisition financing to resellers and remarketers. Visit the
IBM Global Financing home page 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.
