TORONTO – Celestica posted first quarter revenue of $1.43 billion, down 4% year-over-year.

Advanced Technology Solutions segment revenue increased 9%, representing 40% of total revenue for the quarter. Connectivity & Cloud Solutions revenue was down 12% year-over-year, representing 60% of total revenue in the first quarter.

Free cash flow was $144.7 million.

"Celestica's first quarter results reflect the near-term challenges we are seeing in some of our key end markets," said Rob Mionis, president and CEO. "Despite this, we improved cash generation and aggressively executed on our share repurchases. During this lower revenue period, we will continue to implement our productivity initiatives in order to more efficiently align cost to current volumes, and to improve the stability and profitability of our business.”

The company recorded $7.1 million in restructuring charges during the quarter.

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