Lenovo has announced its Q1 2008/2009 financials and is reporting pre-tax income of $137 million. Lenovo says that profit attributable to shareholders is up 65% to $110 million. Lenovo says that its worldwide PC shipments grew 14.6% and was in line with the PC industry average.
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Lenovo reports that its consolidated sales for the quarter were up 10% to $4.2 billion and its gross profit margin for the quarter was 14.1%. Lenovo reports basic earnings per diluted share of 1.25 cents.
"Despite a softening global economy, we delivered solid gains in worldwide sales, PC shipments and profits, achieving our seventh consecutive quarter of profitable growth with positive operating results in our international business," said Chairman Yang Yuanqing. "Our improved E/R ratio also reflected progress in our operational efficiency. Looking forward, we will invest even greater effort and resources into the development of emerging markets and our consumer business, and ensure an effective execution of our strategies. As a Worldwide Partner of the International Olympic Committee and the exclusive technology equipment provider of the Beijing 2008 Summer Olympic Games, Lenovo is ready and will do our best to ensure the smooth operations of the comprehensive IT system we are providing to support the Games. We will fully leverage this unique opportunity to showcase the Lenovo brand on the world stage."
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