14 DAY TRIAL // Lenovo may have been a bit slow to finally release its financial results for its most recently ended Fiscal Year quarter 2010, but it seems to have done quite well for itself, having apparently experienced its fifth consecutive quarter of fast positive financial evolution.
According to the press release that Lenovo gave, shipments increased by 20.6% during the third fiscal quarter of 2011 (ended December 31, 2010).
This means a sum of US$5.8 billion and a pre-tax income of US$121 million, as well as a profit attributable to equity holders of US$100 million (25 percent gain year-over-year).
For those that want more numbers, year-over-year sales growth was of 22%, while gross profit grew by the same percentage, to US$648 million.
This left gross margin at 11.2% and the operating profit at US$127 million, meaning a year-over-year improvement of 28%.
“The Board is satisfied with Lenovo’s performance in this quarter in all aspects of measurement. For the fifth consecutive quarter, Lenovo has continued to be the fastest growing among the top five PC manufacturers globally. Volume, revenue, cost and expense, and pre-tax-income targets were all delivered,” said Lenovo Chairman Liu Chuanzhi.
“The outstanding result indicates that the strategy of Protect-Attack and balanced development has shown its effect. While driving for business momentum, Lenovo will further increase investment in brand building and product development. I believe that today’s investment will bring good return to our shareholders in future,” he added.
“One of the keys to our success is that we are building a winning culture at Lenovo, and our success in the marketplace is a direct result of that effort,” stated Lenovo CEO Yang Yuanqing,
“Looking forward, we will invest in building our global brand, driving more product innovation and creating an even more efficient end-to-end business model. Based on this, we are confident we can continue to outgrow the market and deliver strong results across our business,” he concluded.