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© alphaspirit-dreamstime.com Electronics Production | July 29, 2013

Celestica manages without BlackBerry

Celestica was facing big changes as one of their biggest customers BlackBerry (formerly Research In Motion) ended their manufacturing contract with the company - but as it seems, Celestica manages without BlackBerry
“Celestica delivered a solid second quarter with revenue and adjusted EPS above our guidance range. We generated strong free cash flow and improved our return on invested capital, driven by stronger than expected demand in our communications end market,” said Craig Muhlhauser, Celestica President and Chief Executive Officer.

Highlights
  • Revenue: $1.495 billion, above the guidance of $1.375 to $1.475 billion (announced in April 2013), decreased 14% compared to the second quarter of 2012
  • Revenue up 9% compared to the first quarter of 2013, and up 3% compared to the second quarter of 2012 (after excluding revenue from BlackBerry Limited for the second quarter of 2012)
  • Free cash flow (non-IFRS): $50.5 million, compared to $16.9 million for the second quarter of 2012
  • Diversified end market: 25% of total revenue, increased from 19% of total revenue for the second quarter of 2012

“Despite the challenging economic environment, we are projecting continued growth in our diversified end market for the third quarter. We continue to target improvements in quality, profitability, free cash flow, and return on invested capital through our focus on operational excellence and making our customers successful,” Craig Muhlhauser adds.

Third Quarter 2013 Outlook

For the third quarter ending September 30, 2013, the company anticipate revenue to be in the range of $1.425 to $1.525 billion.
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