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ATS Reports First Quarter Results
August 16, 2004 |Estimated reading time: Less than a minute
Cambridge, Ontario, Canada — ATS Automation Tooling Systems Inc. reports its financial results for the three months ended June 30, 2004.
These results include a 29 percent increase in consolidated revenue, 46 percent growth in automation systems order backlog, a 30 percent increase in net earnings, and record performance by its Solar Group.
The Company estimates changes in foreign currency exchange rates reduced first quarter net earnings by $4.5 million (7 cents per share) compared to the first quarter of fiscal 2004 and reduced revenue by $10.5 million.
Net earnings increased 30 percent to $2.8 million (5 cents basic and diluted) from $2.1 million (4 cents basic and diluted) in the first quarter of fiscal 2004.
ATS Automation Tooling Systems Inc. is the industry's leading designer and producer of turnkey automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries including: automotive, computer/electronics, healthcare and consumer products. For more information, visit www.atsautomation.com.