Electronics Production | January 31, 2007
Celestica loss rises to US$60.8 million
Revenue was $2,262 million, up 9% from $2,075 million in the fourth quarter of 2005. Net loss on a GAAP basis for the fourth quarter was $60.8 million, compared to GAAP net loss of ($28.2) million for the same period last year.
Celestica Inc. today announced financial results for the fourth quarter and fiscal year ended December 31, 2006. Included in GAAP net loss for the quarter are the following items: a net charge to gross profit of $30 million resulting primarily from a previously announced increase in inventory provisions at the Monterrey, Mexico facility, and a $59 million restructuring charge. For the same period in 2005, restructuring charges of $57 million were incurred. Click here for the full report.