Local News

Lenovo Reports $5 Million First-Quarter Profit

Posted August 4, 2006 7:58 a.m. EDT

— Lenovo Group, which includes the former IBM personal computer division based in Raleigh and the Triangle, reported a first-quarter profit of $5 million on Thursday.

The earnings per share were 6 cents.

Lenovo revenues were up 38 percent to $3.5 billion from the first quarter a year ago. The 2005 total included two quarters of sales from the IBM PC group, which Lenovo acquired as of April 30 2005.

Analysts polled by Reuters had expected Lenovo to report a loss of around $4.5 million.

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