Celestica Turns In Strong Q2
TORONTO -- Celestica reported second-quarter net profits more than tripled over last year to $45.7 million, but said economic volatility would continue to affect customer demand.
For the period ended June 30, revenue rose 15% year-over-year to $1.83 billion.
"Celestica had strong financial results in the second quarter as we delivered robust margin expansion and we achieved 15% year-over-year revenue growth," said Craig Muhlhauser, president and chief executive. "New business awards from 2010 are contributing to our revenue growth and operating margins are benefiting from a favorable revenue mix and higher operating efficiencies from recently ramped programs."
The electronics manufacturing services company guided for third quarter revenue of $1.725 billion to $1.875 billion.
At quarter's end, Celestica finalized its acquisition of the semiconductor equipment contract manufacturing operations of Brooks Automation for $78 million in cash. The company also reported $5.3 million in restructuring charges due to staffing reductions and related expenses.
