Printed from http://www.electronista.com

Lenovo defies industry trends, grows quarterly revenue and earnings

updated 09:34 pm EDT, Wed August 14, 2013

Lenovo seeing growth in PC, Laptop, Mobile segments

The Lenovo Group today reported results for its first fiscal quarter that ended on June 30. The China-based computer manufacturer posted quarterly revenue of $8.8 billion, a 10 percent increase year-over-year. At the same time, Lenovo's first quarter pre-tax income increased 16 percent year-over-year to $215 million, highlighting the company's continued focus on leading what it calls the "PC Plus era," while growing its business profitably across all geographies, customer segments, and product lines.

Lenovo's PC shipments for the first fiscal quarter were 12.6 million units, the 17th quarter in a row that Lenovo outperformed the industry as a whole, which was down 11 percent year-over-year. During the first fiscal quarter, Lenovo claims to be the third-largest supplier of PC, smartphone and tablet products, growing shipments 41 percent year-over-year. Lenovo's combined sales of smartphones and tablets surpassed PCs for the first time ever during the quarter.

The company's gross profit for the first fiscal quarter increased 14 percent year-over-year to $1.2 billion, with gross margin at 13.6 percent. Operating profit for the quarter grew 11 percent year-over year to $202 million. Basic earnings per share for the first fiscal quarter was 1.67 cents.

During the first fiscal quarter, Lenovo signaled the return of PC manufacturing to the US with the grand opening of its manufacturing facility in Whitsett, NC. The new manufacturing line is capable of producing some of Lenovo's newest Think-branded products, including the ThinkCentre M92p Tiny desktop, ThinkPad Tablet 2, and the ThinkPad Helix convertible ultrabook.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Fugoo Bluetooth speaker

It's rare to find a Bluetooth speaker that can cover a large array of needs. Generally, speakers are wrapped in a desktop-convenient d ...

Epson LW-600P

Label makers are traditionally simple machines that perform a single task which people feel they can either live with or without. In m ...

DXG IronX 5G9V HD action cam

Since the introduction of the GoPro, numerous action cams have come out of the woodwork to tackle the consumer need for camcorders tha ...

Sponsor

toggle

Most Commented

 
toggle

Popular News