Lenovo reports annual and Q4 financial results, breaks multiple records

May 23, 2013
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Early this morning, Lenovo reported its end of year (as of March 31) and fourth fiscal quarter earnings, boasting multiple records, including record PC shipments and global market share, annual sales, and annual pre-tax income. In addition, numbers are up across the board, with Q4 revenues hitting a record and increasing 4-percent year-over-year, and the quarter's gross profit jumping 20-percent over last year.

As far as the full-year numbers go, Lenovo saw a pre-tax income of $801 million USD, with the earnings coming in at $635 million. Annual sales hit $34 billion, resulting in a full-year 6.16 cents basic EPS. As of the year-end, net cash reserves tallied in at $3.1 billion. Crunching the numbers, we see the full-year sales hitting a record, jumping 15-percent year-over-year.

The fourth-quarter results were also excellent, seeing a record revenue of $7.8 billion and a pre-tax income of $166 million, a jump of 63-percent year-over-year. In the fiscal quarter, the company saw basic EPS (earnings per share) of 1.22 cents per share. Meanwhile, the operating profit in the quarter increased 67-percent year-over-year to $169 million, and earnings jumped most of all - a whopping 90-percent - to $127 million.

Lenovo also saw good things in the market, gaining 14 points while the industry as a whole saw a drop in excess of 13-percent over the previous year. This pushed the company into its record market share at 15.5-percent, fueled in part by another record, this one in PC shipments totaling a tad over 52 million units. Such numbers represent a year-over-year shipments increase for the company of about 10-percent annually. Lenovo in Asia Pacific/Latin America saw the greatest growth in quarterly market share at 11.7-percent, followed by Lenovo in Europe, the Middle East and Africa at 11-percent.

Lenovo's CEO and Chairman Yang Yuanqing said: "Despite a challenging macro-economic environment and ongoing PC industry transformation, Lenovo delivered a strong performance in the 2012/13 fiscal year. Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth."

SOURCE: Business Wire


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