Lenovo Group, Ltd.’s (LNVGY.PK) (0992.HK) Sales & Profits are Growing
Sales and profit at PC maker Lenovo Group, Ltd.(LNVGY.OTC) spiked in the quarter ended March 31, fueled by growth in emerging markets. Lenovo, which has headquarters in Morrisville, NC, said it earned $140 million, or $1.44 per diluted share, in its fourth fiscal quarter. That's up from $60 million, or 68 cents a diluted share, a year earlier. Sales increased 13.5 percent, to $3.73 billion, from $3.29 billion. Lenovo, which bought IBM's personal computer business in 2005 and is the largest computer retailer in China, said it increased shipments by 21 percent in the quarter. Its fastest areas of growth…