Thursday, August 19, 2010

Lenovo -- More Info Please!

Lenovo (ADR:LNVGY) left shareholders hanging for more financial details as they announced huge consolidated sales and net profit increases. They neglected to include a balance sheet with the earnings release but made the very big point that they now have net cash reserves of USD $2.2 billion. When you say net that means you have debt somewhere but no explaining on that point.

No breakdown provided on geographic sales. If you claim to be a global player you need to present global numbers. Hard to come to firm conclusions when there is too much fog on the landscape.

Disclosure: No position in any stocks mentioned in this post.