Business
Celestica announces first quarter 2007 financial results
Celestica announces first quarter 2007 financial results.
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n First Quarter Summary\n ---------------------\n\n- Revenue of $1,842 million, down 5% year-over-year\n- GAAP loss of ($0.15) per share compared to a loss of ($0.08) per\n share last year\n- Adjusted net loss of ($0.04) per share compared to adjusted net\n earnings of $0.08 a year ago\n- Q2 2007 revenue guidance of $1.85 - $2.05 billion, adjusted net\n earnings (loss) per share of $(0.03) - $0.05\n\n\n(All amounts in U.S. dollars. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n\nTORONTO, April 25 /CNW/ - Celestica Inc. (NYSE and TSX: CLS), a world\nleader in electronics manufacturing services (EMS), today announced financial\nresults for the first quarter ended March 31, 2007.\n\n\nRevenue was $1,842 million, down 5% from $1,934 million in the first\nquarter of 2006. Net loss on a GAAP basis for the first quarter was\n($34.3) million or ($0.15) per share, compared to GAAP net loss of ($17.4)\nmillion or ($0.08) per share for the same period last year. Included in GAAP\nnet loss for the quarter is $8 million for restructuring charges. For the same\nperiod in 2006, restructuring charges of $17 million were incurred. As\npreviously disclosed, we expect to incur restructuring charges in the range of\n$20 to $40 million in 2007.\n\n\nAdjusted net earnings for the quarter was a loss of ($9.1) million or a\nloss of ($0.04) per share compared to adjusted net earnings of $17.4 million\nor $0.08 per share for the same period last year. Adjusted net earnings is\ndefined as net earnings before amortization of intangible assets, gains or\nlosses on the repurchase of shares and debt, integration costs related to\nacquisitions, option expense, option exchange costs and other charges, net of\ntax and significant deferred tax write-offs (detailed GAAP financial\nstatements and supplementary information related to adjusted net earnings\nappear at the end of this press release). These results compare with the\ncompany's guidance for the first quarter, announced on January 30, 2007, of\nrevenue in the range of $1.7 billion to $1.9 billion and adjusted net loss per\nshare in the range of ($0.15) to ($0.04).\n\n\n"I am encouraged that our aggressive game plan for 2007 is having a\npositive impact on our business performance. We are committed to building on\nthe momentum of our first quarter results...