Celestica Reports Q1 Earnings Up 35% YoY
TORONTO – Celestica Inc. reported first-quarter revenue of $1.52 billion, up 3.4% year-over-year, citing new wins from existing customers.
Net earnings for the quarter were $25.9 million, up nearly 35% year-over-year.
"The year-over-year revenue growth in the first quarter reflects the gradually improving economy, but also highlights the success Celestica has had in winning new business," said Craig Muhlhauser, president and CEO.
For the second quarter, Celestica anticipates revenue in the range of $1.5 billion to $1.6 billion.
Celestica also announced today that Muhlhauser has entered into an automatic securities disposition plan for the sale of up to 1,496,147 subordinate voting shares between May 10, 2010 and April 29, 2011. The shares represent approximately 8% of Muhlhauser's total vested and unvested equity at target performance levels.
