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Electronics Production | December 13, 2006

Celestica is lowering guidance

Celestica Inc. has announced an update to its financial guidance for the fourth quarter ending December 31, 2006.

Based on its current estimates, the company now expects revenue in the range of $2.20 to $2.25 billion, and adjusted net earnings per share of $0.00 to $0.06. The company's previous guidance for the fourth quarter, which was provided on October 26, 2006, was for revenue of $2.25 to $2.45 billion and $0.15 to $0.23 adjusted net earnings per share. The revision in revenue is due to recent demand reductions from several customers. Included in the revised adjusted net earnings per share is an expected net charge of between $0.08 to $0.12 resulting predominantly from an increase in inventory provisions at the Monterrey, Mexico facility. The company will hold a conference call today, Tuesday, December 12 at 9:30 am Eastern to discuss the updated guidance.
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