News

Celestica beats 1Q earnings and revenue expectations

TORONTO – TORONTO (AP) _ Celestica Inc. (CLS) on Thursday reported first-quarter earnings of $25.6 million.

The Toronto-based company said it had profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The electronics manufacturing services company posted revenue of $1.35 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.33 billion.

For the current quarter ending in July, Celestica expects its per-share earnings to range from 25 cents to 31 cents.

The company said it expects revenue in the range of $1.4 billion to $1.5 billion for the fiscal second quarter.

Celestica shares have fallen nearly 5 per cent since the beginning of the year. The stock has decreased roughly 9 per cent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLS at http://www.zacks.com/ap/CLS

_____

Keywords: Celestica, Earnings Report