Celestica Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended December 31, 2016; Provides Earnings Guidance for the Quarter Ending March 31, 2017
January 26, 2017 at 05:11 pm
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Celestica Inc. reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended December 31, 2016. For the quarter, the company reported revenue of $1,623.7 million compared to $1,514.9 million a year ago. Earnings from operations were $23.7 million compared to $26.4 million a year ago. Earnings before income taxes were $29.3 million compared to $23.8 million a year ago. Net earnings for the period were $20.9 million compared to $12.1 million a year ago. Diluted earnings per share were $0.15 compared to $0.15 a year ago. Net cash provided by operating activities were $87.5 million compared to $92.0 million a year ago. Purchase of computer software and property, plant and equipment was $17.9 million compared to $16.0 million a year ago. Non-IFRS operating earnings (adjusted EBIAT) was $61.4 million compared to $53.0 million a year ago. Non-IFRS adjusted net earnings were $59.5 million or $0.41 per share compared to $38.9 million or $0.27 per share a year ago. Non-IFRS free cash flow was $69.3 million compared to $76.0 million a year ago.
For the year, the company reported revenue of $6,016.5 million compared to $5,639.2 million a year ago. Earnings from operations were $156.7 million compared to $115.4 million a year ago. Earnings before income taxes were $161.0 million compared to $109.1 million a year ago. Net earnings for the period were $136.3 million compared to $66.9 million a year ago. Diluted earnings per share were $0.42 compared to $0.95 a year ago. Net cash provided by operating activities were $173.3 million compared to $196.3 million a year ago. Purchase of computer software and property, plant and equipment was $64.1 million compared to $62.8 million a year ago. Non-IFRS operating earnings (adjusted EBIAT) was $221.2 million compared to $194.8 million a year ago. Non-IFRS adjusted net earnings were $200.9 million or $1.40 per share compared to $145.0 million or $0.92 per share a year ago. Non-IFRS free cash flow was $110.2 million compared to $113.2 million a year ago.
For the quarter ending March 31, 2017, the company anticipates revenue to be in the range of $1.4 billion to $1.5 billion, non-IFRS operating margin to be 3.5% at the mid-point of expectations, and non-IFRS adjusted earnings per share to be in the range of $0.24 to $0.30. The company expects a negative $0.11 to $0.17 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation expense, amortization of intangible assets (excluding computer software) and restructuring charges.
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 Fiscal Year Ended December 31, 2016; Provides Earnings Guidance for the Quarter Ending March 31, 2017