Upbeat Results Drives Up Celestica Shares

Shares of hardware platform and supply chain solutions provider, Celestica Inc. (CLS) are rising more than 7% Thursday morning after reporting upbeat fourth-quarter results.

The company reported net earnings of $31.9 million or $0.26 per share in the fourth quarter, higher than $20.1 million or $0.16 per share in the same quarter a year ago.

Excluding one-time items, earnings were $0.44 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.32 per share.

Revenue for the quarter increased 9% to $1.512 billion from $1.387 billion a year ago. The consensus estimate stood at $1.49 billion.

Looking forward to the first quarter, the company sees revenue in the range of $1.4 billion to $1.55 billion and adjusted EPS in the range of $0.31 to $0.37.

For the full year, the company expects revenue to increase to at least $6.3 billion.

CLS touched a new high of $12.41 this morning, before slipping to trade at $11.81 currently.

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