-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Celestica Announces Fourth Quarter and 2007 Financial Results
February 1, 2008 | PRNewswireEstimated reading time: 2 minutes
Celestica Inc., a global provider of electronics manufacturing services (EMS), today announced financial results for the fourth quarter and year ended December 31, 2007.
Revenue was $2,211 million, down 2% from $2,262 million in the fourth quarter of 2006. Net loss on a GAAP basis for the fourth quarter was ($11.7) million or ($0.05) per share, compared to GAAP net loss of ($60.8) million or ($0.27) per share for the same period last year. Restructuring charges in the quarter were $24 million compared to $59 million for the same period last year. GAAP net loss for the quarter also included a non-cash write-down of long-lived assets of $15 million.
Adjusted net earnings for the quarter were $37.2 million or $0.16 per share compared to $6.5 million or $0.03 per share for the same period last year. Adjusted net earnings (loss) is defined as net earnings before amortization of intangible assets, gains or losses on the repurchase of shares and debt, integration costs related to acquisitions, option expense, option exchange costs and other charges, net of tax and significant deferred tax write-offs (detailed GAAP financial statements and supplementary information related to adjusted net earnings appear at the end of this press release). These results compare with the company's guidance for the fourth quarter, announced on October 25, 2007 of revenue of $2.0 to $2.15 billion and adjusted net earnings per share of $0.10 to $0.16.
For 2007, revenue was $8,070 down 8%, compared to $8,812 million for 2006. Net loss on a GAAP basis was ($13.7) million or ($0.06) per share compared to GAAP net loss of ($150.6) million or ($0.66) per share for last year. Adjusted net earnings for 2007 were $62.3 million or $0.27 per share compared to adjusted net earnings of $93.5 million or $0.41 per share for 2006.
"We are pleased with the strong results our company delivered in the fourth quarter," said Craig Muhlhauser, President and Chief Executive Officer, Celestica. "Since implementing our turnaround plans 12 months ago, we have undergone a major transformation which has resulted in our best ever and industry leading inventory turns, strong margin recovery and an improving trend in returns on invested capital.
We are executing well and our financial position is strong. We know we have more work to do in order to deliver continued improvements in our future performance, but we are encouraged with our financial and operational position as we enter 2008."
Outlook
For the first quarter ending March 31, 2008, the company anticipates revenue to be in the range of $1.7 billion to $1.9 billion, and adjusted net earnings per share to range from $0.06 to $0.11. The topline and bottom line guidance reflects the seasonal impacts in the March quarter for the company's communications, information technology and consumer business.
The company has also determined it will expand its restructuring program by $50 million to $75 million during 2008 in order to further reduce fixed costs and overhead expenses.
Fourth Quarter Results Webcasts
Management will host its quarterly results conference call today at 4:30 p.m. Eastern which can be accessed at www.celestica.com.
About Celestica
Celestica is dedicated to providing innovative electronics manufacturing services that accelerate our customers' success. Through our efficient global manufacturing and supply chain network, we deliver competitive advantage to companies in the computing, communications, consumer, industrial, and aerospace and defense end markets. Our employees share a proud history of proven expertise and creativity that provides our customers with the flexibility to overcome any challenge.
For further information on Celestica, visit its website at http://www.celestica.com.