ATS Reports Fourth Quarter and Annual Fiscal 2015 Results
CAMBRIDGE, ON - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today reported financial results for the three and twelve months ended March 31, 2015.
Fourth Quarter Summary
- Revenues from continuing operations were $289.4 million, 44% higher than a year ago, or $218.9 million excluding PA, 9% higher than last year (see "Business Acquisition – PA")
- Adjusted earnings from continuing operations1 were $34.7 million (12% margin), compared to $22.2 million (11% margin) in the fourth quarter a year ago. Earnings from continuing operations were $22.6 million (8% operating margin), compared to $17.2 million (9% operating margin) in the fourth quarter a year ago
- EBITDA1 was $35.2 million (12% margin) compared to $23.5 million (12% margin) a year ago. Excluding $1.6 million of acquisition-related costs and $1.4 million of restructuring and severance costs, EBITDA was $38.2 million (13% margin), up from $24.7 million (12% margin) a year ago which excluded $0.2 million of acquisition-related costs and $1.0 million of restructuring charges
- Adjusted basic earnings per share from continuing operations1 increased to 24 cents compared to 17 cents in the fourth quarter a year ago
- Order Bookings1 were $317 million, 61% higher than a year ago. Excluding PA, Order Bookings were $247 million, 25% higher than last year
- Period end Order Backlog1 was $632 million, up 33% from $474 million at March 31, 2014. Higher Order Backlog primarily reflected the addition of PA as well as higher Order Bookings in life sciences and transportation
- The Company's balance sheet and financial capacity to support growth remained strong, with unutilized credit facilities of $377 million and $5.8 million of credit available under letter of credit facilities
"Fourth quarter performance was strong, with record Order Bookings, revenues and continued strong operating margins," said Anthony Caputo, Chief Executive Officer. "Organic growth was strong, PA's performance was positive and the early synergies resulting from our combined businesses are encouraging. We remain focused on our grow, expand and scale strategies to create value organically and through acquisition."
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services including pre-automation and after-sales services to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. Founded in 1978, ATS employs approximately 3,500 people at 26 manufacturing facilities and 47 offices in North America, Europe, Southeast Asia and China. The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA.