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VIRTUALISATION Lenovo reports small rise in PC sales
VIRTUALISATION Lenovo reports small rise in PC sales | Lenovo reports small rise in PC sales |
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| by Sam Varghese | |
| Thursday, 06 August 2009 | |
  
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A media release said the company's worldwide PC shipments had increased by 1.1 percent year on year. For the same period, industry shipments fell by 3.3 percent. Consolidated sales, however, fell by 17.9 percent to $US3.5 billion. Gross profit decreased by 37 percent year on year, with gross margins being 11 percent. The company reported operating profit of $US16 million for the quarter, excluding restructuring costs and one-off items. In comparison, the previous quarter saw a loss of $US 76 million. First quarter pre-tax income was break-even at $US322,000 (excluding restructuring costs/one-off items) compared to the previous quarterly loss of $US81 million. Loss put down to equity holders was $US16 million. During the previous fiscal quarter there was a loss of $US264 million put down to equity holders. The company said its worldwide restructuring programme had continued during the quarter and cost $US3 million. A basic loss per share of 18 US cents was reported, while the company's cash reserves on June 30, 2009, stood at $US1.4 billion. |
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