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Feb 5, 2020

ATS reports $4.1M Q3 profit, revenue up 14% compared with a year ago

A factory worker uses a power drill to assemble components on a diesel engine at the Cummins Inc. Seymour Engine Plant in Seymour, Indiana, U.S., on Tuesday, Jan. 29, 2019.

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CAMBRIDGE, Ont. -- ATS Automation Tooling Systems Inc. reported a profit of $4.1 million in its latest quarter as its revenue grew 14 per cent compared with a year earlier.

The company's profit amounted to four cents per share for the quarter ended Dec. 29 compared with a profit of $25.1 million or 27 cents per share a year earlier.

Revenue in what was the company's third quarter totalled $367.2 million, up from $321.4 million.

Excluding revenue from acquisitions, third-quarter revenue at ATS was up five per cent compared with a year ago.

ATS says it earned an adjusted profit 26 cents per share in its latest quarter, down from an adjusted profit of 33 cents per share a year earlier.

Analysts on average had expected a adjusted profit of 22 cents per share for the quarter, according to financial markets.