Lenovo Group profits soar
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Lenovo Group Ltd., the world's No. 4 personal computer maker, said Wednesday its profits grew nearly sevenfold in its latest fiscal year as it boosted sales and restructured following its acquisition of IBM Corp.'s PC unit.
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Electronic Data Systems Corp. reported a  higher quarterly profit on Wednesday, boosted by a surge in new  orders for its technology services.
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(InfoWorld) - Lenovo GroupÂ on Thursday reported a jump in third-quarter profits, even as its turnover during the period remained flat compared to one year ago. Lenovo reported a profit attributable to shareholders of $57.7 million on sales of $4 billion during its fiscal third quarter, which ended on Dec. 31, 2006. That's a 23 percent increase in profits compared to the same period during the previous fiscal year, whenÂ Lenovo reported a profitÂ of $46.8 million on sales of $4 billion, the company said in a filing with the Hong Kong stock exchange. On a sequential basis, the results show good news for Lenovo. The company saw its profit fall by 53 percent during the first half of its fiscal year -- from $91.2 million to $43.1 million -- compared to the year-ago period. Lenovo's PC shipments during the quarter increased 8 percent over the previous year, outpacing the industry average, which the company pegged at 7 percent, the filing said. As usual,Â China was a strong marketÂ for Lenovo, with PC shipments up 19 percent. The company also saw shipments rise by 3 percent in Europe, the Middle East and Africa. But Lenovo's PC shipments slipped 4 percent in North and South America due to weaker demand from large companies. Shipments fell by 1 percent in the Asia-Pacific region, excluding China, Hong Kong and Taiwan. Around 52 percent of Lenovo's revenue came from notebook PCs, as unit shipments rose 20 percent over the previous year, Lenovo said in a press statement. Desktop shipments rose 2 percent, contributing 43 percent of the company's total revenue. The remainder of Lenovo's revenue came from the sale of mobile phones, which contributed 4 percent of revenue. Handset shipments fell by 6 percent compared to the previous year, Lenovo said.
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Lenovo Group Ltd. (0992.HK), the  world&#039;s third-largest computer maker, swung to a much  sharper-than-expected loss in the fourth quarter, after paying  &#36;1.25 billion for IBM&#039;s  PC arm in 2005.
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Lenovo Group Ltd., a Chinese technology giant that has agreed to buy IBM's personal computer division, reported Friday a slight rise in net profit in its fiscal third quarter, citing lower revenue despite strong sales of notebook computers.
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Lenovo Group Ltd.  posted its strongest pace of quarterly earnings growth since it bought IBM's loss-making PC arm in 2005, as the world's No. 3 PC maker cemented Asian market share and held costs down.
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Business & money: World's second largest PC maker reports first-quarter profits above Wall Street expectations, then announces layoff equivalent to 10% of its workforce.
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Lenovo's PC shipments during the quarter increased 8% over the previous year, outpacing the industry average, which the company pegged at 7%.
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Third-quarter net income rose 7.4 percent to $960 million, helped by strong demand in international markets. The company also raised its full-year profit outlook.
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Dell Inc. said its profit surged 25 percent in the third quarter as the world's largest personal computer maker posted record sales due to rising technology spending in the corporate and government sectors in the United States and abroad.
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COMPUTER and printer maker Hewlett-Packard has reported record revenues in every business and every region, with quarterly profit up 27 per cent.
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First quarter profits at computer maker Hewlett-Packard jump 26% on strong PC and notebook computer sales.
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The device maker produces another quarter of incredible growth.
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Shares in Chinese PC maker Lenovo rise as reports suggest regulatory and security worries could thwart its takeover of IBM's PC unit.
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Despite 'sluggish' HDD and mobile phone sales Japanese electronics giant Toshiba yesterday reported a hike in first half profits, buoyed by strong demand for the firm's memory chips as well as steady growth in the computer arm of its business.â¦
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Needs bigger offshore presence Fujitsu posted a good increase in revenue profits and claimed a record forward order book of Â£6.6bn, up from Â£6.5bn last year.â¦
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LG Electronics said Thursday its fourth-quarter net profit was more than 12 times greater than earnings in the same period a year ago amid record mobile phone sales and a turnaround in its flat panel subsidiary.