Loss Widens at Celestica

The contract electronics manufacturer also guides in line.
Author:
Publish date:

Contract electronics manufacturer

Celestica

(CLS) - Get Report

topped analysts' third-quarter estimates, but a charge took a bite out of the bottom line.

The company said late Thursday that it lost $42.1 million, or 19 cents a share, in its third quarter ended Sept. 30, wider than $19.6 million or 9 cents a year ago. Results include $82 million in restructuring charges for the latest quarter.

Excluding certain items, the Canada-based company earned $40.5 million, or 18 cents a share, an increase from $27.1 million, or 12 cents a share, in the same period last year.

On that basis, the company beat the Street's expectations by 2 cents.

Celestica posted revenue of $2.39 billion, up from $1.99 billion in the same quarter last year, attributable to growth in the company's consumer segment. That was better than the average analyst forecast of $2.25 billion.

CEO Steve Delaney said in a statement that he was "pleased with the added diversification and the improvement in operating margins, despite the setbacks we've had in the performance of some of our facilities in the Americas and Eastern Europe."

For its fourth quarter ending Dec. 31, the company forecast revenue in the range of $2.25 billion to $2.45 billion, and adjusted per-share earnings ranging from 15 cents to 23 cents. That's in line with Street expectations of 22 cents on sales of $2.4 billion.

Celestica shares rose a penny to $11.75 in recent after-hours trading. They closed the regular session down 4 cents to $11.74.