TORONTO – Celestica reported second quarter revenue ended June 30 of $1.42 billion, down 4% year-over-year, and up 9% sequentially.

The electronics manufacturer posted second quarter net earnings of $24.2 million, down 40.8% compared to the same quarter last year.

For the first six months of 2015, Celestica’s revenue came in at $2.72 billion, down 2.5% year-over-year. Net earnings for the six-month
period were $43.9 million, down 43.9% compared to the same period in 2014.

"Celestica delivered a solid second quarter with revenue and adjusted earnings per share above the midpoint of our guidance range, driven primarily by strength in our communications, storage and semiconductor markets, as compared to last quarter," said Craig Muhlhauser, Celestica's president and CEO.

The firm has entered into an agreement to sell property in Toronto, including its corporate headquarters and its Toronto manufacturing operations, to an entity to be formed by a consortium of three real estate developers.

Subject to completion of the transaction, the agreed purchase price is approximately $105 million, exclusive of taxes and subject to adjustment.

For the third quarter ending Sept. 30, Celestica anticipates revenue in the range of $1.4 billion to $1.5 billion.

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