Lenovo has a solid Q4 despite sluggish industry

Lenovo has released its earnings reports for its fiscal Q4 and full year, which ended on March 31. Lenovo posted record sales of $34 billion, which was an increase of 15% compared to the previous year. Lenovo reported year-end pre-tax income of $801 million, which is an increase of 38% year over year.

Earnings for the technology company reached a record of $635 million, which is an increase of 34% from the previous year. Lenovo also reports a 15.5% share of the overall market for the full year. Lenovo still seeks the number one position in the global computer market and is working hard to get there.

Revenues for Q4 totaled $7.8 billion Lenovo and gross profit for the quarter $963 million. That last number is an impressive 20% growth year-over-year. Basic earnings per share as reported by Lenovo were $1.22 per share leading Lenovo's board to declare a dividend of $1.81 per share.

“Despite a challenging macro-economic environment and ongoing PC industry transformation, Lenovo delivered a strong performance in the 2012/13 fiscal year. Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth,” said Yang Yuanqing, Lenovo Chairman and CEO.

Lenovo is proving that it can weather the PC market downturn while competitors like Dell and HP are still struggling. Lenovo is even reportedly looking to double dip into IBM by purchasing its server business (Lenovo already bought IBM’s consumer PC business back in 2005).

Source: Lenovo

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