Craig Muhlhauser, Celestica CEO, speaks at the company's annual general meeting in Toronto on April 24.Nathan Denette
Celestica Inc. shares lifted 8.5 per cent Tuesday after the high-tech manufacturer reported first-quarter revenue of $1.7-billion (U.S.), at the top end of its expectations and in line with analysts' estimates.
The company's shares were up 71 cents at $9.07 in mid-morning trading on the Toronto Stock Exchange on Tuesday.
Celestica, which makes computer, communications and personal electronics products at factories around the world, had expected revenue of between $1.6-billion and $1.7-billion for the period ended March 31.
Celestica's net income was $43.2-million or 20 cents per share under International Financial Reporting Standards, up from $30-million or 14 cents per share.
After adjustments, Celestica's profit was $53.6-million or 25 cents per share, which was better than the company's guidance of between 18 to 24 cents per share.