Solid Lenovo 1st Quarter FY16-17 in Face of Industry & Currency Headwinds

• Revenue was US$10.1 billion, down 6% (down 4% excluding foreign exchange impacts) YoY
• Pre-tax income of US$206 million, up 297% YoY
• Net income of US$173 million, up 64% YoY
• Positive developments across every business show transformation strategy's traction
• Disruptive innovation balanced with operational efficiency accelerates Lenovo's transformation into a high-growth, “Device + Cloud” company
• Basic EPS of 1.57 US cents, or 12.19 HK cents

(BUSINESS WIRE)-- Lenovo Group (HKSE: 0992) (PINK SHEETS: LNVGY) today announced results for its first fiscal quarter ended June 30, 2016. Quarterly revenue was US$10.1 billion, a six percent decrease year-over-year (or four percent decrease in constant currency). Quarter-to-quarter, this represented a 10 percent increase. First quarter pre-tax income increased 297 percent year-over-year to US$206 million. Net income increased 64 percent year-over-year to US$173 million. ...

Source : http://me-newswire.net//news/18493/en...