Lenovo posted record sales of $34 billionStaff writer ▼ | Friday May 24, 2013 5:35AM ET
The company also saw a record full-year pre-tax income of $801 million, up 38 percent year-over-year and record earnings of $ 635 million, up 34 percent, Lenovo had a strong showing. Lenovo continued to be No1 in PCs, with a record 15.5 percent market share for the full-year. The company has a 5.9 percent share of Smart Connected Devices and global No3 ranking.
Lenovo had record revenues for the fourth quarter of $7.8 billion, four percent year-over-year growth. The company achieved pre-tax income of $166 million during the fourth fiscal quarter, a 63 percent increase over the same period last year. Compared to an overall industry decline of more than 13 percent year-over-year, Lenovo grew at a 14 point premium to the market, besting the industry for the 16th quarter in a row.
The company's gross profit for the fourth fiscal quarter grew to $963 million, an increase of 20 percent year-over-year. Gross margin was 12.3 percent. Operating profit for the fourth quarter was $169 million, up 67 percent year-over-year, while earnings jumped 90 percent year-overyear to $127 million.
Basic earnings per share in the fourth fiscal quarter are 1.22 US cents, or 9.46 HK cents. Lenovo's Board of Directors declared a final dividend of 1.81 US cents, or 14.0 HK cents per share for the fiscal year ended March 31, 2013.
For the 2012/13 fiscal year, Lenovo's PC shipments grew 10.2 percent year-over-year, compared to an overall industry decline of 8.1 percent during this same period. Gross profit for the full year was $4.1 billion, an increase of 18 percent. Gross margin was 12 percent, while operating profit for the full fiscal year was $800 million, a 37 percent jump, and earnings grew 34 percent. ■