Electronics Production | April 25, 2011
Celestica reports revenue of USD 1.80<em>bn</em> for 1Q
Revenue for the quarter was USD 1.80 billion, compared to USD 1.52 billion in the first quarter of 2010. IFRS net earnings were USD 30.0 million, compared to IFRS net earnings of USD 28.5 million for the same period last year.
IFRS net earnings for the first quarter of 2011 included a USD 0.11 per share (pre-tax) charge for the following items: stock-based compensation, amortization of intangible assets (excluding computer software) and restructuring charges. This charge was within the range provided on January 27, 2011 of between USD 0.07-0.11 per share. First Quarter Results Compared to Guidance The company's revenue of USD 1.80 billion and adjusted net earnings of USD 0.25 per share for the first quarter of 2011 were within the company's published guidance range, announced on January 27, 2011, of revenue of USD 1.725-1.875 billion and adjusted net earnings per share of USD 0.20-0.26. "Celestica delivered 19% year-over-year revenue growth in the first quarter as we began to realize the impact of new programs launched late last year," said Craig Muhlhauser, President and Chief Executive Officer, Celestica. "We expect to achieve continued revenue growth and operating margin improvement throughout 2011 as these and other new programs ramp to full production volumes and achieve higher levels of productivity and efficiency." Second Quarter of 2011 Outlook For the second quarter ending June 30, 2011, the company anticipates revenue to be in the range of USD 1.75-1.90 billion, and adjusted net earnings per share to be in the range of USD 0.22-0.28. The company expects a negative USD 0.05-0.08 per share (pre-tax) impact on an IFRS basis for the following items: stock-based compensation, amortization of intangible assets (excluding computer software) and restructuring charges as a result of the conversion to IFRS.
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