Business
Celestica announces third quarter 2008 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. Per share information based on diluted\nshares outstanding unless noted otherwise.)\n\n Third Quarter Summary\n ---------------------\n\n- Revenue of $2,031 million, up 8% sequentially, and compared to\n $2,081 million for the same period last year\n- GAAP earnings of $0.14 per share compared to $0.22 per share last\n year\n- Adjusted net earnings of $0.24 per share compared to $0.13 per share\n last year driven primarily by improved operating earnings and a lower\n adjusted tax rate\n- Operating margin of 3.2% compared to 2.3% last year\n- Gross margin of 7.4% compared to 5.8% last year\n- Inventory turnover of 9.1 turns compared to 8.3 turns last year\n- Return on invested capital including intangibles of 13.9% compared to\n 9.1% last year\n- Third quarter free cash flow of $57 million, cash balance of\n $1.26 billion\n- Fourth quarter revenue guidance of $1.75 billion - $2.0 billion,\n adjusted net earnings per share of $0.16 - $0.24\n\n\nTORONTO, Oct. 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 third quarter ended September 30, 2008.\n\n\nRevenue was $2,031 million compared to $2,081 million in the third\nquarter of 2007. Net earnings on a GAAP basis for the third quarter were\n$32.1 million or $0.14 per share, compared to GAAP net earnings of\n$51.5 million or $0.22 per share for the same period last year. The\nyear-over-year decline in GAAP EPS was primarily impacted by lower tax\nrecoveries and higher restructuring charges, offset partially by improved\noperating earnings.\n\n\nAdjusted net earnings for the quarter were $54.3 million or $0.24 per\nshare, compared to adjusted net earnings of $29.3 million or $0.13 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,\nintegration costs related to acquisitions, option expense, option exchange\ncosts and gains or losses on the repurchase of shares and debt, 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).\n\n\nThese results compare with the company's guidance for ...