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Thursday, November 05, 2009
Lenovo Fiscal Q2 Net Income $53.1 Million
By Chris Oliver
MarketWatch Pulse
HONG KONG -- Lenovo Group [s; lnvgy] said Thursday net income for the fiscal second quarter ended Sept. 30 more than doubled from a year earlier, reversing from losses in the three consecutive quarters, lifted by a surge in consumer demand for PCs in China and cost savings. Net income for the quarter totaled $53.1 million, up from the $23.4 million a year earlier. Analysts had expected a profit of $20.5 million, according to a poll by Dow Jones Newswires. The maker of the ThinkPad line of computers said quarterly PC shipments jumped 17%, driven by double-digit growth in shipments to China. Revenue for the quarter totaled $4.10 billion, a drop of 5.2% from the $4.33 billion a year earlier.
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