The IT department creates profits by having a much-needed service with little overhead and no inventory on hand. The most expensive part of the IT department (and every American company) is the labor involved in keeping up with demand. The IT department is vital to most companies today, unless you are a small business in a city of less than 300,000 people.
The IT department creates profit, because the IT department makes it so that everyone else can do their job more efficiently. IT has even eliminated the necessity for some jobs completely, because we can use technology to do jobs that we used to have to use people to do. That increases profit.
I believe the IT department helps those who actually bring in the profit and are therefore partially responsible for the profit. Without an IT department companies can get caught up in computer system they need but don't understand. IT departments are essential and while they are a cost, they shouldn't be looked down upon. They are an equal part of the team.
I think that the IT department creates both cost and profit but in the long run creates more savings and profits than costs. IT can be costly at the beginning and throughout upkeep, however it also helps to company to be more profitable over time. Most, if not all, companies should start to incorporate IT.