11:35 AM EST - Celestica Inc. : announced that second quarter GAAP earnings of $5.3 million U.S. or $0.02 U.S. per share, compared to $39.8 million U.S. or $0.17 U.S. per share last year. Adjusted net earnings for the quarter were $25 million U.S. or $0.11 U.S. per share, compared to $38.9 million U.S. or $0.17 U.S. per share a year ago. Revenue for the quarter declined to $1.4 billion U.S. from $1.88 billion U.S. in the prior-year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.10 U.S. per share on revenues of $1.39 billion U.S. for the quarter. Analysts' estimates typically exclude special items. For the third quarter, the company anticipates revenue to be in the range of $1.425 billion U.S. to $1.575 billion U.S., and adjusted net earnings per share to range from $0.11 to $0.17 U.S. Analysts expect the company to report earnings of $0.13 U.S. per share on revenues of $1.49 billion U.S. for the third quarter. The company also announced plans to further reduce fixed costs and overhead expenses and to eliminate excess capacity through a $75 million-$100 million U.S. restructuring program. Celestica Inc.
shares T.CLS are trading down $0.24 at $8.41.
