10:00AM Hongkong, China - Lenovo Group Limited revenue fell 26% and net loss was $264 million.
Lenovo Group Limited, China’s biggest maker of personal computers reported fourth quarter revenues fell 26% to $2.77 billion from $3.73 billion a year ago. Net loss in the quarter was $264 million or $2.98 per diluted share compared to net profit of $140 million or $1.44 per share a year ago.
Sales for the fiscal year 2008 fell 9% to $14.9 billion from $16.4 billion a year ago. Net loss in the year was $226.39 million or $2.56 per diluted share compared to net profit of $484 million or $5.06 per share a year ago.
Lenovo Group Limited, in the last one year traded as high as HK$6.75 in May 2008 and as low as HK$1.32 in January 2009. Based on the yesterday’s closing price of HK$2.80 the company has market cap of HK$25.79 billion. |