Business
Celestica announces fourth quarter and FY2009 financial results
Celestica announces fourth quarter and FY2009 financial results
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\nJan. 27, 2010 (Canada NewsWire Group) -- TORONTO, Jan. 27 /CNW/ -- Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced financial results for the fourth quarter ended December 31, 2009.Fourth Quarter Results----------------------Revenue for the quarter was $1,664 million, compared to $1,935 million in the fourth quarter of 2008, reflecting primarily the impacts of weaker end-market demand. GAAP net earnings were $31.1 million, or $0.13 per share, compared to GAAP net loss of $822.2 million, or $3.58 per share, for the same period last year. GAAP net loss in the fourth quarter of 2008 was primarily a result of an $850.5 million, or $3.71 per share, write-off for impairment of goodwill.Adjusted net earnings (using the revised definition discussed below) for the quarter were $49.5 million, or $0.21 per share, compared to adjusted net earnings of $65.2 million, or $0.28 per share, for the same period last year. The term adjusted net earnings is a non-GAAP measure defined as net earnings (loss) before other charges, amortization of intangible assets (excluding amortization of computer software), total stock-based compensation including option and restricted stock expense (see \"Adjusted Net Earnings Revised Definition\" below), and gains or losses related to the repurchase of shares and debt, net of tax and significant deferred tax write-offs or recoveries. Detailed GAAP financial statements and supplementary information related to adjusted net earnings, other non-GAAP metrics and the revised definitions appears at the end of this press release. All non-GAAP measures disclosed in this release, including comparables for prior periods, reflect the revised definitions, unless otherwise specified.Fourth Quarter Results Compared to Guidance-------------------------------------------The company's revenue for the fourth quarter of 2009 of $1.66 billion compares to the company's published guidance, announced on October 22, 2009, of revenue of $1.55 billion to $1.70 billion.The company's published guidance on October 22, 2009 for adjusted net earnings per share of $0.14 to $0.20 did not reflect the revised definition for this metric. The guidance for adjusted net earnings per share, using the revised definition, would have been $0.16 to $0.22. The company's adjuste...