Business
Celestica Announces Second Quarter 2014 Financial Results
(All amounts in U.S. dollars. Per share information based on diluted shares outstanding u...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n(All amounts in U.S. dollars.\nPer share information based on diluted\nshares outstanding unless otherwise noted.)\n\n\nTORONTO, July 24, 2014 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global\n leader in the delivery of end-to-end product lifecycle solutions, today\n announced financial results for the second quarter ended June 30, 2014.\n\n\nSecond Quarter 2014 Highlights\n\n\n\nRevenue: $1.472 billion, at the high end of the range of our guidance of\n $1.375 to $1.475 billion (announced April 23, 2014), increased 12%\n sequentially and decreased 2% compared to the second quarter of 2013\n\n\nIFRS EPS: $0.22 per share, compared to $0.15 per share for the second\n quarter of 2013\n\n\nAdjusted EPS (non-IFRS): $0.25 per share, within the range of our\n guidance of $0.20 to $0.26 per share (announced April 23, 2014),\n compared to $0.21 per share for the second quarter of 2013\n\n\nOperating margin (non-IFRS): 3.5%, compared to 2.9% for the second\n quarter of 2013 \n\n\nRepurchased and cancelled 2.6 million subordinate voting shares for\n $27.1 million pursuant to a previously disclosed program share\n repurchase (PSR) under our Normal Course Issuer Bid (NCIB), which we\n pre-funded in February 2014.  Funded another $17.0 million PSR in May\n 2014, pursuant to which 1.4 million subordinate voting shares were\n repurchased for cancellation on July 22, 2014\n\n\nFree cash flow (non-IFRS): $40.9 million, compared to $50.5 million for\n the second quarter of 2013\n\n\nRevenue dollars from our diversified end market grew 11% from the second\n quarter of 2013 to represent 28% of total revenue, up from 25% of total\n revenue for the second quarter of 2013\n\n\n\n\"Celestica delivered a solid second quarter with revenue and adjusted\n earnings per share at the higher end of our guidance driven primarily\n by demand strength from our communications end market.  As a result of\n our revenue growth, strong operational performance and focus on\n continuous improvement, we achieved sequential improvements in\n operating margin, inventory turnover and free cash flow\n generation,\" said Craig Muhlhauser, Celestica's President and Chief\n Executive Officer. \"As we look to the future, we remain confident in\n our strategy and ability to further accelerate our progress by\n leveraging our ...