Posted: Thursday, Nov. 05, 2009
PC maker Lenovo Group reversed three consecutive quarters of losses in the latest quarter and posted better-than-expected profits.
The Chinese company, which has one of its headquarters in Morrisville, benefitted from strong shipment growth in China and emerging markets.
The company reported a profit of $53 million for its fiscal second quarter that ended Sept. 30, more than double its profit of a year ago.
Revenue totaled $4.1 billion. That marked a decline of 5.2 percent from a year ago, but it was 19 percent higher than the prior quarter.
The world's No. 4 PC maker has been cutting costs and focusing more on emerging markets in response to the global recession. The company, which entered the U.S. market in 2005 when it acquired IBM's PC business, employs 1,500 in Morrisville.
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