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Celestica's Q3 Results Meet Guidance; Revenue at $1.41B
October 22, 2015 | Celestica Inc.Estimated reading time: 2 minutes
Celestica Inc., a global leader in the delivery of end-to-end product lifecycle solutions, today announced financial results for the third quarter ended September 30, 2015.
Third Quarter 2015 Highlights
- Revenue: $1.41 billion, within our guidance range of $1.4 billion to $1.5 billion (announced July 23, 2015), relatively flat compared to the third quarter of 2014
- Revenue from our diversified end market represented 30% of total revenue, compared to 29% for the third quarter of 2014
- Operating margin (non-IFRS): 3.8%, compared to 3.9% for the third quarter of 2014
- Adjusted EPS (non-IFRS): $0.22 per share ($0.30 per share had we excluded an $0.08 per share income tax expense resulting from taxable foreign exchange impacts), compared to $0.26 per share for the third quarter of 2014. Had we excluded this income tax expense of $0.08 per share, adjusted EPS (non-IFRS) would have been within our guidance range of $0.28 to $0.34 per share (announced July 23, 2015).
- IFRS EPS: $0.08 per share (negatively impacted by the $0.08 per share income tax expense discussed above), compared to $0.19 per share for the third quarter of 2014
- ROIC (non-IFRS): 20.9%, compared to 21.3% for the third quarter of 2014
- Free cash flow (non-IFRS): $12.8 million, compared to $92.7 million for the third quarter of 2014
“Despite a challenging end market environment, Celestica delivered higher operating margin and return on invested capital compared to the second quarter of this year, based on our ongoing focus on continuous improvement and disciplined cost management,” said Robert Mionis, Celestica’s President and Chief Executive Officer.
“Overall, we remain focused on our strategic objectives of expanding our business into more profitable markets leveraging our leadership in higher reliability applications, as well as driving continued improvements across our entire business in the areas of quality, profitability and free cash flow generation.”
Fourth Quarter 2015 Outlook
For the fourth quarter ending December 31, 2015, we anticipate revenue to be in the range of $1.375 billion to $1.475 billion, and non-IFRS adjusted net earnings per share to be in the range of $0.27 to $0.33. We expect a negative $0.06 to $0.12 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation expense and amortization of intangible assets (excluding computer software).
“The new microelectronics laboratory complements our existing capabilities in Toronto including our materials laboratory and surface mount technology manufacturing,” added Blakney. “As we look to the future, microelectronics will play an increasing role in technology, and with this new capability, we can help our customers to keep up with the pace of change and stay competitive in their markets.”
About Celestica
Celestica is dedicated to delivering end-to-end product lifecycle solutions to drive our customers’ success. Through our simplified global operations network and information technology platform, we are solid partners who deliver informed, flexible solutions that enable our customers to succeed in the markets they serve. Committed to providing a truly differentiated customer experience, our agile and adaptive employees share a proud history of demonstrated expertise and creativity that provides our customers with the ability to overcome complex challenges.
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