Celestica Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015
January 20, 2015 at 04:05 pm EST
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Celestica Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $1,424.3 million compared to $1,436.7 million a year ago. Earnings from operations were of $6.7 million compared to $21.6 million a year ago. Earnings before income taxes were of $5.7 million compared to $20.8 million a year ago. Net loss was $4.4 million or $0.03 per diluted share compared to net earnings of $22.1 million or $0.12 per share a year ago. Net cash provided by operating activities was of $78 million compared to $34.1 million a year ago. Purchase of computer software and property, plant and equipment was of $16.6 million compared to $11.1 million a year ago. Adjusted net earnings were of $40.3 million or $0.23 per share compared to $44.4 million or $0.24 per share a year ago.
For the year, the company reported revenue of $5,631.3 million compared to $5,796.1 million a year ago. Earnings from operations were of $127.7 million compared to $133.6 million a year ago. Earnings before income taxes were of $124.6 million compared to $130.7 million a year ago. Net earnings was $108.2 million or $0.60 per diluted share compared to net earnings of $118.0 million or $0.64 per share a year ago. Net cash provided by operating activities was of $241.5 million compared to $149.4 million a year ago. Purchase of computer software and property, plant and equipment was of $61.3 million compared to $52.8 million a year ago. Adjusted net earnings were of $179.5 million or $1.00 per share compared to $154.5 million or $0.83 per share a year ago.
For the first quarter ending March 31, 2015, the company anticipates revenue to be in the range of $1.275 to $1.375 billion. At the midpoint, first quarter revenue is projected to increase 1% compared to the first quarter of 2014 and decrease 7% sequentially in part impacted by seasonal demand. At the midpoint of guidance, The company expects adjusted operating margin of approximately 3.2%, an improvement of 10 basis points compared to the first quarter of 2014., and non-IFRS adjusted net earnings per share to be in the range of $0.18 to $0.24. The company expects a negative $0.04 to $0.08 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation expense and amortization of intangible assets (excluding computer software).
Celestica Inc. is engaged in designing, manufacturing, hardware platform and supply chain solutions. The Company operates in two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The ATS segment consists of its ATS end market and is comprised of its Aerospace & Defense (A&D), Industrial, HealthTech, and Capital Equipment businesses. Its Capital Equipment business is comprised of its semiconductor, display, and robotics equipment businesses. The CCS segment consists of its communications and enterprise end markets. The enterprise end market is comprised of Celesticaâs servers and storage businesses. It offers a range of product manufacturing and related supply chain services to customers in both of its segments, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining and others.
Celestica Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015