Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced financial results for the third quarter ended September 30, 2013.
Third Quarter 2013 Highlights
- Revenue: $1.492 billion, within the range of our guidance of $1.425 to $1.525 billion (announced July 26, 2013), decreased 5% compared to the third quarter of 2012
- Revenue up 5% compared to the third quarter of 2012 after excluding revenue from BlackBerry Limited for the third quarter of 2012
- IFRS EPS: $0.31 per share, compared to $0.21 per share for the third quarter of 2012
- Adjusted EPS (non-IFRS): $0.22 per share, within the range of our guidance of $0.17 to $0.23 per share (announced July 26, 2013), compared to $0.26 per share for the third quarter of 2012
- Free cash flow (non-IFRS): $10.4 million, compared to $59.9 million for the third quarter of 2012
- Diversified end market: 26% of total revenue, increased from 21% of total revenue for the third quarter of 2012
- Repurchased 1.7 million subordinate voting shares for cancellation under our Normal Course Issuer Bid (NCIB)
"Celestica delivered a solid third quarter with revenue and adjusted EPS above the midpoint of our guidance range, driven by strong demand in our Communications and Storage end markets," said Craig Muhlhauser, Celestica President and Chief Executive Officer.
"Through our relentless focus on operational excellence and continuous improvement, we have delivered sequential growth in our adjusted operating margin over the last two quarters, and we are targeting further margin expansion in the fourth quarter, despite a challenging demand environment."
"We continue to win new business across all of our end markets and are successfully ramping new programs. We remain focused on disciplined cost management, strong operational execution and increasing our asset velocity to drive customer and shareholder value."