Lenovo quarterly profit more than triples
By Chris Oliver
Published: May 26, 2011 8:39 a.m. ET
ChrisOliver
HONG KONG (MarketWatch) — ThinkPad maker Lenovo Group on Thursday said its net profit in its fourth quarter more than tripled, helped by a 16% rise in PC shipments.
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Net profit for the January-to-April period, the final quarter of the company's fiscal year, was $42.13 million, compared with $12.8 million a year earlier, the company said in a filing to the Hong Kong Stock Exchange. Analysts had expected China's largest computer maker, as measured by units shipped, to report quarterly profit of a $36.7 million, according to a poll conducted by Thomson Reuters.
Net profit for the full year ending March 31 was $273.2 million, more than double the $129.4 million figure of a year earlier.
Lenovo (992) LNVGY, +0.42% declared a final dividend of 5 Hong Kong cents a share, up from 4.5 Hong Kong cents a share a year earlier.
Lenovo said it was able raise PC shipments during the period against a backdrop of a 1.1% industry decline in computer shipments during the period. See related story for details on Lenovo plan to sell tablet devices in U.S. market.
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LNVGY
Lenovo Group Ltd. ADR U.S.: OTC: LNVGY