Celestica sees Q3 profit drop

IFRS net earnings amounted to USD 10.9 million in the third quarter of 2015, compared to USD 34.4 million during the same quarter last year. Operating margin (non-IFRS) was 3.8%, compared to 3.9% for the third quarter of 2014 “Despite a challenging end market environment, Celestica delivered higher operating margin and return on invested capital compared to the second quarter of this year, based on our ongoing focus on continuous improvement and disciplined cost management,” said Robert Mionis, Celestica’s President and Chief Executive Officer. “Overall, we remain focused on our strategic objectives of expanding our business into more profitable markets leveraging our leadership in higher reliability applications, as well as driving continued improvements across our entire business in the areas of quality, profitability and free cash flow generation,” adds Mionis.