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© homiel dreamstime.com Electronics Production | April 22, 2016

Celestica reports improved Q1 profit and revenues

Canadian EMS provider Celestica first quarter revenues amounted to USD 1.353 billion – within the company's guidance range of USD 1.3 billion to USD 1.4 billion – a Yoy increase of 4%.
Revenue from the company's diversified end market grew 24% compared to the first quarter of 2015, and represented 34% of total revenue, up from 28% of total revenue for the first quarter of 2015.

Operating margin (non-IFRS): 3.3%, compared to 3.1% for the first quarter of 2015. IFRS net earnings amounted to USD 25.6 million in the first quarter of 2016, up from USD 19.7 million during the same quarter last year.

“Celestica delivered a solid first quarter, led by strength in our Diversified business, which grew by 24% year-over year,” said Rob Mionis, Celestica’s President and Chief Executive Officer. “We also delivered year-over-year revenue growth and improvements in operating margin, return on invested capital and earnings per share, as a result of our focus on continuous improvement and disciplined cost management.”

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