Celestica's Q4 Profit Falls 90% with Loss of RIM
Published: 22 January 2013
by Staff
TORONTO – Contract electronics manufacturer Celestica reported a fall in fourth-quarter profit, as it stopped manufacturing products for its largest customer, Research In Motion.
Net income fell nearly 90% to $7.2 million year-over-year.
Revenue fell 15% to $1.5 billion, consistent with the company's forecast of between $1.43 billion and $1.53 billion.
The company said last June that it would stop making products for RIM by the end of 2012. The BlackBerry maker contributed about 17% of Celestica's revenue in the quarter ending June 2012.
