Celestica Releases Q4 and FY2017 Financial Results
January 29, 2018 | CelesticaEstimated reading time: 2 minutes
Celestica Inc. today announced financial results for the fourth quarter and year ended December 31, 2017.
Fourth Quarter 2017 Highlights
- Revenue: $1.55 billion, compared to our previously provided guidance range of $1.5 to $1.6 billion, decreased 4% compared to the fourth quarter of 2016Revenue dollars from our Advanced Technology Solutions (ATS)* end market increased 6% compared to the fourth quarter of 2016, and represented 33% of total revenue, compared to 29% of total revenue for the fourth quarter of 2016Revenue dollars from our Communications end market decreased 12% compared to the fourth quarter of 2016, and represented 40% of total revenue, compared to 44% of total revenue for the fourth quarter of 2016Revenue dollars from our Enterprise end market decreased 4% compared to the fourth quarter of 2016, and represented 27% of total revenue for both the fourth quarter of 2016 and 2017IFRS EPS: $0.10 per share, compared to $0.15 per share for the fourth quarter of 2016. IFRS EPS for the fourth quarter of 2016 included a net benefit of $0.07 per share related to income taxes (Tax Benefit)
Full Year 2017 Highlights
- Revenue: $6.1 billion, increased 2% compared to $6.0 billion for 2016Revenue of $1.95 billion from our ATS end market was relatively flat compared to 2016, as growth from strong demand and new programs offset the 7% revenue decline due to our exit from the solar panel business. ATS represented 32% of total revenue for both 2016 and 2017Revenue from our Communications end market increased 4%, and represented 43% of total revenue, compared to 42% of total revenue for 2016Revenue from our Enterprise* end market was relatively flat compared to 2016, and represented 25% of total revenue, compared to 26% of total revenue for 2016IFRS EPS: $0.72 per share
“Our fourth quarter results reflect continued progress in diversifying and growing our ATS revenue base, offset by lower revenues and adverse mix impacts from some of our communications and enterprise programs,” said Rob Mionis, President and CEO, Celestica. “Over the past two years, our strategic focus has been to diversify our revenue base by growing our ATS product portfolios, specifically in the aerospace and defense market, and we are seeing some positive and consistent results. While we still have more work to do, we are entering 2018 with more than $2 billion in sales from a growing and attractive ATS portfolio mix. We will look to grow that business through new program wins and targeted acquisitions that support our longer-term goals of having a highly diversified revenue stream, underpinned by industry leading returns.”
“The company’s balance sheet remains strong. As we continue to execute on our diversification plans, in part through targeted acquisitions intended to increase both our scale and capabilities in our ATS businesses, we expect to complement those investments by continuing to return cash to our shareholders through repurchases under our NCIB.”
About Celestica
Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in aerospace and defense, communications, enterprise, healthtech, industrial, semiconductor capital equipment, and smart energy to deliver solutions for their most complex challenges. A leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers.
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