Celestica profit falls; to buy company for $70 mln
July 27 |
July 27 (Reuters) - Celestica Inc, a contract electronics manufacturer that supplies to Research In Motion Ltd , reported a 48 percent fall in second-quarter net profit as services to the BlackBerry maker wind down.
Celestica also said it will buy D&H Manufacturing Co, which makes components for the semiconductor industry, for $70 million to diversify its revenue base.
Second-quarter net profit fell to $23.6 million, or 11 cents per share, from $45.7 million, or 21 cents per share, a year earlier.
Revenue fell 5 percent to $1.74 billion.
Celestica, which makes smartphones, servers and some other products for branded manufacturers such as RIM, IBM and Cisco, said in June it will stop making products for its top customer, RIM, by the end of the year.
- Tweet this
- Share this
- Digg this