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© roza-dreamstime.com Electronics Production | January 31, 2014

Celestica's profit tripled YoY

Celestica managed to build up momentum – despite a challenging business environment – during the fiscal year of 2013. Now the company look to keep the ball rolling and to continue to improve its profitability.
"Celestica delivered fourth quarter revenue and operating margin in-line with our guidance," said Craig Muhlhauser, Celestica President and Chief Executive Officer. "We continued to improve profitability throughout 2013, despite a challenging business environment. We also delivered value to our shareholders through share repurchases, while continuing to make the necessary investments in support of our long-term strategy."

IFRS net earnings amounted to USD 22.1 million during the company's 4Q13, up from USD 7.2 million during the same period in 2012. On a yearly basis the company recorded IFRS net earnings of USD 118 million during 2013, up from USD 117.7 million during 2012.

"We look forward to building on this positive momentum throughout 2014, with a focus on achieving profitable growth in our target markets and accelerating our time to value for our customers and shareholders."

Fourth Quarter 2013 Highlights
  • Revenue: USD 1.437 billion, within the range of our guidance of USD 1.4 to USD 1.5 billion, decreased 4% compared to the fourth quarter of 2012
  • Free cash flow (non-IFRS): USD 23.7 million, compared to USD 90.2 million for the fourth quarter of 2012
  • Diversified end market: 27% of total revenue, increased from 23% of total revenue for the fourth quarter of 2012

Fiscal Year 2013 Highlights
  • Revenue: USD 5.8 billion, down 11% from 2012
  • Revenue increased 1% on a non-IFRS basis compared to 2012 after excluding revenue from BlackBerry Limited for 2012
  • Free cash flow (non-IFRS): USD 98.1 million, compared to USD 211.4 million for 2012
  • Diversified end market: 25% of total revenue, increased from 20% of total revenue for 2012

First Quarter 2014 Outlook

For the first quarter ending March 31, 2014, we anticipate revenue to be in the range of USD 1.3 billion to USD 1.4 billion.

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