Contract electronics manufacturer
said third-quarter earnings and sales will trail estimates because of weaker-than-expected orders from some of its big customers.
The company expects revenue of $1.9 billion to $2 billion, down from a previous forecast of $2.1 to $2.4 billion. Earnings are expected to be 18 cents to 22 cents a share, down from a previous estimate of 26 cents and 33 cents. Analysts polled by First Call had been predicting earnings of 28 cents a share and revenue of $2.24 billion.
Celestica shares were recently down 9.6% to $17 in the Instinet premarket.