Celestica Q1 Earnings Rise, Meets Estimates

(RTTNews) - Celestica Inc. (CLS.TO, CLS), reported higher earnings for the first quarter, mainly reflecting lower cost of sales. But net sales for the quarter declined by 4 percent.

The company's net earnings for the period advanced to $37.3 million or $0.20 per share from $10.5 million or $0.06 per share during the prior-year period. On an adjusted basis, earnings amounted to $ 0.26 per share. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $ 0.20 for the quarter. Analysts' estimates typically exclude one-time items. First-quarter revenues were down 4 percent to $1.312 billion from $1.372 billion during the year-ago period, while analysts estimated revenues of $ 1.36 billion for the quarter. Looking forward, for the second quarter, the company expects adjusted earnings per share in the range of $0.20 to $0.26 and anticipates revenues between $1.375 and $1.475 billion.Analysts estimates earnings of $0.23 per share and revenues to be $1.45 billion for the second-quarter.