TORONTO -- The loss of RIM as a major customer set back Celestica's revenue by 19% year-over-year for the period ended March 31.

The contract electronics manufacturer reported revenue of $1.37 billion, within company guidance, and relatively flat after excluding the loss of revenue from RIM from the first quarter 2012. Net income was $10.5 million, down 76% from $43.2 million a year ago.

By segment, Communications rose to 40% of sales from 33% a year ago and Diversified (medical, industrial, defense and aerospace) rose to 24% from 19%. Consumer, dogged by the loss of RIM, fell to 7% from 23%.

Restructuring charges brought about after RIM exited are forecast to be $55 million to $65 million, of which Celestica has taken $51.3 million.

The EMS company guided for second quarter revenue of $1.375 billioon to $1.475 billion.

• Prev
• Next