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Lenovo Reports Quarterly Results
February 1, 2008 |
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Lenovo Group (LNVGY) reported its financial results for its third fiscal quarter which ended December 31, 2007 and showed sales for the quarter jumped 15%, year over year, to US$4.6 billion, driven by double-digit growth in Lenovo PC unit shipments and sales across all of the company's operating geographies.
For the seventh consecutive quarter, Lenovo worldwide PC shipments exceeded the average growth rate of the global PC market, with year-over-year growth of 22%, healthily outpacing the industry average growth of 16%.
Lenovo's segment operating profit margin for the third quarter was 4.4%, compared to 2.4% in the same period a year ago, and up 0.4 percentage points sequentially, evidence of the company's operating efficiency efforts.
"Our outstanding third quarter results demonstrate again Lenovo's acquisition and integration strategies are correct, with good execution," said Lenovo Chairman Yang Yuanqing. "Lenovo's ability to achieve faster-than-market growth and profitability was a direct result of the improvements to our competitiveness. In the next phase, we will maintain our momentum in the relationship business and in the Greater China region, while pushing forward with our transaction and consumer business globally, to continue on the path of profitable growth."
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