Celestica: 1Q Profit Sends Stock Up 25%

Celestica Inc. (CLS) shares were up more than 25% in early morning trading yesterday, after the company said it swung to a profit in the first quarter.

The company reported net earnings of C$29.8-million or C$0.13 per share, compared to a net loss of C$34.3-million or C$0.15 per share in the first quarter last year. Revenues, meanwhile, were C$1.836-million versus C$1.842-million.

The electronics maker's took a C$3.3-million charge in the fourth quarter as the result of ongoing job cuts and the closing of facilities. In the first quarter of 2007, the company reported an C$8-million charge.