Celestica Announces Fourth Quarter and Fiscal Year 2014 Financial Results

 

(1)

 Management uses non-IFRS ROIC as a measure to assess the effectiveness of the invested capital we use to build products or provide services to our customers. Our non-IFRS ROIC measure includes non-IFRS operating earnings, working capital management and asset utilization. Non-IFRS ROIC is calculated by dividing non-IFRS adjusted EBIAT by average non-IFRS net invested capital. Net invested capital is a non-IFRS measure and consists of the following IFRS measures: total assets less cash, accounts payable, accrued and other current liabilities and provisions, and income taxes payable. We use a two-point average to calculate average non-IFRS net invested capital for the quarter and a five-point average to calculate average non-IFRS net invested capital for the year. There is no comparable measure under IFRS.

GUIDANCE SUMMARY



Q4 2014 Guidance


Q4 2014 Actual


Q1 2015 Guidance (1)

IFRS revenue (in billions)...................................................................

$1.375 to $1.475


$1.424


$1.275 to $1.375

Non-IFRS adjusted EPS (diluted).....................................................

$0.21 to $0.27


$0.23


$0.18 to $0.24



(1)

 We expect a negative $0.04 to $0.08 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation expense and amortization of intangible assets (excluding computer software).



CELESTICA INC.

CONDENSED CONSOLIDATED BALANCE SHEET
(in millions of U.S. dollars)
(unaudited)

 


December 31
 2013


December 31
 2014

Assets






Current assets:






Cash and cash equivalents (note 11)......................................................................................................

$

544.3



$

565.0


Accounts receivable (note 4)..................................................................................................................

654.1



693.5


Inventories (note 5)................................................................................................................................

817.2



719.0


Income taxes receivable..........................................................................................................................

13.6



11.4


Assets classified as held-for-sale...........................................................................................................

30.2



28.3


Other current assets...............................................................................................................................

61.1



87.0


Total current assets.....................................................................................................................................

2,120.5



2,104.2








Property, plant and equipment...................................................................................................................

313.6



312.4


Goodwill (note 9(b))...................................................................................................................................

60.3



19.5


Intangible assets..........................................................................................................................................

44.2



35.2


Deferred income taxes.................................................................................................................................

45.3



37.3


Other non-current assets (notes 8 and 9(c))...............................................................................................

55.0



75.0


Total assets.................................................................................................................................................

$

2,638.9



$

2,583.6








Liabilities and Equity






Current liabilities:






Accounts payable..................................................................................................................................

$

770.7



$

730.9


Accrued and other current liabilities......................................................................................................

274.5



259.6


Income taxes payable.............................................................................................................................

30.6



14.5


Current portion of provisions................................................................................................................

33.4



49.3


Total current liabilities................................................................................................................................

1,109.2



1,054.3








Pension and non-pension post-employment benefit obligations (note 8)..................................................

93.5



99.2


Provisions and other non-current liabilities................................................................................................

16.3



18.1


Deferred income taxes.................................................................................................................................

17.9



17.1


Total liabilities............................................................................................................................................

1,236.9



1,188.7








Equity:






Capital stock (note 7)............................................................................................................................

2,712.0



2,609.5


Treasury stock (note 7).........................................................................................................................

(12.0)



(21.4)


Contributed surplus...............................................................................................................................

681.7



677.1


Deficit....................................................................................................................................................

(1,965.4)



(1,845.3)


Accumulated other comprehensive loss.................................................................................................

(14.3)



(25.0)


Total equity................................................................................................................................................

1,402.0



1,394.9


Total liabilities and equity..........................................................................................................................

$

2,638.9



$

2,583.6


Contingencies (note 12)

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