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Celestica announces first quarter 2008 financial results
First Quarter Summary --------------------- - Revenue of $1,836 million compared to $1,842 millio...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n First Quarter Summary\n ---------------------\n\n- Revenue of $1,836 million compared to $1,842 million for the same\n period last year\n- GAAP earnings of $0.13 per share compared to a loss of ($0.15) per\n share last year\n- Adjusted net earnings of $0.15 per share compared to a loss of\n ($0.04) per share a year ago\n- Operating margin of 2.7%, gross margin of 6.3%\n- Inventory turnover of 8.6 turns\n- Return on invested capital including intangibles of 10.5% compared to\n 1.1% last year\n- Free cash flow of $33 million, cash balance of $1.149 billion\n- Q2/08 revenue guidance $1.8 - $2.0 billion, adjusted net earnings per\n share of $0.13 - $0.19\n\n(All amounts in U.S. dollars. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n\nTORONTO, April 24 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global\nprovider of electronics manufacturing services (EMS), today announced\nfinancial results for the first quarter ended March 31, 2008.\n\n\nRevenue was $1,836 million compared to $1,842 million in the first\nquarter of 2007. Net earnings on a GAAP basis for the first quarter was\n$29.8 million or $0.13 per share, compared to GAAP net loss of ($34.3) million\nor ($0.15) per share for the same period last year. Restructuring charges in\nthe quarter were $3.3 million compared to $8.0 million for the same period\nlast year.\n\n\nAdjusted net earnings for the quarter were $35.4 million or $0.15 per\nshare, compared to adjusted net loss of ($9.1) million or ($0.04) per share\nfor the same period last year. Adjusted net earnings (loss) is defined as net\nearnings before other charges, amortization of intangible assets, integration\ncosts related to acquisitions, option expense, option exchange costs and gains\nor losses on the repurchase of shares and debt, net of tax and significant\ndeferred tax write-offs or recovery (detailed GAAP financial statements and\nsupplementary information related to adjusted net earnings appear at the end\nof this press release).\n\n\nThese results compare with the company's guidance for the first quarter,\nannounced on January 31, 2008 of revenue of $1.7 billion to $1.9 billion and\nadjusted net earnings per share of $0.06 to $0.11.\n\n\n"Celestica delivered another strong performance in the first quarter of\n2008 in all of its key financial and operating met...