TORONTO – Celestica reported third quarter revenue ended Sept. 30 of $1.55 billion, at the high end of guidance, up 10% year-over-year and 5% sequentially.

Net earnings for the quarter were $53.6 million, up 392% year-over-year.

Revenue from the firm’s diversified end market grew 9% compared to 2015, and represented 30% of total revenue for the third quarter of 2015 and 2016.

For the nine months ended Sept. 30, Celestica posted net revenue of $4.4 billion, an increase of 6.5% compared to the same period last year. Net earnings were $115.4 million, up 111%.

"Celestica delivered 10% year-over-year revenue growth in the third quarter, with adjusted operating margin above the mid-point of our guidance," said Rob Mionis, Celestica's president and CEO. "We also achieved our fourth straight quarter of year-over-year revenue growth, and generated $100 million of free cash flow, with year-over-year improvements in return on invested capital and earnings per share."

Celestica has entered into an asset purchase agreement with Karel Manufacturing, a Mexico-based manufacturing services company that specializes in wire harness assembly, machining, sheet metal fabrication, and systems integration of aerospace products. The transaction is expected to close in the fourth quarter.

For the fourth quarter ending Dec. 31, Celestica anticipates revenue in the range of $1.5 billion to $1.6 billion.