TORONTO -- Onex Corp. lost $287 million in the third quarter as the conglomerate was hit by writedowns and lower profits in its automotive businesses and continued losses at electronics assembler Celestica Inc. The loss of $1.88 a share compares with a profit of $34 million or 21 cents per share a year earlier.

The Toronto-based company said yesterday that July-September revenue declined to $4.3 billion, down 18 per cent, from $5.2 billion a year earlier.

The reduction was largely attributed to Celestica, which continues to be hurt by a sluggish market for its electronics services, and to automotive parts suppliers hurt by lower production at vehicle manufacturers, particularly Ford Motor Co.

"Our third-quarter results show the impact of ongoing industry conditions that certain of our companies operate in," Onex chief executive Gerald Schwartz said.

Schwartz said essentially all of the third-quarter loss can be blamed on "significant non-cash charges" at Celestica and autoparts maker J. L. French Automotive Castings Inc., and a loss on the disposition of the Canadian operations of metal products firm Magnatrax.

A writedown in goodwill at J. L. French totalled $214 million while restructuring charges at Celestica amounted to $67 million.

Magnatrax's Canadian subsidiary, Vicwest Corp., emerged from bankruptcy court protection in the quarter with its ownership transferred to creditors, leaving Onex with a $46-million loss on discontinued operations.

Shares in Onex closed down 35 cents to $14.50.