Lenovo swings back to black in June quarter

Lenovo (0992.HK), the world's No. 4 PC brand, said on Thursday it swung back to the black in its fiscal first quarter, in line with expectations, as it re-focused on developing markets, including its home base China.

Lenovo made an April-June net profit of $54.86 million, reversing a $16 million loss a year ago, and largely in line with expectations for a $57.1 million net profit according to a poll of three analysts by Thomson Reuters I/B/E/S.

Lenovo has been trying to return to its roots as an emerging markets specialist after it struggled to integrate overseas-focused assets it acquired when it bought IBM's (IBM.N) laptop PC unit in 2005.

Read Full Article from Reuters

- Posted: 2010-08-18 22:19:24

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