Celestica Announces Q2 Results

Celestica announces second-quarter financial results

July 21, 2005

2 Min Read

TORONTO -- Celestica Inc. (NYSE: CLS, TSX: CLS/SV), a world leader inelectronics manufacturing services (EMS), today announced financial results for the secondquarter ended June 30, 2005.

Revenue was $2,251 million, compared to $2,314 million in the second quarter of 2004. Netearnings on a GAAP basis for the second quarter were $12.6 million or $0.06 per share,compared to a GAAP net loss for the second quarter of 2004 of ($7.9) million or ($0.04) pershare. Included in GAAP earnings for the quarter is a recovery of $13.8 million or $0.06 pershare for amounts relating to a customer that were previously provided for in the fourthquarter of 2004.

Adjusted net earnings for the quarter were $39.8 million or $0.17 per share compared to$22.8 million or $0.10 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, othercharges net of tax (detailed GAAP financial statements and supplementary informationrelated to adjusted net earnings appear at the end of this press release). These resultscompare with the company’s guidance for the second quarter, announced on April 21, 2005,of revenue of $2.1 - $2.35 billion and adjusted net earnings per share of $0.13 to $0.21.For the six months ended June 30, 2005, revenue increased to $4,401 million compared to$4,331 million for the same period in 2004. Net earnings on a GAAP basis were $1.0million or $0.00 per share compared to a net loss of ($20.0) million or ($0.09) per share lastyear. Adjusted net earnings for the first six months were $73.2 million or $0.32 per sharecompared to adjusted net earnings of $27.3 million or $0.12 per share in 2004.

“Our second quarter results continue to show the benefits from reducing excess capacity andimplementing efficiency initiatives across the organization,” said Steve Delaney, CEO,Celestica. “While the second quarter environment was stable, third quarter demand is rollingup weaker than the seasonality we would typically experience. Despite the challenges ofsoftening demand in some of our largest segments, we will continue to aggressively focuson expanding margins and returns on capital for the balance of the year.”

Celestica Inc.

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