P. M. BRIEFING : IBM Shows a Skewed 39% Profit

International Business Machines Corp. today reported a 39% increase in its second-quarter profit largely because of one-time factors, while Apple Computer Inc. said its profit rose 5.3% in the latest period.

IBM’s profit increase was unusually large because its results in the year-earlier comparison period were depressed by a one-time $600 million charge to cover the cost of cuts in manufacturing and headquarters operations. Armonk, N.Y.-based IBM said it earned $1.34 billion in the quarter, or $2.31 a share, in comparison with earnings of $964 million, or $1.63 a share, a year earlier. Revenue rose 9.4% to $15.2 billion from $13.9 billion.

Apple, the Cupertino, Calif.-based personal computer maker, said its earnings in its third fiscal quarter ended June 30 rose to $96.1 billion, or 74 cents a share, from $91.3 million, or 71 cents a share, a year earlier. Revenue rose to $1.25 billion from $993 million a year earlier.

Apple said it continued to be hurt by higher component costs, especially for memory chips, which it bought when they were at their highest price.