The IBM 407 Accounting Machine was the culmination of a long line of IBM tabulating equipment, dating back to the days of Herman Hollerith. It was the central component of any unit record equipment shop. The 407 read punch cards, totaled fields on the cards, made simple decisions, printed results, and, with the aid of a summary punch, output results on cards that could be input to other processing steps. The 407 could read up to 150 cards per minute.
For printing, the 407 used spinning wheels, an improvement over earlier tabulators that used print bars. In the late 1950s, the 407 was adapted as an input/output device on early computers, such as the IBM 650. Later, 407 print mechanisms were used in the IBM 1133 lineprinter, part of the low cost IBM 1130 computer system.
External links:
the 407 at Columbia University (http://www.columbia.edu/acis/history/407.html)
The IBM407 Accounting Machine, introduced in 1949, was the culmination of a long line of IBM tabulating equipment (including the 405 and 402), dating back to the days of Herman Hollerith.
The 407 read punch cards, totaled fields on the cards, made simple decisions, printed results, and, with the aid of a summary punch, output results on cards that could be input to other processing steps.
In the late 1950s, the 407 was adapted as an input/output device on early computers, such as the IBM 650.
IBM today announced first-quarter 2005 diluted earnings per common share of $.85 from continuing operations as reported, including the effect of expensing share-based compensation, compared with diluted earnings on a similar basis of $.79 per share in the first quarter of 2004, an increase of 8 percent.
In the fourth-quarter 2004, IBM announced an agreement to sell the Personal Computing Division, a unit of the Personal Systems Group, which is expected to close in the second-quarter 2005.
IBM's effective tax rate from continuing operations in the first quarter 2005 was 30.0 percent, compared with 30.1 percent in the first quarter of 2004.
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