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ATS Automation Tooling Systems Reports Fourth Quarter Results
May 24, 2004 |Estimated reading time: Less than a minute
Cambridge, Ontario, Canada — ATS Automation Tooling Systems Inc. has reported its financial results for the three months ended March 31, 2004, including sharp increases in revenue, operating earnings, automation systems order bookings and order backlog.
Due to the significant negative impact of changes in foreign currency exchange rates, which reduced fourth quarter net earnings by an estimated $4.7 million (8 cents per share), and unusual charges of $5.9 million after income taxes (10 cents per share), net loss for the three months ended March 31, 2004 was $3.1 million (5 cents per share basic and diluted). Excluding unusual charges, net earnings were $2.8 million (5 cents per share) compared to $900,000 (2 cents per share) in the fourth quarter of last year.
ATS Automation Tooling Systems Inc. is the industry's leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries. For more information, visit www.atsautomation.com.