Business
Celestica announces fourth quarter and 2006 fiscal year end financial results
Celestica announces fourth quarter and 2006 fiscal year end financial results.
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n Fourth Quarter Summary\n ----------------------\n\n- Revenue of $2,262 million, up 9% year-over-year\n- GAAP loss of ($0.27) per share compared to a loss of ($0.12) per share\n last year\n- Adjusted net earnings of $0.03 per share compared to $0.13 a year ago\n- Q1 2007 revenue guidance of $1.7 - $1.9 billion, adjusted net loss\n per share of $(0.15) - $(0.04)\n\n(All amounts in U.S. dollars. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n\nTORONTO, Jan. 30 /CNW/ - Celestica Inc. (NYSE and TSX: CLS), a world\nleader in electronics manufacturing services (EMS), today announced financial\nresults for the fourth quarter and fiscal year ended December 31, 2006.\n\n\nRevenue was $2,262 million, up 9% from $2,075 million in the fourth\nquarter of 2005. Net loss on a GAAP basis for the fourth quarter was ($60.8)\n million or ($0.27) per share, compared to GAAP net loss of ($28.2) million or\n($0.12) per share for the same period last year. Included in GAAP net loss for\nthe quarter are the following items: a net charge to gross profit of $30\nmillion resulting primarily from a previously announced increase in inventory\nprovisions at the Monterrey, Mexico facility, and a $59 million restructuring\ncharge. For the same period in 2005, restructuring charges of $57 million were\nincurred.\n\n\nAdjusted net earnings for the quarter were $6.5 million or $0.03 per\nshare compared to $28.8 million or $0.13 per share for the same period last\nyear. Adjusted net earnings is defined as net earnings before amortization of\nintangible assets, gains or losses on the repurchase of shares and debt,\nintegration costs related to acquisitions, option expense, option exchange\ncosts and other charges, net of tax and significant deferred tax write-offs\n(detailed GAAP financial statements and supplementary information related to\nadjusted net earnings appear at the end of this press release). These results\ncompare with the company's updated guidance for the fourth quarter, announced\non December 12, 2006, of revenue of $2.20 to $2.25 billion and adjusted net\nearnings per share of $0.00 to $0.06.\n\n\nFor 2006, revenue was $8,812 million, up 4%, compared to $8,471 million\nfor 2005. Net loss on a GAAP basis was ($150.6) million or ($0.66) per share\ncompared to net loss of ($46.8) million or ($0.21) per s...