Cost Cuts Push Lenovo Profit Up 198 Percent
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In 2008, Lenovo expects double-digit sales growth despite a possible U.S. slowdown, due to its bigger presence in faster-growing markets such as China and India.
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The electronics retailer said it swung to a third-quarter profit, overcoming lower revenue by cutting costs and selling more high-margin items.
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International Business Machines Corp.  on Tuesday posted a quarterly net profit that beat Wall Street's recently raised target as solid year-end product sales were buoyed by a weaker U.S. dollar.
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Wal-Mart reported a better-than-expected 9.8 percent increase in fourth-quarter profit yesterday, helped by new strategy and cost-control measures at its flagship U.S. stores division.
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The Lenovo Group, the personal computer maker, said its profit rose more than 600 percent in its latest fiscal year as it increased sales and restructured after its acquisition of I.B.M.âs PC unit. Profits were $161 million for the year, up from $22 million in the prior year. The Americas operations returned to profitability in the fourth quarter, meaning that all the global regions were profitable for the first time, the chief executive, William J. Amelio, said. Sales for the year, which ended March 31, rose 9.9 percent, to $14.6 billion, helped by strong sales of laptop and desktop computers in its home China market, Lenovo said. The company said its worldwide market share rose 0.2 percentage points, to 7.4 percent.
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Johnson Controls Inc. reported a 20 percent increase in profit for fiscal 2004, posting net income of $817.5 million, or $4.24 per share, compared with $675.
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Chinese PC maker Lenovo says annual profit up more than 600 percent    BEIJING, May 23 (Xinhua) -- Lenovo Group, the world's third- largest personal computer maker, said Wednesday its annual net income soared 625 percent for the year through March on stronger sales.
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Lenovo, the Chinese computer maker which is buying IBM's PC arm, has seen profits growth stall as domestic sales slow.
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Lenovo, the world's third-biggest personal-computer maker, returned to profit in the fourth quarter. Net income was $60.1 million in the three months that ended March 31, compared with a $116 million loss a year earlier.  (c) 2007 International Herald Tribune.
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Intel Corp. said Tuesday its second-quarter profit jumped 44 percent on strong sales of microprocessors even as the company faced fierce competition that pushed prices lower.
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IBM , the world's largest technology services company, on Wednesday posted a 12 percent jump in quarterly profit and raised its 2007 earnings forecast as revenue surged on software-company acquisitions.
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Lenovo Group income rose in Q3 due to strong computer demand, but phone shipments are weak.
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The company said third-quarter profit rose more than expected, boosted by higher aircraft deliveries, but it scaled back next yearâs forecast due to delays on its 787 Dreamliner.
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AT&T, the nation's biggest long-distance carrier, said that its profit jumped a better-than-expected 84 percent in the fourth quarter as it cut costs.
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IBM  reported a better- than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 5 percent and spurring a broader tech rally.
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The company posted quarterly net profit of $904 million and revenue of $6.22 billion, up 29 percent from a year earlier.
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The toymaker, which has avoided the recalls that plagued many of its competitors, said its fourth-quarter profit rose 24 percent on a 16 percent increase in sales.