Lenovo's first quarter net profit of 108 million dollars rose 98%

Sina Science and technology news on the morning of August 18, Lenovo Group released its first quarterly financial report for fiscal year 2011-2012 today.　　Earnings show that Lenovo Group in the first quarter to achieve sales of 5.92 billion U.S. dollars, compared with the same period last year, 5.15 billion U.S. dollar growth of 15%, net profit of 108 million U.S. dollars, compared with the same period last year, 54.86 million dollars year-on-year growth of 98%. The main results for the three months ended June 30, 2011, Lenovo Group sales of about 5.92 billion U.S. dollars. During the period, equity holders should account for about $108 million trillion, an increase of $53 million over last year. Gross margins rose to 12.5% in the period from 10.2% last year. Balance sheet status remains strong, with bank deposits, cash and cash equivalents increasing by 902 million dollars compared with March 31, 2011.　　The basic earnings per share and diluted earnings per share were 1.11 cents and 1.08 cents respectively, representing an increase of 0.54 cents and 0.54 cents in the same period last year. For the three months ended June 30, 2011, overall operating costs have increased overall over the same period last year.　　The cost of employee benefits increased by 23.6% over the same period last year, as the number of staff and performance pay increased.　　Sales and distribution costs during the period of sales and distribution costs increased by 57.4% over a year earlier, mainly due to Lenovo Group's advocacy, brand promotion and marketing activities increased by 66 million U.S. dollars and employee benefits costs increased by 50 million dollars. The administrative costs of the Lenovo Group were also increased by 8.3% over the same period last year.　　The increase was mainly attributable to an increase of $10 million in employee benefit costs, as well as a 13 million dollar increase in professional costs associated with the merger and acquisition of projects, some of which were offset by $10 million in contract service savings. Research and development costs increased by 11.4% over the same period last year.　　The increase was mainly attributable to an increase of $10 million in employee benefit costs and a 6 million dollar increase in the professional costs associated with product development, some of which were offset by a savings of $9 million from the reallocation of research-related costs to product development. Human resources as of June 30, 2011, Lenovo Group employs 22,794 employees. Lenovo Group employs salary policies, bonuses and long-term incentive plans based on performance and employee performance. Lenovo Group also provides insurance, medical and pension benefits to ensure competitiveness.