©bahar-bostanci-dreamstime.com Electronics Production | April 24, 2012
Celestica profit grows, visibility still limited
Celestica posted a 44 percent rise in its first-quarter net profit.
Celestica's first quarter net profit increased to 43.2 million USD up from $30 million a year ago. The company's revenue fell 6 percent to $1.69 billion. “Celestica delivered a solid first quarter with strong operational execution and cash performance, despite an overall weak demand environment.” said Craig Muhlhauser, President and CEO, Celestica. “Consistent with our strategy, we continued to invest to support the growth of existing and new customers and we made further progress on our revenue diversification. We also returned value to shareholders through our share repurchase program. Although visibility remains limited, customer demand is stabilizing. Our focus continues to be on delivering innovative supply chain solutions to our customers while delivering strong and consistent financial returns for our shareholders.”