OREANDA-NEWS. Lenovo Group announced results for its fourth fiscal quarter and full-year ended March 31, 2014. With record full-year revenue of USD 38.7 billion, an increase of 14 percent year-over-year, a record full-year pre-tax income of USD 1.01 billion, up 27 percent year-over-year and record full year earnings of USD 817 million, up 29 percent, Lenovo had a truly outstanding year.

Lenovo expanded its number one position in PCs, adding 2.1 points of market share to post a record 17.7 percent total share for the full-year, representing five percent year-over-year growth, compared to an overall industry decline of 8 percent during this same period. Even while China's PC market slowed, Lenovo's operating profit in China PC improved by 1 percentage point. Asia Pacific had record share of almost 15 percent, while improving profitability. For the first time, Lenovo's EMEA revenue surpassed its China PC revenue in the quarter, while in the US, Lenovo surpassed Apple to take the number three position in PC shipments in the fourth quarter. With 20 consecutive quarters of outgrowing the PC market, Lenovo continued to show it can post rapid growth in absolute shipment and in relative market share metrics, even in difficult markets.

When combining Tablets and PCs together to form the "PC + Tablet" category, Lenovo sold a record 64 million devices, up nearly 18 percent year over year, outpacing this market by more than 13 percentage points. Lenovo posted record total device volume of 114 million, up 37 percent year over year. This was the 4th quarter in a row that Lenovo sold more tablets and smartphones than PCs. These facts illustrate Lenovo's transformation as a leader in Smart Connected Devices.

"The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions," said Yuanqing Yang, Lenovo Chairman and CEO. "Not only did we strengthen our leading position in PCs, but we gained three points in tablets by quadrupling sales volume and became the fastest growing major smartphone company in the world. This demonstrates our capability to manage both businesses that are already mature, as well as those that are shifting to maturity. Meanwhile, we are building new engines for growth in the enterprise and ecosystem. Through the combination of our existing and new businesses, Lenovo offers tremendous value to shareholders today, and our value will be even greater in the future."

Gross profit for the full year was USD 5.06 billion, an increase of 14 percent year-over-year. Gross margin was 13.1 percent, while operating profit for the full fiscal year was USD 1.05 billion, a 32 percent increase year-over-year.

Lenovo had strong fourth quarter revenue of USD 9.4 billion, up 19 percentyear-over-year. The Company achieved pre-tax income of USD 212 millionduring the fourth fiscal quarter, a 28 percentincrease over the same period last year. The Company's gross profit for the fourth fiscal quarter grew to USD 1.24 billion, an increase of 18 percentyear-over-year. Gross margin was 13.3 percent.

Operating profit for the fourth quarter was USD 231 million, up 37 percent year-over-year, while earnings grew 25percent year-over-year to USD 158 million. Compared to an overall PC industry decline of 4.6 percent year-over-year in the fourth fiscal quarter, Lenovo grew shipments at a 15 point premium to the market.

Basic earnings per share in the fourth fiscal quarter was 1.53 US cents, or 11.87 HK cents. Lenovo's Board of Directors declared a final dividend of 2.32 US cents, or 18 HK cents per share for the fiscal year ended March 31, 2014.