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Lenovo profits improve on cost cuts, mobile breaks even
2016-02-03 09:20:00| Telecompaper Headlines
(Telecompaper) Lenovo reported improved profits in its fiscal third quarter to December following cost cuts, while revenues were still lower on the weak PC market. Revenues fell 8 percent year-on-year to USD 12.91 billion and were down 3 percent after excluding exchange rate effects. Revenue from the PC business dropped 12 percent year-on-year to USD 8.03 billion, and mobile revenues were down 4 percent to USD 3.25 billion, while the enterprise business grew by 8 percent to USD 1.31 billion. The gross margin dipped to 14.6 percent from 14.9 a year ago. Operating profit still rose to USD 379 million from USD 325 million a year earlier, helped by the restructuring, and net profit increased to USD 300 million from USD 253 million. Lenovo said it was on track with its cost-cutting plans and expects to realise total savings of USD 650 million in the second half of this fiscal year and about USD 1.35 billion on an annual basis.
Tags: mobile
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DuPont reports 4Q loss, steps up cost cuts ahead of Dow deal
2016-01-26 18:24:23| Chemicals - Topix.net
DuPont Co., pursuing a merger with Dow Chemical, tipped to a fourth-quarter loss as volumes declined and the strong dollar weighed on results. The company is ratcheting up spending cuts ahead of the deal, announcing it expects about $730 million in cost reductions by the end of the year.
Study says cuts have cost Virginia schools $800 million a year
2016-01-25 18:52:00| American School & University
Cuts made in response to 2008 recession should be restored, the Commonwealth Institute argues read more
Sprint job cuts to cost $150m
2015-12-23 01:00:00| Total Telecom industry news
U.S. telco expects to complete redundancy programme by end of January.
Campbell Soup raises profit forecast as cost cuts boost margins
2015-11-24 16:38:15| Food - Topix.net
Campbell Soup Co reported a better-than-expected quarterly profit and raised its full-year earnings forecast on Tuesday as cost-saving steps start to produce chunkier margins. Cans of Campbell's brand soups are seen at the Safeway store in Wheaton, Maryland February 13, 2015.
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