Key Developments: Celestica Inc (CLS.TO)
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Latest Key Developments (Source: Significant Developments)
Celestica Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates; Sees FY 2013 Charge Guidance
Celestica Inc announced that for the second quarter of 2013, it anticipates revenue to be in the range of $1.375-$1.475 billion, and adjusted net earnings per share (EPS) to be in the range of $0.13-$0.19. The Company expects a negative $0.05 to $0.10 per share (pre-tax) aggregate impact on an IFRS basis for the following items: stock-based compensation, amortization of intangible assets (excluding computer software) and restructuring charges. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.397 billion and EPS of $0.16 for the second quarter of 2013. The Company completed manufacturing services for RIM and the related transition activities in 2012. Due to the historical significance of RIM to operations and in response to the continued challenging demand environment, in July 2012 announced restructuring actions throughout global network to reduce overall cost structure and improve margin performance. The Company continue to estimate the total restructuring charges to complete planned actions to be in the range of $55 million to $65 million. Of this estimated amount, the Company recorded $44.0 million in 2012 and $7.3 million in the first quarter of 2013. The Company expect to complete the remaining actions by the end of 2013. Full Article
Celestica Inc Issues Q1 2013 Guidance In Line With Analysts' Estimates
Celestica Inc announced that for the first quarter of 2013, it expects revenue to be in the range of $1.325 to $1.425 billion, and adjusted net earnings per share (EPS) to be in the range of $0.11 to $0.17. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.393 billion and EPS of $0.15 for the first quarter of 2013. Full Article
Celestica Inc Announces Appointment of New Chief Financial Officer
Celestica Inc announced that Darren Myers has been appointed Executive Vice President and Chief Financial Officer. Mr. Myers is succeeding Paul Nicoletti , who will be leaving the Company effective December 28 to pursue other interests. Full Article
Celestica Inc Reaffirms Q4 2012 Guidance-Conference Call
Celestica Inc announced that it is reaffirming fourth quarter 2012 financial guidance that was provided on October 23. The Company anticipates revenue to be in the range of $1.425 billion to $1.525 billion, and adjusted net earnings per share to be in the range of $0.15 to $0.21. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.17 for the fourth quarter of 2012. Full Article
Celestica Inc Completes Acquisition Of D&H Manufacturing Company
Celestica Inc announced that it has completed its previously announced acquisition of D&H Manufacturing Company. Based in Fremont, California, D&H is a manufacturer of precision machined components and assemblies, primarily for the semiconductor capital equipment market. Full Article
Celestica Inc To Acquire D&H Manufacturing Company
Celestica Inc announced that it has agreed to acquire D&H Manufacturing Company, based in Fremont, California, a manufacturer of precision machined components and assemblies, primarily for the semiconductor capital equipment market. The purchase price is expected to be approximately $70 million and will be financed from either Celestica's credit facility or from cash on hand. The transaction is expected to close in the third quarter of 2012. Full Article
Celestica Inc Lowers FY 2012 Revenue Guidance; Withdraws Long Term Revenue Guidance; Issues Q3 2012 Guidance; EPS Guidance Below Analysts' Estimates; Sees FY 2012 Charge Guidance
Celestica Inc announced that due to the significance of RIM as a customer and in order to improve margin performance, it will take additional restructuring actions in fiscal 2012 throughout global network to reduce overall cost structure. By the end of fiscal 2012, it expects to record total restructuring charges of between $40 million and $50 million, including the estimated $35 million that announced in June 2012. As a result of the wind down of manufacturing services for RIM and the challenging demand outlook, it expects revenue growth for fiscal 2012 will be negative and that will no longer achieve (and now withdraw) three-year compound annual revenue growth target of 6% to 8%. For the third quarter of 2012, it anticipates revenue to be in the range of $1.6-$1.7 billion, and adjusted net EPS to be in the range of $0.17-$0.23. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.7 billion and EPS of $0.24 for third quarter of 2012. Full Article
Celestica Inc Reaffirms Q2 2012 Guidance; To Wind Down Manufacturing Services For Research In Motion
Celestica Inc reaffirmed second quarter of 2012 guidance and expects revenue to be in the range of $1.65-$1.75 billion and adjusted net earnings per share (EPS) to be in the range of $0.20-$0.26. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.70 billion and EPS of $0.24 for second quarter of 2012. The Company also announced that over the course of the next three to six months, it will wind down its manufacturing services for Research in Motion (RIM). Celestica has been a high-performing manufacturing supplier for RIM and will work closely with RIM throughout the transition. Celestica estimates that prior to any recoveries, its restructuring charges will not exceed $35 million. Full Article
UPDATE 2-Celestica expects revenue to improve in current quarter
* First-quarter earnings $0.60/shr vs $0.20/shr year earlier
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