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To: rupert1 who wrote (60301)	5/2/1999 11:45:00 AM
From: Windseye	Read Replies (2) \| Respond to of 97611

Vic, How do you see increasing service volume decreasing SGA expenses? Service is labor intensive on the admin side; more biz means at least the same amount of admin expense. Only with products can one safely assume increase in volume can be obtained with the same GA... it may incur more sales expense, however. Doug

To: rupert1 who wrote (60301)	5/2/1999 8:41:00 PM
From: John Koligman	Respond to of 97611

Hello Victor - IBM's annual report provides a breakdown of revenue/cost/gross profit by business segment, but SG&A is provided as an overall figure. Here are the numbers for the past three years: Operating expenses 1998 1997 1996 SG&A 16,662 16,634 16,854 Percentage of revenue 20.4% 21.2% 22.2% R&D 5,046 4,877 5,089 Percentage of revenue 6.2% 6.2% 6.7% All figures are in billions. IBM does split out gross profit numbers for their various business groups, I can provide them if you want specific figures... Regards, John