OREANDA-NEWS. Lenovo Group announced results for its fourth fiscal quarter and full-year ended March 31, 2013. With record full-year sales of USD 34 billion, an increase of 15 percent year-over-year, a record full-year pre-tax income of USD 801 million, up 38 percent year-over-year and record earnings of USD 635 million, up 34 percent, Lenovo had a strong showing. While Lenovo continued to close in on the # 1 position in PCs, with a record 15.5 percent market share for the full-year, it accelerated its transformation to become a top competitor in the PC Plus era, with a 5.9 percent share of Smart Connected Devices and global #3 ranking.

Lenovo had record revenues for the fourth quarter of USD 7.8 billion, four percent year-over-year growth. The Company achieved pre-tax income of USD 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 USD 963 million, an increase of 20 percent year-over-year. Gross margin was 12.3 percent. Operating profit for the fourth quarter was USD 169 million, up 67 percent year-over-year, while earnings jumped 90 percent year-over-year to USD 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 USD 4.1 billion, an increase of 18 percent year-over-year. Gross margin was 12 percent, while operating profit for the full fiscal year was USD 800 million, a 37 percent jump over year-over-year. Lenovo’s earnings grew 34 percent year-over-year to USD 635 million.