UPDATE 2-Celestica expects revenue to improve in current quarter

Tue Apr 23, 2013 1:46pm EDT
 
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* First-quarter earnings $0.60/shr vs $0.20/shr year earlier

* Sees revenue grow in Q2 vs Q1

* Sees double-digit growth in diversified business in Q2

* Sees second-quarter earnings of $0.13-$0.19/share, vs est $.17/shr

April 23 (Reuters) - Canadian contract electronics manufacturer Celestica Inc forecast stronger revenue for the current quarter as new contracts help to make up for the loss of former No.1 customer BlackBerry .

Shares of Celestica, which reported a 76 percent fall in first-quarter profit on Tuesday, were up 6 percent at C$8.27 in early afternoon trading on the Toronto Stock Exchange.

"...We expect both revenue and margins to improve in the second half," Chief Executive Craig Muhlhauser told Reuters.

"From what I've seen in the first quarter, the biggest year-on-year negative variance due to weak demand is primarily in the server business."

Celestica said on Tuesday it expects revenue to rise to $1.38-$1.48 billion in the current quarter from $1.37 billion in the first quarter. Analysts on average expect revenue of $1.43 billion. The company had revenue of $1.74 billion in the second quarter of 2012.   Continued...