Business
Celestica Announces Third Quarter 2007 Financial Results
Celestica Announces Third Quarter 2007 Financial Results.
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n Third Quarter Summary\n ---------------------\n\n- Revenue of $2,081 million, up 7% sequentially and down 13%\n year-over-year\n- GAAP earnings per share of $0.22 compared to a loss of ($0.19) per\n share last year\n- Adjusted net earnings per share of $0.13 compared to $0.18 per share a\n year ago\n- Operating margin of 2.3%, up 120 basis points from the second quarter\n of 2007\n- Inventory turns of 8.3x compared to 7.3x in the second quarter of 2007\n- Free cash flow of $206 million, cash balance up $206 million\n sequentially to $953 million\n- Q4 revenue guidance of $2.0 - $2.15 billion, adjusted net earnings per\n share of $0.10 - $0.16\n\n(All amounts in U.S. dollars. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n\nTORONTO, Oct. 25 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global\nprovider of innovative electronics manufacturing services (EMS), today\nannounced financial results for the third quarter ended September 30, 2007.\n\n\nRevenue was $2,081 million, down 13% from $2,392 million in the third\nquarter of 2006. Net earnings on a GAAP basis for the third quarter were $51.5\n million or $0.22 per share, compared to GAAP net loss of ($42.1) million or\n($0.19) per share for the same period last year. Included in the third quarter\n2007 earnings are restructuring charges of $2.7 million compared to\nrestructuring charges of $82.4 million in the third quarter last year.\n\n\nAdjusted net earnings for the quarter were $29.3 million or $0.13 per\nshare compared to adjusted net earnings of $40.5 million or $0.18 per share\nfor the same period last year. The term adjusted net earnings is defined as\nnet earnings before amortization of intangible assets, gains or losses on the\nrepurchase of shares and debt, integration costs related to acquisitions,\noption expense, option exchange costs and other charges, net of tax and\nsignificant deferred tax write-offs or recovery (detailed GAAP financial\nstatements and supplementary information related to adjusted net earnings\nappear at the end of this press release). These results compare with the\ncompany's guidance for the third quarter, announced on July 26, 2007, of\nrevenue in the range of $2.0 billion to $2.2 billion and adjusted net earnings\nper share in the range of $0.04 to $0.12.\n\n\nFor the nine months ended September 3...