Lenovo Reports Impressive Fiscal Q1 Financials, Increased PC Shipments
August 16, 2012 11:11 AM
comment(s) - last by
Lenovo had a great quarter, ranked as #2 PC maker
The Lenovo Group reports that its fiscal year ending June 30, 2012 brought with it a record market share for the company at 15%.
Lenovo’s net income increased by 30% year-over-year to $141 million. The company is now the world's second-largest PC maker and it’s impressive to see Lenovo grow so significantly during the quarter despite the fact that overall PC shipments are down early 2% compared to last year.
Lenovo was able to increase its computer shipments for its fiscal Q1 by 24.4% compared to the same quarter last year. This marks the 13th quarter in a row that Lenovo has been able to outpace the overall computer industry. The end of fiscal Q1 also marks the 11th quarter in a row that Lenovo has grown faster than any other computer maker in the top four.
Lenovo reports balanced growth across all countries in customer segments as well is all of its product lines. The company reports increased gross profit margin for fiscal Q1 of 30% year-over-year. Lenovo group's operating profit rose 48% compared to the same quarter of 2011. Basic earnings per share for Lenovo during the quarter were $1.37 with net cash reserves at the end of the quarter totaling $3.7 billion.
"Although the economic environment is somewhat similar to the 2008-2009 downturn, Lenovo’s results are much stronger because we have the right strategy and great execution,” said Yang Yuanqing, Lenovo Chairman and CEO.
“Our businesses in emerging markets outside of China, our consumer business and MIDH business all achieved rapid expansion, providing the balanced pillars to support our overall performance. Our business in China and our global commercial business maintained strong profitability, which allows us to secure plenty of resources to invest in growth areas and ensure the company’s overall healthy performance. Although we're in a challenging environment, we are confident that by continuing to execute our Protect and Attack strategy, Lenovo can achieve sustainable growth and healthy returns in the PC+ era."
Lenovo's CEO recently made headlines when he
shared his massive bonus
This article is over a month old, voting and posting comments is disabled
RE: This is good to see
8/16/2012 12:55:54 PM
Instead of whining about MS Surface like Acer, Lenovo states that they will make a Surface device better than MS.
*Thinkpads are of much higher quality than IdeaPad. Just throwing out there as trolls confuse the two.
RE: This is good to see
8/16/2012 1:11:02 PM
Yup. Thinkpads are the absolute best in the business as far as quality/failure rates. Absolutely amazing how few of them fail.
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees
July 20, 2012, 9:43 AM
3/7/2014 Daily Hardware Reviews
March 7, 2014, 10:19 AM
Quick Note: OCZ Z-Drive 4500 PCIe SSD Gets Official
March 4, 2014, 9:53 AM
3/4/2014 Daily Hardware Reviews
March 4, 2014, 8:45 AM
2/27/2014 Daily Hardware Reviews
February 27, 2014, 11:54 AM
2/26/2014 Daily Hardware Reviews
February 26, 2014, 10:28 AM
AVADirect Unleashes High-End Supermicro, Tyan GPU Servers
February 7, 2014, 12:35 PM
Most Popular Articles
Bitcoin King Pt. II: Mt. Gox's Dictator Karpelès Proves Tragically Flawed
March 7, 2014, 1:12 PM
Windows 8.1 Update 1 Leaked Early
March 7, 2014, 9:30 AM
Hack Reveals Fallen Bitcoin CEO's Posh Tokyo Penthouse
March 10, 2014, 4:28 PM
Vine Users No Longer Allowed to Post Pornographic Videos
March 7, 2014, 1:47 PM
Staples Closing 225 Stores Across North America
March 7, 2014, 1:24 PM
Latest Blog Posts
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information