TORONTO, ON – Celestica reported third quarter revenue of $1.53 billion, down 2% year-over-year.
Net earnings for the quarter were $33.4 million, a decrease of 37.7% compared to the third quarter of 2016.
During the period ended Sept. 30, revenue from Communications increased 2% compared to the third quarter of 2016, and represented 45% of total revenue, compared to 43% of total revenue during the same period last year.
Revenue from Advanced Technology Solutions decreased 4% and represented 31% of total revenue, compared to 32% of total revenue for the third quarter of 2016. Revenue from the Enterprise segment decreased 5% and represented 24% of total revenue, compared to 25% of total revenue last year.
"Despite some headwinds driven by dynamic demand and volatility in the market, we remain committed to our strategy," said Rob Mionis, Celestica’s president and CEO. "We are encouraged by our progress in evolving and diversifying our customer and product portfolios across our business, particularly in the aerospace and defense space."
For the nine months ended Sept. 30, revenue was $4.56 billion, down 3.7% year-over-year. Net earnings for the quarter were $90.6 million, a decrease of 21.5%.
For the quarter ending Dec. 31, Celestica anticipates revenue in the range of $1.5 billion to $1.6 billion.