Business
Celestica Announces Fourth Quarter and 2007 Financial Results
Fourth Quarter Summary ---------------------- - Revenue of $2,211 million, down 2% year-over-year...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n Fourth Quarter Summary\n ----------------------\n\n- Revenue of $2,211 million, down 2% year-over-year, up 6% sequentially\n- GAAP loss of ($0.05) per share compared to a loss of ($0.27) per\n share last year\n- Adjusted net earnings of $0.16 per share compared to $0.03 per share\n a year ago\n- Operating margin of 2.7%, gross margin of 6.0%\n- Inventory turns of 9.7x, highest in company's history\n- Return on invested capital of 11.9%, highest quarterly return since\n 2001\n- Fourth quarter free cash flow of $167 million\n- Cash increases $164 million to $1.117 billion\n- Q1/08 revenue guidance $1.7 - $1.9 billion, adjusted net earnings per\n share of $0.06 - $0.11\n\n(All amounts in U.S. dollars. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n\nTORONTO, Jan. 31 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global\nprovider of electronics manufacturing services (EMS), today announced\nfinancial results for the fourth quarter and year ended December 31, 2007.\n\n\nRevenue was $2,211 million, down 2% from $2,262 million in the fourth\nquarter of 2006. Net loss on a GAAP basis for the fourth quarter was\n($11.7) million or ($0.05) per share, compared to GAAP net loss of ($60.8)\nmillion or ($0.27) per share for the same period last year. Restructuring\ncharges in the quarter were $24 million compared to $59 million for the same\nperiod last year. GAAP net loss for the quarter also included a non-cash\nwrite-down of long-lived assets of $15 million.\n\n\nAdjusted net earnings for the quarter were $37.2 million or $0.16 per\nshare compared to $6.5 million or $0.03 per share for the same period last\nyear. Adjusted net earnings (loss) is defined as net earnings before\namortization of intangible assets, gains or losses on the repurchase of shares\nand debt, integration costs related to acquisitions, option expense, option\nexchange costs and other charges, net of tax and significant deferred tax\nwrite-offs (detailed GAAP financial statements and supplementary information\nrelated to adjusted net earnings appear at the end of this press release).\nThese results compare with the company's guidance for the fourth quarter,\nannounced on October 25, 2007 of revenue of $2.0 to $2.15 billion and adjusted\nnet earnings per share of $0.10 to $0.16.\n\n\nFor 2007, revenue was $8,070 down 8%, compa...