ATS Automation sees lower profit, revenue in fourth quarter

ATS Automation Tooling Systems Inc. reports it had $8.9 million of net income and $153.2 million of revenue from continuing operations in the fourth quarter of its 2013 financial year, both down from the same time last year.

The Ontario-based company, which primarily makes equipment for manufacturers, said its revenue from continuing operations was down from $173.5 million a year earlier and net income was down from $10.9 million.

That was partially offset by a smaller loss at its discontinued solar energy operations, which lost $600,000 with $1.6 million of revenue in the quarter ended March 31.

In the fourth quarter of fiscal 2012, ATS had a loss of $7.9 million and $9.8 million of revenue from its discontinued operations.

Total net income from continuing and discontinued operations was $8.3 million, or nine cents per share. A year earlier, the quarter produced $3 million or four cents per share of net income from continuing and discontinued operations.

ATS said it booked $170 million in orders during the fourth quarter _ nine per cent decline from a year earlier and a two per cent decrease from the previous quarter ended Dec. 31.