EX-99.2 3 a2140732zex-99_2.htm EXHIBIT 99.2

Exhibit 99.2

GRAPHIC


Celestica Inc.
Supplemental Information
(in millions of US dollars, except per share amounts)
(unaudited)

 
   Q3 2002
   Q4 2002
   Q1 2003
   Q2 2003
   Q3 2003
   Q4 2003
   1Q 2004
   2Q 2004
   Q2 YTD 2003
   Q2 YTD 2004
   FY 2001
   FY 2002
   FY 2003
  
Revenue   $ 1,958.9   $ 1,911.9   $ 1,587.4   $ 1,598.4   $ 1,634.8   $ 1,914.8   $ 2,016.9   $ 2,314.2   $ 3,185.7   $ 4,331.1   $ 10,004.4   $ 8,271.6   $ 6,735.3  

GAAP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss) (1)     (90.8 )   (434.9 )   3.2     (39.8 )   (65.0 )   (165.1 )   (8.4 )   (25.5 )   (36.6 )   (33.9 )   (40.3 )   (445.9 )   (266.7 )
Gain on repurchase of convertible debt (GAAP only)     4.0     4.3     5.7     4.2     5.5     0.7     —     21.4     9.9     21.4     —     8.3     16.1  
Convertible debt accretion, net of tax     (4.6 )   (4.3 )   (4.0 )   (3.5 )   (4.4 )   (3.6 )   (3.7 )   (3.8 )   (7.5 )   (7.5 )   (15.0 )   (17.5 )   (15.5 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) available to shareholders — basic     (91.4 )   (434.9 )   4.9     (39.1 )   (63.9 )   (168.0 )   (12.1 )   (7.9 )   (34.2 )   (20.0 )   (55.3 )   (455.1 )   (266.1 )

Earnings (loss) per share — basic
 
$
(0.40
)
$
(1.90
)
$
0.02
 
$
(0.18
)
$
(0.30
)
$
(0.80
)
$
(0.06
)
$
(0.04
)
$
(0.15
)
$
(0.09
)
$
(0.26
)
$
(1.98
)
$
(1.23
)
   
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) per share — diluted (2)   $ (0.40 ) $ (1.90 ) $ 0.02   $ (0.18 ) $ (0.30 ) $ (0.80 ) $ (0.06 ) $ (0.04 ) $ (0.15 ) $ (0.09 ) $ (0.26 ) $ (1.98 ) $ (1.23 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
W.A. # of shares (in millions) for GAAP                                                                                
  — basic     230.1     229.0     227.0     218.0     211.8     209.3     213.2     224.6     222.5     218.9     213.9     229.8     216.5  
  — diluted (2)     230.1     229.0     230.2     218.0     211.8     209.3     213.2     224.6     222.5     218.9     213.9     229.8     216.5  
Actual # of shares o/s (in millions)     229.4     228.6     222.3     213.3     209.6     208.9     223.5     224.0     213.3     224.0     229.7     228.6     208.9  
   
 
 
 
 
 
 
 
 
 
 
 
 
 

ADJUSTED net earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss) (1)   $ (90.8 ) $ (434.9 ) $ 3.2   $ (39.8 ) $ (65.0 ) $ (165.1 ) $ (8.4 ) $ (25.5 ) $ (36.6 ) $ (33.9 ) $ (40.3 ) $ (445.9 ) $ (266.7 )
Adjustments:                                                                                
Non cash option expense     —     —     —     —     —     0.3     1.6     2.1     —     3.7     —     —     0.3  
Amortization of intangible assets     29.0     23.2     12.4     12.1     12.0     12.0     7.2     7.7     24.5     14.9     125.0     95.9     48.5  
Integration costs related to acquisitions     3.0     4.0     —     —     —     —     —     0.4     —     0.4     22.8     21.1     —  
Other charges     136.4     541.4     (1.6 )   21.6     49.1     106.3     10.9     51.5     20.0     62.4     273.1     677.8     175.4  
Income tax effect of above     (26.9 )   (95.3 )   (1.4 )   (6.2 )   (0.1 )   42.0     (3.1 )   (9.5 )   (7.6 )   (12.6 )   (60.5 )   (127.3 )   34.3  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted net earnings (loss)   $ 50.7   $ 38.4   $ 12.6   $ (12.3 ) $ (4.0 ) $ (4.5 )   8.2     26.7     0.3     34.9     320.1     221.6     (8.2 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
  As a percentage of revenue     2.6%     2.0%     0.8%     -0.8%     -0.2%     -0.2%     0.4%     1.2%     0.0%     0.8%     3.2%     2.7%     -0.1%  

ADJUSTED earnings (loss) for EPS calculation
 
 
50.7
 
 
38.4
 
 
12.6
 
 
(12.3
)
 
(4.0
)
 
(4.5
)
 
8.2
 
 
26.7
 
 
0.3
 
 
34.9
 
 
320.1
 
 
221.6
 
 
(8.2
)
Convertible debt accretion, net of tax     (4.6 )   (4.3 )   (4.0 )   (3.5 )   (4.4 )   (3.6 )   (3.7 )   (3.8 )   (7.5 )   (7.5 )   (15.0 )   (17.5 )   (15.5 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings (loss) available to shareholders — basic     46.1     34.1     8.6     (15.8 )   (8.4 )   (8.1 )   4.5     22.9     (7.2 )   27.4     305.1     204.1     (23.7 )

Adjusted earnings (loss) per share — basic
 
$
0.20
 
$
0.15
 
$
0.04
 
$
(0.07
)
$
(0.04
)
$
(0.04
)
$
0.02
 
$
0.10
 
$
(0.03
)
$
0.13
 
$
1.43
 
$
0.89
 
$
(0.11
)
   
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings (loss) per share — diluted (2)   $ 0.20   $ 0.15   $ 0.04   $ (0.07 ) $ (0.04 ) $ (0.04 ) $ 0.02   $ 0.10   $ (0.03 ) $ 0.12   $ 1.37   $ 0.86   $ (0.11 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
W.A. # of shares (in millions) for ADJUSTED earnings (loss)                                                                                
  — basic     230.1     229.0     227.0     218.0     211.8     209.3     213.2     224.6     222.5     218.9     213.9     229.8     216.5  
  — diluted (2)     234.9     232.8     230.2     218.0     211.8     209.3     217.3     227.3     222.5     221.7     232.9     236.2     216.5  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA                                                                                

Net earnings (loss) (1)
 
$
(90.8
)
$
(434.9
)
$
3.2
 
$
(39.8
)
$
(65.0
)
$
(165.1
)
$
(8.4
)
$
(25.5
)
$
(36.6
)
$
(33.9
)
$
(40.3
)
$
(445.9
)
$
(266.7
)
Income taxes     (18.6 )   (89.0 )   0.7     (8.1 )   (0.7 )   41.3     (1.7 )   (5.2 )   (7.5 )   (6.9 )   (2.1 )   (91.2 )   33.1  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBT     (109.4 )   (523.9 )   3.9     (47.9 )   (65.7 )   (123.8 )   (10.1 )   (30.7 )   (44.1 )   (40.8 )   (42.4 )   (537.1 )   (233.6 )
Integration costs related to acquisitions     3.0     4.0     —     —     —     —     —     0.4     —     0.4     22.8     21.1     —  
Other charges     136.4     541.4     (1.6 )   21.6     49.1     106.3     10.9     51.5     20.0     62.4     273.1     677.8     175.4  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBT     30.0     21.5     2.3     (26.3 )   (16.6 )   (17.5 )   0.8     21.2     (24.1 )   22.0     253.5     161.8     (58.2 )
Interest expense (income), net     (1.1 )   (3.1 )   (3.4 )   (1.5 )   (0.3 )   1.1     1.0     2.8     (4.8 )   3.8     (7.9 )   (1.1 )   (4.0 )
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBIT     28.9     18.4     (1.1 )   (27.8 )   (16.9 )   (16.4 )   1.8     24.0     (28.9 )   25.8     245.6     160.7     (62.2 )
Non cash option expense     —     —     —     —     —     —     1.6     2.1     —     3.7     —     —     —  
Amortization of intangible assets     29.0     23.2     12.4     12.1     12.0     12.0     7.2     7.7     24.5     14.9     125.0     95.9     48.5  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBIAT (1)     57.9     41.6     11.3     (15.7 )   (4.9 )   (4.4 )   10.6     33.8     (4.4 )   44.4     370.6     256.6     (13.7 )
      3.0%     2.2%     0.7%     -1.0%     -0.3%     -0.2%     0.5%     1.5%     -0.1%     1.0%     3.7%     3.1%     -0.2%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA (1)   $ 111.1   $ 89.9   $ 54.7   $ 28.2   $ 37.4   $ 38.0   $ 51.9   $ 79.7   $ 82.9   $ 131.6   $ 563.7   $ 469.4   $ 158.3  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
      5.7%     4.7%     3.4%     1.8%     2.3%     2.0%     2.6%     3.4%     2.6%     3.0%     5.6%     5.7%     2.4%  
   
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
2001, 2002 & 2003 comparative numbers reflect the impact of a change in accounting policy for asset retirement obligations.

Impact on 2003 is to reduce EBIAT and net earnings: Q1 - $0.2, Q2 - $0.2, Q3 - $0.2, Q4 - $0.3, FY - $0.9

Impact on 2002 is to reduce EBIAT and net earnings: Q1 - $0.1, Q2 - $0.2, Q3 - $0.2, Q4 - $0.2, FY - $0.7

Impact on 2001 is to reduce EBIAT and net earnings:   Q1 - $0.1, Q2 - $0.1, Q3 - $0.1, Q4 - $0.2, FY - $0.5

(2)
Weighted average # of shares excludes options, warrants (as of Q1 04) and convertible debt when there are losses, as they are anti-dilutive.

Convertible debt accretion must be deducted from net earnings to calculate diluted EPS, when the convertible debt is anti-dilutive.