Celestica Inc. reported earnings results for the fourth quarter and full year ended December 31, 2012. For the fourth quarter, the company reported revenue of $1.5 billion came in higher than the midpoint of its guidance range, declined 5% sequentially and was down 15% on a year-over-year basis, predominantly as a result of the wind down of RIM. Adjusted net earnings was $50.3 million or $0.25 per share compared to adjusted net earnings of $71.1 million or $0.33 per share for the same period last year. IFRS net earnings of $7.2 million or $0.04 per share compared with IFRS net earnings of $69.2 million or $0.32 per share for the same period last year. The company generated strong free cash flow of $90 million. Capital expenditures were approximately $17 million or 1.2% of revenue. The company generated $105 million in cash from operations for the fourth quarter. IFRS earnings before income taxes were $2.2 million against $54.2 million reported last year. Non-IFRS operating earnings (EBIAT) were $47.0 million against $66.8 million reported last year. IFRS cash provided by operations was $104.6 million against $96.8 million and purchase of property, plant and equipment, net of sales proceeds was $13.4 million against $6.8 million reported last year. Earnings from operations were $3.2 million compared to $55.3 million last year. Purchase of computer software and property, plant and equipment was $17.3 million compared to $14.8 million last year.

For the year, the company reported revenue of $6.5 billion was down 10% compared to $7.2 billion reported in the year 2011, primarily due to the wind down of RIM. IFRS net earnings were $118 million or $0.56 per share against $195.1 million or $0.89 per share reported last year. The company achieved ROIC of 21.5%, which came in above its 20% objective. The company generated strong free cash flow of $211 million for the year, above its annual target range of $100 million to $200 million. Adjusted net earnings (non-IFRS) were $205.8 million or $0.98 per share against $241.9 million or $1.11 per share reported last year. IFRS earnings before income taxes were $111.9 million against $198.8 million reported last year. Non-IFRS operating earnings (EBIAT) were $214.6 million against $261.1 million reported last year. IFRS cash provided by operations was $312.4 million against $196.3 million and purchase of property, plant and equipment, net of sales proceeds was $45.2 million against $13.4 million reported last year. Earnings from operations were $115.4 million compared to $204.2 million last year. Purchase of computer software and property, plant and equipment was $105.9 million compared to $62.3 million last year.

For the first quarter of 2013, the company anticipates revenue to be in the range of $1.325 to $1.425 billion, and adjusted net earnings per share to be in the range of $0.11 to $0.17. The company expect a negative $0.07 to $0.13 per share (pre-tax) aggregate impact on an IFRS basis for the following items: stock-based compensation, amortization of intangible assets and restructuring charges.

For the full year of 2013, the company expected adjusted tax rate to be in the 10% to 12%.

For the fourth quarter, the company recorded a $17.7 million of non-cash asset impairment charges, comprised of $14.6 against goodwill, $0.7 against intangible assets and $2.4 against property, plant and equipment.