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Electronics Production | April 22, 2010

New wins drive Celestica sales

Celestica announces first quarter financial results. Revenue for the quarter was $1,518 million, compared to $1,469 million in the first quarter of 2009.
This reflects primarily new wins from existing customers and an improving economic environment, partially offset by program declines. Adjusted net earnings for the quarter were $43.1 million, or $0.19 per share, compared to adjusted net earnings of $33.6 million, or $0.15 per share, for the same period last year. The term adjusted net earnings is a non-GAAP measure defined as net earnings before other charges, amortization of intangible assets (excluding amortization of computer software), total stock-based compensation including option and restricted stock expense, and gains or losses related to the repurchase of shares and debt, net of tax and significant deferred tax write-offs or recoveries. Detailed GAAP financial statements and supplementary information related to adjusted net earnings and other non-GAAP measures appear at the end of this press release.

"Celestica's first quarter results demonstrate our ability to deliver both strong and consistent returns and profitability," said Craig Muhlhauser, President & CEO. "The year-over-year revenue growth in the first quarter reflects the gradually improving economy, but also highlights the success Celestica has had in winning new business. We believe Celestica is well positioned to continue to capitalize on a number of new opportunities that are emerging globally across a broad range of markets and customers."

For the second quarter ending June 30, 2010, the company anticipates revenue to be in the range of $1.5 billion to $1.6 billion, and adjusted net earnings per share to be in the range of $0.19 to $0.23.
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