Feeds

Lenovo FY2005 sales, income edge upward

Pre-IBM PC biz purchase

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

IBM PC Division purchaser Lenovo said today the integration of the Big Blue business into its own operation was proceeding "smoothly" as it announced results for the year to 31 March 2005.

Consolidated turnover for the year was up 2.7 per cent to HKD$22.55bn ($2.9bn), though it would only have risen 1.6 per cent if Lenovo hadn't ditched its "non-core" - ie. non-IT and non-communications - businesses during the year.

Gross margin fell from 14.75 per cent to 14.62 per cent, the company said.

Still, it's profits were up 6.4 per cent to HKD1.12bn ($143.94m). Excluding the company's "investment in globalisation" - ie. the amortisation of marketing rights to the Olympic Partner Program - profits were up 9.4 per cent to HKD1.15bn ($148.06m). The group's earnings came to HKD0.15 ($0.02) a share. Lenovo said its board has proposed a final dividend of 2.8 HK cents per share.

Lenovo's corporate IT business grew by 2.5 per cent to HKD12.23bn ($1.57bn). However, its consumer IT business remained approximately even with the prior fiscal year at HKD7.77bn ($998.34m). Turnover in Lenovo's handheld device business increased by 7.5 per cent to HKD2.2bn ($283.13m) on a 63 per cent increase in unit shipments. That, the company claimed, puts it among the top five domestic brand names in China in 2004.

Lenovo completed its acquisition of IBM's PC Division last month after regulators in the US gave the deal their approval in March. ®

Related stories

Notebooks outsell desktops
Dell promises posh PCs
Dell red-faced over salesman's Lenovo jibes
IBM Lenovo gets new head
Lenovo raises $350m for IBM PC takeover
IBM to sell Lenovo kit by year-end
US OKs IBM PC deal

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.