Lenovo Group, the world's fourth largest PC maker, said Thursday that earnings for its latest quarter rose 133 percent as strong sales in China and Europe offset slower growth in the United States.

Profit totaled $140 million (89 million euros) for the three months ending March 31, the Beijing-based company said. Total revenues rose 13.5 percent to $3.7 billion (2.3 billion euros).

Lenovo said it was the company's eighth straight quarter of profit growth.

"We've made some fantastic progress," Chief Executive William J. Amelio said at a news conference. He said the company _ which includes the former IBM Corp. personal computer unit acquired in 2006 _ was improving brand awareness, expanding retail sales and cutting costs in production.

Amelio said the company will focus on developing countries.

"You'll see continued growth in the emerging markets. That's essentially targeted for the majority of the growth," he said.

Sales in China, which accounts for about one-third of Lenovo revenues, rose 18 percent to $1.29 billion ($820 million euros) in the quarter. Sales in Europe, Africa and the Middle East were up 30 percent at $879 million (558 million euros), the company said.

Sales in the United States and the rest of the Americas rose just 9 percent to $1 billion (670 million euros), Lenovo said.

"I'm confident with Lenovo's ability to execute in whatever the economy throws at us, but I am very cautious about what the global economy looks like," Amelio. said. "The fact is, there are definitely gray clouds in the sky." Continued...