PC Shipments Rise For Lenovo

Lenovo's worldwide PC shipments grew 14.6% over the last quarter as it reported results for its first fiscal quarter ended June 30, 2008. Consolidated sales for the quarter from continuing operations — excluding the mobile handset business, which it sold in March 2008 — rose 10% year over year to USD4.2 billion. The Group's gross profit margin for the first quarter reached 14.1%. Lenovo reported pre-tax income of USD137 million from continuing operations. Profit attributable to shareholders for the quarter grew 65% to USD110 million. Lenovo Greater China posted USD1.7 billion in consolidated sales in the first fiscal quarter, up 22%, with growth of 17% in PC shipments. Despite the impacts from the Sichuan earthquake and floods, Lenovo continues to lead the China market with a share of 27.9% on the strength of sales across... [read full story]