Contract electronics maker Celestica's profit more than triples

Wed Apr 23, 2014 7:50am EDT
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April 23 (Reuters) - Canadian contract electronics manufacturer Celestica Inc's quarterly profit more than tripled.

The company's net profit rose to $37.3 million, or 20 cents per share, in the first quarter. It received $2.5 million as recoveries from settlement of class action lawsuits in the quarter ended March 31.

Celestica reported a profit of $10.5 million, or 6 cents per share, a year earlier, when it took a restructuring charge of $7.3 million.

Revenue fell 4.4 percent to $1.31 billion. (Reporting By Sneha Banerjee and Shubhankar Chakravorty in Bangalore)