Celestica's revenues slips in 2014

“Celestica delivered solid operating results in the fourth quarter and throughout 2014, despite a business environment that continued to be challenging in our end markets. In 2014, we successfully rationalized our business portfolio and increased productivity across our network achieving year-over-year growth in operating earnings, return on invested capital and free cash flow, while continuing to return value to our shareholders through share repurchases.” said Craig Muhlhauser, Celestica’s President and Chief Executive Officer. Revenues for the company's diversified end market grew 7% from 2013 to represent 28% of total revenue, up from 25% of total revenue for 2013. The company's operation margin for the full fiscal year of 2014 was 3.5%, compared to 3% for 2013. Free cash flow (non-IFRS) amounted to USD 177.4 million, compared to USD 98.1 million for 2013. “While we are clearly disappointed with the impairment of goodwill related to the acquisitions in our semiconductor business, we continue to believe in the potential of the business, make steady progress and win new programs across a number of customers in this sector,” Craig Muhlhauser continued.