Celestica's Q1 - within guidance

The company's operating margin (non-IFRS) was 3.1%, compared to 2.5% for the first quarter of 2013. Free cash flow (non-IFRS) resulted in a negative USD 16.2 million, compared to positive USD 13.5 million for the first quarter of 2013. “Celestica delivered first quarter revenue at the low end of our guidance range as end market demand continued to be volatile, primarily within our Communications business. Despite the challenges, we delivered operating results in-line with our beginning-of-quarter expectations as a result of our focus on continuous improvement and disciplined cost management,” said Craig Muhlhauser, Celestica President and Chief Executive Officer. “We are encouraged by the progress that we have made in our business with double-digit year-over-year revenue growth in our Diversified and Storage end markets. We are also pleased with our operating margin improvements compared to the first quarter of 2013.” “We expect to build on this momentum during the remainder of 2014 by continuing to focus on making our customers successful, and investing to achieve long-term growth and profitability for Celestica,” Craig Muhlhauser concluded.