over the counter amoxicillin shipped from Amoxil.Pro.

TORONTO, April 28, 2021 (GLOBE NEWSWIRE) -- Celestica Inc. (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2021 (Q1 2021)†.

“We had a strong start to the year as we delivered solid results for the quarter. Our revenue, non-IFRS adjusted EPS* and non-IFRS operating margin* were all above the midpoint of our guidance ranges for Q1 2021. In addition, we were able to further reduce our debt, while also returning capital to shareholders through our share buyback program,” said Rob Mionis, President and CEO, Celestica.

“We are pleased with our operating performance despite the continuing challenges from the COVID-19 pandemic. We are excited by the opportunities in front of us and continue to focus on executing for our customers while driving profitable growth.”

Q1 2021 Highlights

• Revenue: $1.23 billion, decreased 6% compared to $1.32 billion for the first quarter of 2020 (Q1 2020);
  Revenue of our non-Cisco business** increased 7% compared to Q1 2020.

• Operating margin (non-IFRS)*: 3.5%, compared to 2.9% for Q1 2020.
• ATS segment revenue: decreased 3% compared to Q1 2020, and represented 43% of total revenue, compared to 41% of total revenue for Q1 2020; ATS segment margin was 4.0%, compared to 2.7% for Q1 2020.
• CCS segment revenue: decreased 9% compared to Q1 2020, and represented 57% of total revenue, compared to 59% of total revenue for Q1 2020; CCS segment margin was 3.1%, compared to 3.0% for Q1 2020.
• Lifecycle Solutions portfolio revenue***: increased 7% compared to Q1 2020, and represented 59% of total revenue, compared to 51% of total revenue for Q1 2020.
• IFRS earnings per share (EPS): $0.08, compared to a $0.02 loss per share for Q1 2020.
• Adjusted EPS (non-IFRS)*: $0.22, compared to $0.16 for Q1 2020.
• Adjusted return on invested capital (non-IFRS)*: 10.8%, compared to 9.5% for Q1 2020.
• Free cash flow (non-IFRS)*: $20.9 million, compared to $53.8 million for Q1 2020.
• Repaid $30.0 million of outstanding term loan borrowings.
• Undrawn $450 million revolver**** and $449 million in cash/cash equivalents.
• Repurchased and cancelled 0.6 million subordinate voting shares for $5.3 million under our normal course issuer bid.
• Global network operating at normal workforce levels.

† Celestica has two operating and reportable segments - Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). Our ATS segment consists of our ATS end market, and is comprised of our Aerospace and Defense (A&D), Industrial, Energy, HealthTech and Capital Equipment (semiconductor, display, and power & signal distribution equipment) businesses. Our CCS segment consists of our Communications and Enterprise (servers and storage) end markets. Segment performance is evaluated based on segment revenue, segment income and segment margin (segment income as a percentage of segment revenue). See note 26 to our 2020 audited consolidated financial statements, included in our Annual Report on Form 20-F for the year ended December 31, 2020 (2020 20-F), available at www.sec.gov and www.sedar.com, for further detail.

* Non-International Financial Reporting Standards (IFRS) financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar financial measures presented by other public companies that use IFRS or U.S. generally accepted accounting principles (GAAP). See “Non-IFRS Supplementary Information” below for information on our rationale for the use of non-IFRS financial measures, and Schedule 1 for, among other items, non-IFRS financial measures included in this press release, as well as their definitions, uses, and a reconciliation of historical non-IFRS financial measures to the most directly comparable IFRS financial measures.

** total revenue from programs with customers other than Cisco Systems, Inc. (Cisco).

*** aggregate of ATS segment and Hardware Platform Solutions business revenue.

**** excluding ordinary course letters of credit.