Thomas J. Watson founded International Business Machines (IBM) by merging three successful companies: The Tabifying Machine Company, The International Time Recording Company and The Computing Tabifying Recording Company (CTR). In 1914, Thomas Watson joined CTR as CEO and held that title for the next twenty years. CTR was listed on the NYSE in 1916. In 1924 it changed the company name to International Business Machines Corporation (IBM). The company had therefore already been an IPO. From the beginning, IBM defined itself as a research and development company, not just a product seller. IBM began designing and manufacturing calculators in the 1930s, using its own technology invented by Herman Hollerith, owner of the Tabulator Machine Company, the punch card processing equipment. In 1944, IBM together with Harvard University financed the invention of the “Mark 1” computer, the first machine capable of automatically performing long calculations. In 1953, IBM produced the first commercially successful universal computer, the “IBM 701 EDPM”. In 1981, they released the first IBM personal computer for home consumption that ran on a 4.77 MHz Intel 8088 microprocessor. Since then, the company has produced everything from mainframes to personal computers, developing software and hardware for Corporate IT. International Business Machines Corporation (IBM) is a United States-based IT company engaged in the manufacturing and sales of computer hardware and software. It offers infrastructure services, hosting services and consulting services. The company's product line includes servers and systems, software, disk systems, hard drives/micro drives, networked storage devices, semiconductors, printing paper and toner, blade center workstations and accessories. It also offers a broad portfolio of IT services including consulting, application services, outsourcing, training, small and medium business services and related services. The company operates its business in five segments: Global Technology Services (GTS), Global Business Services (GBS), Software segment, Systems & Technology segment and Global Financing segment. The company is headquartered in Armonk, New York, United States.IBM Financial StatementThe current stock price of IBM is $174.67, with a change of 1.38. The inventory volume is 4,281,800. The company's sales and revenues in 2010 were 99.78 billion. In 2011, IBM's sales and revenues were 106.92 billion. In 2012 it was 104.51 billion. In 2010, for IBM, the company's profitability was 14.83 billion. In 2011, the company's profitability increased to 15.86 billion. IBM's profitability further increased in 2012 reaching 16.6 billion. IBM's current assets include cash, short-term investments, net receivables, inventory and other assets.