Lenovo posts sharp fall in third-quarter profit
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China's largest computer maker Lenovo Group has reported a sharp fall in profit for the first quarter as it struggles to recover from the loss-making PC business it bought from IBM.
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The contract electronics manufacturer posted a 90 percent drop in quarterly net profit, but earnings excluding special charges were higher than expected.
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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 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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The Lennar Corporation said its income fell in the third quarter after a slump in demand forced it to offer incentives to buyers.
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By Kyodo News International, Tokyo  Jan. 31--TOKYO -- Toshiba Corp. on Wednesday revised downward its group  operating profit for this business year to 250 billion yen, compared with 270  billion yen estimated in October, due to sharp declines in flash memory  prices.
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Wireless technology company Motorola Inc. said Thursday its profit plunged 94 percent in the third quarter, as sales fell substantially in its cell phone business and it narrowly averted a third straight quarterly loss.
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Acer Inc., the world's fifth-largest computer company, said Friday its third-quarter net profit fell 63 percent from the same period last year in part because of investment losses from affiliates.
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The Loews Corporation said yesterday that its third-quarter profit fell 12.5 percent as investment losses and a legal settlement at its commercial insurance unit offset better results in tobacco, drilling and oil pipelines.
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Diversified manufacturer 3M Co.  posted a weaker-than-expected quarterly profit on Tuesday and said global economic growth was slowing, sending its shares down 4.7 percent and weighing heavily on blue chip stocks overall.
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Lennar Corp. LEN.N, the   third-largest U.S. home builder, on Tuesday said quarterly   profit fell 39 percent, citing a steeper than expected decline   in the U.S. housing market.
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Texas Instruments Inc.  posted  a lower quarterly profit on weak demand for its calculators,  and gave a disappointing revenue forecast for the third  quarter, sending shares down 3 percent on Monday.
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Japanese electronics group Toshiba Corp  posted a worse-than-expected 25 percent drop in quarterly operating profit after tumbling flash memory chip prices ate into margins.
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Lenovo Group, the world's No. 4 personal computer maker, said Thursday that profit in its third fiscal quarter rose 198 percent and forecast strong sales this year despite a possible U.S. economic slowdown.
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Lennar Corp. LEN.N, the No. 3 U.S.   homebuilder, on Friday cut its third-quarter profit forecast   due to a deteriorating housing market, sending its shares down   nearly 3 percent in premarket trading.
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Lenovo Group today reported results for the third fiscal quarter ended  December 31, 2006. Lenovo's consolidated  revenue for the third quarter increased slightly year over year to  US$4.0 billion.
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Computer chip maker Advanced Micro Devices Inc. (AMD.N: Quote, Profile, Research) on Thursday posted a third-quarter profit compared with a loss a year earlier and predicted a fourth-quarter pickup in sales.