8-K

CELESTICA INC 8-K Report (Sep 19, 2002)

Filed September 19, 2002For Securities:CLS

Summary

Celestica Inc. (CLS) has issued an updated guidance for its third quarter ending September 30, 2002, via a Form 6-K filing on September 19, 2002. The company now anticipates revenues between US$1.9 billion and US$2.0 billion, with adjusted net earnings per share projected to be in the range of US$0.18 to US$0.22. This represents a downward revision from the previous guidance provided on July 17, 2002, which projected revenues of US$2.1 billion to US$2.4 billion and adjusted net earnings per share of US$0.26 to US$0.33. The CEO attributed the revised outlook to recent order reductions from a few of Celestica's largest customers. Despite this adjustment, the company emphasized its commitment to its strategic initiatives, focusing on operational efficiency and maintaining a strong balance sheet. Investors will be looking for the full third quarter results, scheduled for release on October 16, 2002, to assess the impact of these customer-driven changes and Celestica's ability to navigate the current market conditions.

Key Highlights

  • 1Celestica Inc. updated its Q3 2002 financial guidance, lowering revenue and earnings per share expectations.
  • 2The company now forecasts Q3 revenue between US$1.9 billion and US$2.0 billion, down from prior guidance of US$2.1 billion to US$2.4 billion.
  • 3Adjusted net earnings per share for Q3 are now expected to be US$0.18 - US$0.22, a decrease from the previously guided US$0.26 - US$0.33.
  • 4The revised guidance is attributed to recent reductions from a few of Celestica's largest customers.
  • 5Celestica remains committed to its strategies, focusing on operating efficiency and maintaining a strong balance sheet.
  • 6Full third quarter results are scheduled for release on October 16, 2002.

Frequently Asked Questions

Celestica has lowered its Q3 2002 guidance due to recent order reductions from a few of its largest customers. This directly impacts the company's expected revenue and earnings for the quarter.

The new guidance expects Q3 revenues to be in the range of US$1.9 billion to US$2.0 billion. Adjusted net earnings per share are now projected to be between US$0.18 and US$0.22.

Celestica's full third quarter results are scheduled to be released on October 16, 2002.

Celestica is a world leader in electronics manufacturing services (EMS), providing a broad range of services to leading OEMs in the information technology and communications industries.