International Business Machines Corporation (IBM), leading technology giant has clocked a growth of 14 % in its net income which stood at $3.2 billion during the third quarter of 2009 despite a sharp dip in sales.

During the similar period in year 2008, the company had posted a net income of $2.8 billion.

The sources informed that company’s total revenues during the quarter under review stood at $23.6 billion, down 7% from the similar quarter last year.

Sources added that company’s sales have witnessed a growth of 1% over the previous three month period.

While commenting on the occasion, Mr. Samuel J.Palmisano, chairman as well as chief executive officer of IBM stated, “Our long-term strategic shift to higher-value businesses again enabled us to deliver outstanding margin, earnings and cash flow growth in the third quarter.’’