Celestica reports loss, although profit is up
This wire service snippit in The Globe & Mail caught my eye:
“Celestica reports loss, although profit is up
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TORONTO — Celestica Inc. is reporting a net loss of $42.1-million (U.S.) in the third quarter as revenues rose 20 per cent, compared with a year earlier, to just under $2-billion. Analysts had been expecting revenue of $2.2-billion.”
Now my colleagues don’t always trust my accounting skills, so if you can figure out how a “reported loss” can also reflect an “increase in profit”, you’ll let me know?