TORONTO – Celestica posted second quarter revenue of $1.7 billion, up 9% year-over-year.

For the quarter ended June 30, net earnings were $16.1 million, down 53.5% compared to the second quarter of 2017.

During the quarter, Celestica completed a reorganization of its business into two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS).

ATS segment revenues in the second quarter increased 16% year-over-year, and represented 33% of total revenue, compared to 31% of total revenue for the second quarter of 2017.

CCS segment revenues increased 6% year-over-year, and represented 67% of total revenue, compared to 69% of total revenue in the same period last year.

“Celestica’s second quarter results reflect strong year-over-year and sequential revenue growth in both our ATS and CCS segments, as well as improvements in our CCS segment margin from the prior quarter, said Rob Mionis, president and CEO. “We are pleased with the ongoing successful execution of our ATS growth strategy, which continues to demonstrate our ability to diversify our revenue base and achieve consistent ATS segment margin performance.

“As the broad-based proliferation of semiconductor usage continues to grow, our industry and customers are operating in a constrained materials environment. While this backdrop is driving near-term working capital and other operational inefficiencies across our businesses, we anticipate our diversification strategy and ongoing cost-reduction initiatives should still enable us to further improve our revenue mix and margins as we progress into the second half of 2018.”

In April, Celestica completed the acquisition of Atrenne for $141.7 million.

For the first six months of 2018, the company reported revenues of $3.2 million, up 5.1% year-over-year. Net earnings were $30.2 million, down 47.1%.

For the third quarter, the firm anticipates revenue in the range of $1.65 billion to $1.75 billion.

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