ATS reports third quarter profit up from year ago, beats expectations

CAMBRIDGE, Ont. – ATS Automation Tooling Systems Inc. beat expectations as it reported its third-quarter profit rose compared with a year ago as it reduced costs.

The maker of automation systems says it earned $18.9 million or 20 cents per share for the quarter ended Dec. 27, up from $4.1 million or four cents per share a year earlier.

Revenue totalled $369.7 million, up from $367.2 million.

The company’s order backlog rose to $985 million compared with $939 million.

On an adjusted basis, ATS says it earned 30 cents per share for the quarter, up from an adjusted profit of 26 cents per share a year earlier.

Analysts on average had expected a profit of 24 cents per share, according to financial data firm Refinitiv.