TORONTO -- Celestica Inc. (NYSE: CLS, TSX: CLS/SV), a world leader inelectronics manufacturing services (EMS), today announced financial results for the firstquarter ended March 31, 2005.

Revenue was $2,151 million, up 7% from $2,017 million in the first quarter of 2004. Netloss on a GAAP basis for the first quarter was ($11.6) million or ($0.05) per share,compared to a GAAP net loss for the first quarter of 2004 of ($12.1) million or ($0.06) pershare. Included in these results is $31.9 million in charges associated with the company’spreviously announced restructuring activities.

Adjusted net earnings for the quarter were $33.4 million or $0.15 per share compared to$4.5 million or $0.02 per share for the same period last year. Adjusted net earnings isdefined as net earnings before amortization of intangible assets, gains or losses on therepurchase of shares and debt, integration costs related to acquisitions, option expense andother charges, net of tax (detailed GAAP financial statements and supplementaryinformation related to adjusted net earnings appear at the end of this press release). Theseresults compare with the company’s guidance for the first quarter, announced on January 27,2005, of revenue of $2.0 - $2.225 billion and adjusted net earnings per share of $0.10 to$0.18.

“Results for the quarter were as expected and continue to demonstrate the steady progressbeing made at Celestica,” said Steve Delaney, CEO, Celestica. “Our employees continue toexecute well and are driving efficiency in all areas of the operations. For the remainder ofthe year, our focus will be to further improve our financial returns, complete ourrestructuring initiatives, and grow our revenue base through additional penetration ofdiversified end markets, expansion of our services offering and superior execution for ourcustomers.”

Outlook
For the second quarter ending June 30, 2005, the company anticipates revenue to be in therange of $2.1 billion to $2.35 billion, and adjusted earnings per share ranging from $0.13 to$0.21.

Celestica Inc.