July 22, 2011 / 2:58 PM / 7 years ago

UPDATE 2-Celestica profits triples, shares jump

* Q2 net profit $0.21/share vs $0.06/share

* Revenue rise to $1.83 billion from $1.59 billion

* Company sees demand influenced by economic uncertainty

* Shares rise as much as 10 percent in Toronto

(Adds quote, outlook, detail, share price; in U.S. dollars)

TORONTO, July 22 (Reuters) - Celestica Inc (CLS.TO) (CLS.N) said on Friday its quarterly profit more than tripled as new business awards pushed revenue higher, and shares of the contract electronics manufacturer rose as much as 10 percent.

Profit rose to $45.7 million, or 21 cents a share, in the second quarter, compared with $13 million, or 6 cents a share, a year earlier. On an adjusted basis it earned 27 cents per share.

“New business awards from 2010 are contributing to our revenue growth and operating margins are benefitting from a favorable revenue mix and higher operating efficiencies from recently ramped programs,” Chief Executive Craig Muhlhauser said in a release.

The company expects sales of $1.8 billion in the current quarter, give or take $75 million, and adjusted net earnings between 23 cents to 29 cents a share.

The Canadian-based company said an uncertain global economic climate would continue to have an impact on customer demand.

Revenue for the company, whose major customers are IBM (IBM.N) and Cisco (CSCO.O), rose to $1.83 billion from $1.59 billion in the year earlier.

The company’s shares hit a two-year low in June after Research In Motion, RIM.TO another major customer, reported disappointing results.

Celestica shares rose 9.5 percent early Thursday to C$8.80 on the Toronto Stock Exchange and 8.6 percent to $9.25 on the New York Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore and Allison Martell in Toronto; Editing by Frank McGurty)

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