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celestica profits fall as it starts winding down rim businesscelestica profits fall as it starts winding down rim businesscelestica profits fall as it starts winding down rim business

by:Mingquan Machinery     2019-11-26
Toronto-Celestica Inc.
Say it\'s second
Quarterly revenue plunged by 48 percentage points due to weak revenue and warned that sales will continue to be hit this year as it is responding to a gradual decline In Motion Research In Motion manufacturing, once the largest customer
Electronic Component Manufacturers said Friday that the company\'s revenue was $23.
Down 6 million from $45, or 11 cents a share.
7 million, 21 cents per share from the same period last year.
Revenue fell to $1.
74 billion from $1.
In the 83 billion quarter, RIM began to close operations, a figure of 2011.
Celestica, which produces electronic components, announced in June that the company will stop providing manufacturing services to RIM in the next three to six months as the troubled BlackBerry maker is seeking
The company says its second
Quarterly results were hit by $21. 8-
Millions of wind-related costs
RIM failed to operate.
It also booked a fee of two cents per share related to higher than expected income tax, as well as a fee of three cents per share for the stock
Based on compensation.
In the second quarter, RIM accounted for 17 of total revenue, and Celestica expects RIM\'s revenue to be reduced to 10 of total revenue by the third quarter.
However, as the company has been working on the diversity of its customer base for the past few years, its revenue from the diversified end market accounts for total revenue, up from 13 percentage points in the same period last year.
As RIM is such an important customer, the company said it would take additional restructuring actions in 2012 to reduce the cost structure, but did not elaborate on what those actions were.
It is expected that by the end of 2012, the total cost of restructuring will be between $40 million and $50 million, of which $20.
1 million booked in the second one-quarter.
The Celtics say RIM-related wind-
The decline, and the challenging demand outlook, led it to believe that revenue in fiscal 2012 will be negative and no longer achieve three
The annual revenue growth target is between 6 and 8 percentage points.
In the third quarter, the company expects revenue to fall within $1. Between $6 billion and $1.
7 billion, adjusted net earnings per share range from 17 cents to 23 cents.
Analysts had expected earnings per share to be 24 cents.
As extreme volatility continues to disrupt the stock market and drain business confidence, the company has recently been hit by a steady decline in orders.
For years, it has been working to reduce its reliance on a small number of customers, especially those who produce consumer gadgets, such as RIM, which has accounted for 20 of its business.
RIM\'s orders for BlackBerry smartphones have fallen in part because of the growing popularity of rival Apple Inc.
The IPhone has also hit Celestica because that means it has fewer orders for device components it produces for telecoms companies.
\"Our priority continues to be to further diversify our customer base and develop new capabilities to increase the value we provide to our customers while taking steps to prepare for the increasingly difficult economic environment, craig Houze, President and CEO of Tianhong.
As part of its ongoing strategy to diversify its customer base, the company also announced on Friday that it has agreed to buy California-
Headquartered in D & H manufacturing, it is a manufacturer of semiconductor equipment components for about $70 million.
D & H has revenue of approximately $80 million and has approximately 350 employees.
Celestica expects the deal to be completed in the third quarter.
\"This acquisition further strengthens Celestica\'s diversified market supply and will enable us to provide customers with additional capabilities for large-scale and high-quality precision machining,\" Muhlhauser said . \". Toronto-
Headquartered in Celestica, it supplies components and equipment for communications, computers, telecom aerospace, defense and other markets.
Celestica, once a division of IBM Canada, was later sold to Onex, one of Canada\'s largest investment companies, interested in aerospace, health
And many industries and services. Toronto-
Onex has a minority stake in the company but majority voting rights.
Celestica Inc. , a Canadian record company.
Say it\'s second
Quarterly revenue plunged by 48 percentage points due to weak revenue and warned that sales will continue to be hit this year as it is responding to a gradual decline In Motion Research In Motion manufacturing, once the largest customer
Electronic Component Manufacturers said Friday that the company\'s revenue was $23.
Down 6 million from $45, or 11 cents a share.
7 million, 21 cents per share from the same period last year.
Revenue fell to $1.
74 billion from $1.
In the 83 billion quarter, RIM began to close operations, a figure of 2011.
Celestica, which produces electronic components, announced in June that the company will stop providing manufacturing services to RIM in the next three to six months as the troubled BlackBerry maker is seeking
The company says its second
Quarterly results were hit by $21. 8-
Millions of wind-related costs
RIM failed to operate.
It also booked a fee of two cents per share related to higher than expected income tax, as well as a fee of three cents per share for the stock
Based on compensation.
In the second quarter, RIM accounted for 17 of total revenue, and Celestica expects RIM\'s revenue to be reduced to 10 of total revenue by the third quarter.
However, as the company has been working on the diversity of its customer base for the past few years, its revenue from the diversified end market accounts for total revenue, up from 13 percentage points in the same period last year.
As RIM is such an important customer, the company said it would take additional restructuring actions in 2012 to reduce the cost structure, but did not elaborate on what those actions were.
It is expected that by the end of 2012, the total cost of restructuring will be between $40 million and $50 million, of which $20.
1 million booked in the second one-quarter.
The Celtics say RIM-related wind-
The decline, and the challenging demand outlook, led it to believe that revenue in fiscal 2012 will be negative and no longer achieve three
The annual revenue growth target is between 6 and 8 percentage points.
In the third quarter, the company expects revenue to fall within $1. Between $6 billion and $1.
7 billion, adjusted net earnings per share range from 17 cents to 23 cents.
Analysts had expected earnings per share to be 24 cents.
As extreme volatility continues to disrupt the stock market and drain business confidence, the company has recently been hit by a steady decline in orders.
For years, it has been working to reduce its reliance on a small number of customers, especially those who produce consumer gadgets, such as RIM, which has accounted for 20 of its business.
RIM\'s orders for BlackBerry smartphones have fallen in part because of the growing popularity of rival Apple Inc.
The IPhone has also hit Celestica because that means it has fewer orders for device components it produces for telecoms companies.
\"Our priority continues to be to further diversify our customer base and develop new capabilities to increase the value we provide to our customers while taking steps to prepare for the increasingly difficult economic environment, craig Houze, President and CEO of Tianhong.
As part of its ongoing strategy to diversify its customer base, the company also announced on Friday that it has agreed to buy California-
Headquartered in D & H manufacturing, it is a manufacturer of semiconductor equipment components for about $70 million.
D & H has revenue of approximately $80 million and has approximately 350 employees.
Celestica expects the deal to be completed in the third quarter.
\"This acquisition further strengthens Celestica\'s diversified market supply and will enable us to provide customers with additional capabilities for large-scale and high-quality precision machining,\" Muhlhauser said . \". Toronto-
Headquartered in Celestica, it supplies components and equipment for communications, computers, telecom aerospace, defense and other markets.
Celestica, once a division of IBM Canada, was later sold to Onex, one of Canada\'s largest investment companies, interested in aerospace, health
And many industries and services. Toronto-
Onex has a minority stake in the company but majority voting rights.
Celestica Inc. , a Canadian record company.
Say it\'s second
Quarterly revenue plunged by 48 percentage points due to weak revenue and warned that sales will continue to be hit this year as it is responding to a gradual decline In Motion Research In Motion manufacturing, once the largest customer
Electronic Component Manufacturers said Friday that the company\'s revenue was $23.
Down 6 million from $45, or 11 cents a share.
7 million, 21 cents per share from the same period last year.
Revenue fell to $1.
74 billion from $1.
In the 83 billion quarter, RIM began to close operations, a figure of 2011.
Celestica, which produces electronic components, announced in June that the company will stop providing manufacturing services to RIM in the next three to six months as the troubled BlackBerry maker is seeking
The company says its second
Quarterly results were hit by $21. 8-
Millions of wind-related costs
RIM failed to operate.
It also booked a fee of two cents per share related to higher than expected income tax, as well as a fee of three cents per share for the stock
Based on compensation.
In the second quarter, RIM accounted for 17 of total revenue, and Celestica expects RIM\'s revenue to be reduced to 10 of total revenue by the third quarter.
However, as the company has been working on the diversity of its customer base for the past few years, its revenue from the diversified end market accounts for total revenue, up from 13 percentage points in the same period last year.
As RIM is such an important customer, the company said it would take additional restructuring actions in 2012 to reduce the cost structure, but did not elaborate on what those actions were.
It is expected that by the end of 2012, the total cost of restructuring will be between $40 million and $50 million, of which $20.
1 million booked in the second one-quarter.
The Celtics say RIM-related wind-
The decline, and the challenging demand outlook, led it to believe that revenue in fiscal 2012 will be negative and no longer achieve three
The annual revenue growth target is between 6 and 8 percentage points.
In the third quarter, the company expects revenue to fall within $1. Between $6 billion and $1.
7 billion, adjusted net earnings per share range from 17 cents to 23 cents.
Analysts had expected earnings per share to be 24 cents.
As extreme volatility continues to disrupt the stock market and drain business confidence, the company has recently been hit by a steady decline in orders.
For years, it has been working to reduce its reliance on a small number of customers, especially those who produce consumer gadgets, such as RIM, which has accounted for 20 of its business.
RIM\'s orders for BlackBerry smartphones have fallen in part because of the growing popularity of rival Apple Inc.
The IPhone has also hit Celestica because that means it has fewer orders for device components it produces for telecoms companies.
\"Our priority continues to be to further diversify our customer base and develop new capabilities to increase the value we provide to our customers while taking steps to prepare for the increasingly difficult economic environment, craig Houze, President and CEO of Tianhong.
As part of its ongoing strategy to diversify its customer base, the company also announced on Friday that it has agreed to buy California-
Headquartered in D & H manufacturing, it is a manufacturer of semiconductor equipment components for about $70 million.
D & H has revenue of approximately $80 million and has approximately 350 employees.
Celestica expects the deal to be completed in the third quarter.
\"This acquisition further strengthens Celestica\'s diversified market supply and will enable us to provide customers with additional capabilities for large-scale and high-quality precision machining,\" Muhlhauser said . \". Toronto-
Headquartered in Celestica, it supplies components and equipment for communications, computers, telecom aerospace, defense and other markets.
Celestica, once a division of IBM Canada, was later sold to Onex, one of Canada\'s largest investment companies, interested in aerospace, health
And many industries and services. Toronto-
Onex has a minority stake in the company but majority voting rights.
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