Celestica Loss Reflects Weak Telecom Sales (CLS, IBM, CSCO, SUNW, LU)

Tony Sagami (Harvest Advisors) submits: Celestica is a contract manufacturer that assembles and repairs electronics for companies like IBM, Cisco, Sun Microsystems, and Lucent. Business isn’t so good though.

Celestica reported 9 cents per share loss, 2 cents worse than the 7 cents Wall Street was expecting.

The problem is an old one: weak demand.

“This quarter’s results reflect the continued weakness we had previously highlighted from our largest communications and information technology end markets.