-
- 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's Q2 Revenue of $1.42B within Guidance
July 24, 2015 | CelesticaEstimated reading time: 3 minutes
Celestica Inc., a global leader in the delivery of end-to-end product lifecycle solutions, today announced financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Revenue: $1.42 billion, within our guidance range of $1.35 billion to $1.45 billion (announced April 21, 2015), increased 9% sequentially and decreased 4% compared to the second quarter of 2014
- Revenue from our diversified end market represented 28% of total revenue, consistent with the second quarter of 2014
- Operating margin (non-IFRS): 3.4%, compared to 3.5% for the second quarter of 2014
- Adjusted EPS (non-IFRS): $0.25 per share, within our guidance range of $0.20 to $0.26 per share (announced April 21, 2015), consistent with the second quarter of 2014
- IFRS EPS: $0.14 per share, compared to $0.22 per share for the second quarter of 2014
- ROIC (non-IFRS): 19.6%, compared to 19.0% for the second quarter of 2014
- Repurchased and cancelled 26.3 million subordinate voting shares for $350.0 million under a substantial issuer bid, representing approximately 15.5% of the total multiple voting shares and subordinate voting shares issued and outstanding prior to its completion
- Free cash flow (non-IFRS): $2.4 million, compared to $40.9 million for the second quarter of 2014
“Celestica delivered a solid second quarter with revenue and adjusted earnings per share above the midpoint of our guidance range, driven primarily by strength in our communications, storage and semiconductor markets as compared to last quarter,” said Craig Muhlhauser, Celestica’s President and Chief Executive Officer. “Through our continued focus on profitable revenue growth, operational excellence and continuous improvement, we also achieved sequential improvements in operating margin and return on invested capital.”
“As we look ahead to the second half of the year, we remain focused on diversification and accelerating our growth, strong operational execution, disciplined cost management and increasing our asset velocity to drive customer and shareholder value.”
Substantial Issuer Bid (SIB)
During the second quarter of 2015, we launched and completed a $350 million SIB, pursuant to which we repurchased and cancelled approximately 26.3 million subordinate voting shares at a price of $13.30 per share, representing approximately 15.5% of the total multiple voting shares and subordinate voting shares issued and outstanding prior to completion of the SIB. We funded the SIB using a combination of the net proceeds of a new $250 million non-revolving term loan (the Term Loan), $25.0 million drawn on our revolving credit facility, and available cash on hand.
Sale Agreement with respect to Real Property in Toronto
We also announced today that we have entered into an agreement to sell our real property located in Toronto, Ontario, which includes the site of Celestica's corporate headquarters and its Toronto manufacturing operations, to an entity to be formed by a consortium of three real estate developers. Subject to completion of the transaction, the agreed purchase price is approximately $137 million Canadian dollars ($110.7 million at period-end exchange rates), exclusive of taxes and subject to adjustment. The completion of the transaction is subject to various conditions, including municipal approvals and is anticipated to occur within approximately two years.
Third Quarter 2015 Outlook
For the third quarter ending September 30, 2015, we anticipate revenue to be in the range of $1.4 billion to $1.5 billion, and non-IFRS adjusted net earnings per share to be in the range of $0.28 to $0.34. We expect a negative $0.10 to $0.16 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation expense, amortization of intangible assets (excluding computer software) and restructuring charges.
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. For further information about Celestica, visit our website at www.celestica.com. Our securities filings can also be accessed at www.sedar.com and www.sec.gov.
Suggested Items
NOTE Releases Interim Report for January-March 2024.
04/23/2024 | NOTENOTE has announced its interim report for January-March 2024.
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Aspocomp’s Q1 Net Sales and Operating Result Decreased YoY
04/18/2024 | AspocompInflation and interest rates, weak economic development, the uncertainties posed by Russia’s war of aggression and the situation in the Middle East, and global trade policy tensions will affect the operating environment of Aspocomp and its customers in the 2024 fiscal year.
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
Europe’s IT, Business Services Sector on the Rebound in Q1: ISG Index
04/15/2024 | BUSINESS WIREEurope’s demand for IT and business services in the first quarter rose for the first time in a year, powered by growth from the banking, financial services and insurance (BFSI) sector, according to the latest state-of-the-industry report from Information Services Group (ISG), a leading global technology research and advisory firm.