Celestica reports first-quarter profit and revenue up from year ago

OTTAWA – Celestica Inc. (TSX:CLS) reported an improved first-quarter profit compared with a year ago, helped by higher revenue and better operating margins.

The contract electronics manufacturing company, which keeps its books in U.S. dollars, says it earned US$25.6 million or 18 cents per share, up from $19.7 million or 11 cents per share a year ago.

Revenue grew to $1.35 billion, up from nearly $1.30 billion in the first quarter last year.

On an adjusted basis, the company said it earned $37.6 million or 26 cents per share for the quarter, up from an adjusted profit of $33 million or 19 cents per share in the same quarter last year.

Celestica’s operating margin improved to 3.3 per cent, compared with 3.1 per cent in the first three months of 2015.

In its outlook, the company said it expected revenue in the range of $1.4 billion to $1.5 billion for the second quarter. Adjusted earnings per share was expected to be in the range of 25 to 31 cents.