Quarterly results: Lenovo still strong

Lenovo Group said Thursday its results for the first fiscal quarter ended June 30, 2016. In an environment marked by a difficult economic situation, quarterly revenues amounted to 10.1 billion dollars, a decrease of 6% (4% constantly) currency over the previous year. In quarterly terms, this translates into an increase of 10%. Income before taxes for the first quarter increased by 297% year-on-year to USD 206 million. Net income increased 64% year-on-year to USD 173 million.Lenovo achieved its financial performance in the first quarter during a period in which major markets experienced growth or decline or sectoral declines over the previous year: PC sales fell by 4.1% and 11.1% tablets, while that in the sector of servers, shipments remained virtually unchanged, with 0.7% of the smartphone market."While macroeconomics and industry remain difficult, which depresses revenue, we have significantly improved our revenue year after year, thanks to innovative products and solid execution. Our PC business generated strong earnings and our smartphone business stabilized compared with the last quarter, "said Yang Yuanqing, chairman and CEO of Lenovo. "In the future, we will, in the PC business, focusing on high-growth segments and take advantage of industry consolidation to boost growth. In the smartphone segment, we will take advantage of the innovative products and still offer differentiated prices higher ranks to stimulate growth and rectify this activity. in the segment of data centers, will continue to invest in hyper converging technologies, and improve the profitability of the hyperscale solution. "Gross profit for the first fiscal quarter of the Company decreased by 7% from the previous to $ 1.5 billion years, with a gross margin of 15.3%. Operating profit quarter increased 97% year over year to $ 281 million. Basic earnings per share for the first fiscal quarter was 1.57 US cent. Net debt reached $ 1.2 billion at June 30, 2016.
Quarterly results: Lenovo still strong Reviewed by Dev17.club on lundi, octobre 03, 2016 Rating: 5 Lenovo Group said Thursday its results for the first fiscal quarter ended June 30, 2016. In an environment marked by a difficult economic ...

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