Lenovo Moves into the Black

From The Register:

"Lenovo bounced back into the black in Q1 – just. But a slump in European sales took the shine off an otherwise reasonable quarter for the world's number three PC maker.

Lenovo turned over $3.5bn for the quarter ended 30 June, from which it squeezed a teeny net profit of $5m. Strip out restructuring charges, and pre-tax income was $34m. Last quarter the company lost $118m.

Sales rocked on its home turf (that's China, not America, which following last year's $1.25bn takeover of IBM's PC business is now Lenovo's second home). Shipments in the quarter grew 30 per cent, propelled by better geographic coverage and soaring notebook sales."