Lenovo turns in net of $15 million

PC FIRM Lenovo said it turned in sales of $3.5 billion and returned a pre-tax income of $34 million for its first quarter.

The results include a restructuring charge of $19 million so net profit is $15 million.

Sales of PC shipments grew by 12 per cent QoQ, YoY, which Lenovo said was three per cent more than the industry average.

Lenovo is growing its business both in China and worldwide, said Yang Yuanqing, the chairman of the board.

The firm is numero uno in Greater China, with shipments rising 30 per cent, boosted by strong notebook sales. This region generated $1.3 billion or 39 per cent of the firm's revenues.

Shipments in the Americas were worth $1 billion, 29 per cent of the total pie. Asia Pacific revenues were $461 million, 13 per cent of the pudding. The EMEA market turned in $662 million, 19 per cent of the Lenovo business. Shipments in EMEA in its first quarter declined by 12 per cent.