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.