Lenovo reports a robust quarter
Notebook sales helped push the PC maker to $3.7 billion in revenue and a big jump in profit.
PC maker Lenovo turned in a strong financial performance for its fourth fiscal quarter, with revenue, profits, and PC shipments all seeing notable jumps.
For the quarter that ended March 31, Lenovo said that profits attributable to shareholders grew 133 percent to $140 million from the same period a year ago. That figure includes $36 million in net profit from the sale of discontinued operations (its mobile handset business). Earnings per diluted share hit $1.44, a rise of 112 percent.
Revenue for the three-month period rose 13 percent to $3.7 billion.
China-based Lenovo said that worldwide PC shipments grew 21 percent, ahead of the industry average growth rate.
outpaced desktops for the quarter, with notebooks making up 61 percent of total sales versus 38 percent for desktops. Notebook shipments were up 38 percent, while desktop shipments were up 9 percent.
The company's Greater China business accounted for 34 percent of total sales during the quarter, while its Americas business accounted for 27 percent, slightly ahead of the percentage for Europe, the Middle East, and Africa. Asia-Pacific sales excluding China accounted for 15 percent of sales.