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Celestica profit up from year ago mark

TORONTO - Electronics manufacturing company Celestica Inc. (TSX:CLS), which keeps its books in U.S. dollars, said Thursday earnings in its most recent quarter grew to US$69.2 million.

TORONTO - Electronics manufacturing company Celestica Inc. (TSX:CLS), which keeps its books in U.S. dollars, said Thursday earnings in its most recent quarter grew to US$69.2 million.

The Toronto-based company said the profit amounted to 32 cents per share in its latest quarter, up from $38.4 million or 17 cents per share a year ago.

Revenue for the quarter totalled $1.75 billion, down from $1.88 billion.

After adjusting for one-time charges, the company said it earned $71.1 million or 33 cents per share, up from $61.3 million or 27 cents a year ago when the company took a $9.1-million non-cash impairment charge.

In its outlook for the first quarter, the company said it expects revenue to be in the range of $1.6 billion to $1.7 billion and adjusted earnings per share to be in the range of 18 cents to 24 cents.

"Given the economic uncertainty going into 2012, we remain focused on making our customers successful by delivering the quality, speed and flexibility they require in this challenging environment while continuing to execute our strategy and deliver strong and consistent financial returns," chief executive Craig Muhlhauser said in a statement.

For all of 2011, the company said it earned $195.1 million or 89 cents per diluted share on $7.21 billion compared with a profit of $101.2 million or 44 cents per diluted share on $6.53 billion in revenue in 2010.

Celestica provides contract manufacturing services for companies.

The company used to be a division of IBM Canada and was later sold to Onex, one of Canada's largest investment companies with interests in aerospace, health-care and many industrial and services sectors.

Toronto-based Onex (TSX:OCX) has a minority equity stake but majority voting rights in the company.

Shares in Celestica, which reported its results after the close of markets, were down 16 cents at $7.72 on the Toronto Stock Exchange.