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ATS Reports Improving Performance
August 18, 2003 |Estimated reading time: Less than a minute
Cambridge, Ontario, Canada — ATS Automation Tooling Systems Inc. has reported net earnings of $2.2 million (4 cents per share basic and diluted), on revenues of $148.6 million for the three months ended June 30, 2003, as well as strong new automation systems order bookings of approximately $73 million in the opening six weeks of the second quarter.
Consolidated revenue was $148.6 million, up 4 percent from $143.4 million in the first quarter a year ago and remained highly diversified by industry and region. Cash flow from operating activities was $12.2 million, up 116 percent compared to the first quarter of last year. Cash, net of bank indebtedness, was $75.4 million versus $82.3 million at the start of the quarter. Earnings from operations were $3.8 million, a significant sequential improvement over the $1.7 million earned in the fourth quarter of fiscal 2003 but lower than $6.6 million in the same period of fiscal 2003. New automation systems order bookings were $105 million compared to $128 million in the first quarter of fiscal 2003.
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 including automotive, computer/electronics, healthcare, and consumer products. For more information, visit www.atsautomation.com.