Thursday, October 23, 2003
Celestica Inc. reported Q3 results with revenue slightly exceeding estimate while net loss were double the average forecast provided by analysts although less than the same quarter last year.
Celestica, the world's fifth largest EMS provider, said its net loss narrowed to $65 million, or 30 cents a share, in the three months ended Sept. 30, from $91 million, or 40 cents a share, in the third quarter of 2002. Revenue slid 17%, to $1.64 billion from $1.96 billion in the comparable 2002 quarter.
The contract manufacturer has been reorganizing its operations in response to a slump in its key communications equipment market. The company said it sees some improvement ahead but acknowledged that it still has some way to go before seeing profitability.
Celestica forecasts fourth quarter revenue would be in the range of $1.7 billion to $1.85 billion with pro forma net loss between 1 cent per share and 9 cents per share.
By: DocMemory
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