Beijing-based Lenovo Group today reported results for its second fiscal quarter ended September 30, 2010, and said it gained share in China.
During the second fiscal quarter, Lenovo's worldwide PC shipments grew 33% year-over-year. Consolidated sales for the second fiscal quarter increased 41% year-over-year to USD5.8 billion. The company's gross profit for the second quarter increased 37% year-over-year to USD593 million, with gross margin at 10.3%.
Operating profit for the second fiscal quarter was USD108 million, excluding a USD1 million restructuring cost, and was more than double the amount from the second quarter last year. Lenovo reported a second quarter pre-tax income of USD102 million, an increase of 57% year-over-year. Profit attributable to equity holders for the second fiscal quarter was USD77 million, a 45% increase year-over-year.
Lenovo China posted USD2.6 billion in consolidated sales in the second fiscal quarter, an increase of 32% year over year, accounting for 46% of the company's worldwide sales. During the second quarter, Lenovo maintained its number-one position in China with a market share of 28.8%, up 2.3% year-over-year.
Lenovo's PC shipments in China grew 21% year-over-year in the quarter, double the overall industry increase of PC shipments in China of 12%.