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ATS Industrial Automation is a global leader integrator for EV battery, fixed energy storage, E-commerce packaging, electronic product assembly, and testing automation. Our customers are weary of production problems and want high-volume, high-speed capabilities so that they can deliver a quality product, on-time, and on-budget. With expertise in battery assembly, welding, vision, and process automation, ATS Industrial Automations provides the best route to scale their business. Our custom systems are modular and provide capabilities that enable the switching of products within the same production line. When every day matters, ATS Industrial Automation turns today’s innovation and automated processes into tomorrow’s reality.

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ATS Reports Third Quarter Fiscal 2019 Results

POSTED 02/06/2019

CAMBRIDGE, ON - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today reported financial results for the three and nine months ended December 30, 2018. 
 
Third quarter summary 

  • Fiscal 2019 third quarter revenues were $321.4 million, 16% higher than a year ago. Fiscal 2019 year-to-date revenues were $905.0 million, 11% higher than a year ago.
  • Fiscal 2019 third quarter earnings from operations were $38.5 million (12% operating margin), compared to $14.8 million (5% operating margin) a year ago.  Fiscal 2019 year-to-date earnings from operations were $84.5 million (9% operating margin), compared to $59.9 million (7% operating margin) a year ago.
  • Adjusted earnings from operations1 were $46.7 million (15% margin) for the third quarter of fiscal 2019, compared to $29.3 million (11% margin) a year ago, primarily reflecting higher revenues, improved gross margin, and a recovery of stock-based compensation expenses. Fiscal 2019 year-to-date adjusted earnings from operations1 were $104.6 million (12% margin), compared to $84.4 million (10% margin) a year ago, primarily reflecting higher revenues and gross margin.
  • EBITDA1 was $48.7 million (15% EBITDA margin) for the third quarter of fiscal 2019, compared to $24.3 million (9% EBITDA margin) a year ago.  Fiscal 2019 year-to-date EBITDA1 was $114.6 million (13% EBITDA margin), compared to $87.2 million (11% EBITDA margin) a year ago.
  • Fiscal 2019 third quarter earnings per share were 27 cents basic and diluted compared to 7 cents basic and diluted a year ago.  Fiscal 2019 year-to-date earnings per share were 56 cents basic and diluted compared to 34 cents basic and diluted a year ago.  Adjusted basic earnings per share1 were 33 cents for the third quarter of fiscal 2019 compared to 18 cents a year ago.  Fiscal 2019 year-to-date adjusted basic earnings per share1 were 72 cents compared to 53 cents a year ago.
  • Fiscal 2019 third quarter Order Bookings were a record $397 million, a 28% increase from a year ago.  Fiscal 2019 year-to-date Order Bookings were $1.1 billion, a 33% increase from a year ago.
  • Period end Order Backlog was a record $926 million, 34% higher than at December 31, 2017.
  • The Company's balance sheet and financial capacity to support growth remained strong, with unutilized credit facilities of $636.8 million.
  • On October 31, 2018, the Company completed its acquisition of Construction, Machine- & Werkzeugbau GmbH & Co. KG, and KMW GmbH (collectively, "KMW"). See "Business Acquisition: KMW".
  • On December 6, 2018, the Company announced that it had acquired substantially all of the intellectual property assets of Transformix Engineering Inc. for $10 million. See "Transformix I.P.".
  • On December 19, 2018, the Company entered into a definitive agreement to acquire Comecer S.p.A. ("Comecer"). See "Business Acquisition: Comecer".