Jeddah — Lenovo Group registered an increase of 21 percent in revenue to $11.3 billion year-over-year. If excluding the exchange rate impact, the growth rate would be 28 percent. Lenovo's operational excellence delivered expectation-beating quarterly net income of $100 million, even after $94 million non-cash M&A related accounting charges. The M&A investments and strong organic growth created a more diverse business for Lenovo with smartphones, tablets, servers and other services contributing 37 percent of revenues in the quarter compared to 17 percent the year before. At the same time, Lenovo continued to deliver exceptional performance in PCs this year with a record 60 million shipments, and strong profitability, all while maintaining its number one position in the market for the eighth consecutive quarter. For the full year, Lenovo had record revenue of $46.3 billion, up 20 percent year over year. In the same period its pre-tax income before non-cash, M&A-related accounting charges of $168 million, was $1.14 billion, up 12 percent year over year. Similarly, net income before non-cash, M&A-related accounting charges was $997 million, up 22 percent year-over-year. Gross profit for the full year was $6.7 billion, an increase of 32 percent year-over-year. Gross margin was 14.4 percent, while operating profit for the full fiscal year was $1.1 billion, a five percent increase year-over-year. The company's gross profit for the fourth fiscal quarter grew to $1.8 billion, an increase of 43 percent. Gross margin was 15.7 percent. Operating profit was $127 million, and pre-tax income was $104 million during the fourth fiscal quarter. Basic earnings per share in the fourth fiscal quarter was 0.91 US cents, or 7.06 HK cents. Lenovo's Board of Directors declared a final dividend of 2.64 US cents, or 20.5 HK cents per share for the fiscal year ended March 31, 2015. — SG
