Business
Celestica announces second quarter financial results
(All amounts in U.S. dollars. Per share information based on diluted shares outstanding unless no...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n(All amounts in U.S. dollars.\nPer share information based on diluted\nshares outstanding unless noted otherwise).\n\n Second Quarter Summary\n ----------------------\n\n- Revenue of $1,402 million, compared to $1,876 million for the same\n period last year\n\n- GAAP earnings of $5.3 million or $0.02 per share, compared to GAAP\n earnings of $39.8 million or $0.17 per share last year\n\n- Adjusted net earnings of $0.11 per share, compared to $0.17 per share\n for the same period last year\n\n- Return on invested capital, including intangibles, of 15.3%, compared\n to 11.8% last year\n\n- Operating margin of 2.7%, compared to 3.0% last year\n\n- Gross margin of 7.3%, compared to 6.7% last year\n\n- Cash flow from operations of $55 million, free cash flow of\n $41 million\n\n- Third quarter of 2009 revenue guidance of $1.425 billion -\n $1.575 billion, adjusted net earnings per share of $0.11 - $0.17\n\n- Company plans $75 - $100 million restructuring program to further\n reduce cost and improve efficiency\n\n\nTORONTO, July 23 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global leader\nin the delivery of end-to-end product lifecycle solutions, today announced\nfinancial results for the second quarter ended June 30, 2009.\n\n\nRevenue for the quarter was $1,402 million, compared to $1,876 million in\nthe second quarter of 2008. GAAP net earnings were $5.3 million, or $0.02 per\nshare, compared to GAAP net earnings of $39.8 million, or $0.17 per share, for\nthe same period last year. The year-over-year change reflects the impact of\nweaker end-market demand, as well as higher restructuring costs in 2009\nassociated with the company's restructuring program announced at the beginning\nof 2008.\n\n\nAdjusted net earnings for the quarter were $25 million, or $0.11 per\nshare, compared to adjusted net earnings of $38.9 million, or $0.17 per share,\nfor the same period last year. The term adjusted net earnings is defined as\nnet earnings before other charges, amortization of intangible assets\n(excluding amortization of computer software), option expense, gains or losses\nrelated to the repurchase of shares and debt, net of tax and significant\ndeferred tax write-offs or recoveries. Detailed GAAP financial statements and\nsupplementary information related to adjusted net earnings appears at the end\nof this press release.\n\n\nThe ...