-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JebF9nPWhkDxI8rz12EQ0h0gZNO9UpWDfjMw2rptBdSqQi9dUITcGl2Apx3Wa4Ic OyN/NAXylibeCekfbbTJ8A== 0000353524-00-000002.txt : 20000202 0000353524-00-000002.hdr.sgml : 20000202 ACCESSION NUMBER: 0000353524-00-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991231 ITEM INFORMATION: FILED AS OF DATE: 20000120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IBM CREDIT CORP CENTRAL INDEX KEY: 0000353524 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 222351962 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08175 FILM NUMBER: 509999 BUSINESS ADDRESS: STREET 1: NORTH CASTLE DR MS NCA-306 STREET 2: ROOM 3C2108 CITY: ARMONK STATE: NY ZIP: 10504-1785 BUSINESS PHONE: 9146423000 MAIL ADDRESS: STREET 1: NORTH CASTLE DR MS NCA-306 STREET 2: PO BOX 10399 CITY: ARMONK STATE: NY ZIP: 10504-1785 8-K 1 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 2 Contact: Carol J. Blaszczynski IBM Global Financing 914- 765-6647 or blaszcar@us.ibm.com 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. 3 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 blaszcar@us.ibm.com 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 -----END PRIVACY-ENHANCED MESSAGE-----