Celestica Q3 Profits Down 38%
Published: 23 October 2008
by Staff
TORONTO – Celestica Inc. reported third-quarter revenue was $2.03 billion, down 2.4% year-over-year, in line with company guidance.
Net earnings were $32.1 million, down nearly 38% compared to the same quarter last year.
For the nine months ended Sept. 30, revenue was $5.74 billion, down about 20% compared to the same period in 2007.
Net earnings were $101.7 million compared to a net loss of $2 million for the same nine-month period last year.
"Celestica delivered strong results in the third quarter driven predominately by our operating improvements in Mexico and Europe," said Craig Muhlhauser, president and CEO of Celestica.
The company anticipates fourth-quarter revenue in the range of $1.75 billion to $2 billion.
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