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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 system
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ATS Reports Third Quarter Fiscal 2019 Results
POSTED 02/06/2019
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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".