The Channel logo


By | Joe Fay 25th May 2006 12:17

Restructure punishes Lenovo numbers

Non China ops static or sliding

Lenovo’s fourth quarter figures were floored by a massive restructuring charge, the Chinese PC giant revealed today.

Revenue for the quarter ending 31 March was HK$24.4bn (£1.68bn), up 417 per cent, reflecting the contribution of the IBM PC operation it bought last year. Pre-tax losses were HK$317m (£21.9m), but once restructuring charges were included, they ballooned to HK$903m (£62.3m).

For the full year, revenues were up 359 per cent to HK$103.6bn (£7.1m), with pretax income up seven per cent to HK1.2bn (£82.7m). However, once restructuring charges were included this slipped to HK$173m (£11.9m).

The figures were underpinned by the company's performance in China. Its US operation saw static shipments, and turned in a loss. Shipments in Asia Pacific, excluding China, were down five per cent, though it saw a profit, while EMEA shipments slipped three per cent, and the region showed an operating loss. ®

alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


Suit-and-tie-wearing man tries to meditate, take deep breaths in faux yoga pose. Photo by Shutterstock
Emotional intelligence, not tech skills, is the way to woo suits
League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe