Toronto -- July 22 -- Celestica Inc. reported June quarter revenue rose 45% over last year, to $2.3 billion, in line with guidance. Sequentially, revenue grew 15%, though the company remained in the red.

The top tier EMS company showed a GAAP net loss of $25.5 million, including a pretax charge of $51.5 million for restructuring. Celestica lost $39.8 million last year.

"Stable end markets, improved operating efficiency and benefits from cost cutting have allowed Celestica to show improvements in its second quarter results," said Steve Delaney, CEO, in a statement. "Our revenue is growing, our margins are improving, our European and Americas operations are profitable again and we are starting to show positive earnings momentum.

Celestica guided for third-quarter sales of $2.25 billion to $2.40 billion and adjusted earnings per share of 11 to 17 cents.

Celestica is continuing its acquisition of another major EMS firm, MSL. In a research note, Deutsche Bank forecast Celestica's internal restructuring, new program ramps and the acquisition of MSL would drive continued sequential operating improvement in the September quarter.