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A technician performs quality control at Celestica's plant in Suzhou, China. (Andy Hoffman/The Globe and Mail)
A technician performs quality control at Celestica's plant in Suzhou, China. (Andy Hoffman/The Globe and Mail)

Celestica posts $69.2-million profit Add to ...

Electronics manufacturing company Celestica Inc. said Thursday earnings in its most recent quarter grew to $69.2-million (U.S.).

The Toronto-based company said the profit amounted to 32 cents per share in its latest quarter, up from $38.4-million or 17 cents per share a year ago.

Revenue for the quarter totalled $1.75-billion, down from $1.88-billion.

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After adjusting for one-time charges, the company said it earned $71.1-million, or 33 cents per share, up from $61.3-million, or 27 cents, a year ago when the company took a $9.1-million non-cash impairment charge.

In its outlook for the first quarter, the company said it expects revenue to be in the range of $1.6-billion to $1.7-billion and adjusted earnings per share to be in the range of 18 cents to 24 cents.

“Given the economic uncertainty going into 2012, we remain focused on making our customers successful by delivering the quality, speed and flexibility they require in this challenging environment while continuing to execute our strategy and deliver strong and consistent financial returns,” chief executive Craig Muhlhauser said in a statement.

For all of 2011, the company said it earned $195.1-million, or 89 cents per diluted share, on $7.21-billion compared with a profit of $101.2-million, or 44 cents per diluted share, on $6.53-billion in revenue in 2010.

Celestica provides contract manufacturing services for companies.

The company used to be a division of IBM Canada and was later sold to Onex Corp. , one of Canada’s largest investment companies with interests in aerospace, health-care and many industrial and services sectors.

Toronto-based Onex has a minority equity stake but majority voting rights in the company.

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