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ATS Automation reports $300 million revenue

ATS Automation Tooling Systems has reported revenue of $300 million for the quarter ending July 1, 2018.

The company says the $300 million is 14 percent higher than the same quarter last year.

Earnings from operations were $27 million (9 percent operating margin), compared to $21.3 million (8 percent operating margin) a year ago. 

Adjusted earnings from operations1 were $32.6 million (11 percent margin), compared to $26.3 million (10 percent margin) a year ago, primarily reflecting higher revenues and improved gross margin compared to a year ago.

Gross profit – EBITDA – was $36.8 million (12 percent EBITDA margin), compared to $30.2 million (11 percent EBITDA margin) in the first quarter of fiscal 2018.

Earnings per share were 18 cents basic and diluted compared to 12 cents basic and diluted a year ago. First quarter adjusted basic earnings per share1 were 22 cents compared to 16 cents a year ago.

Order Bookings were $358 million, a 35 percent increase from the first quarter of fiscal 2018.

Period end Order Backlog was a record $789 million, 16 percent higher than at July 2, 2017.

ATS says its balance sheet – and its financial capacity to support growth – remained strong, with unutilized credit facilities of $629.5 million.

Andrew Hider, ATS CEO, says: “Our first quarter performance featured improvements in our financial value drivers including year-over-year growth in Order Bookings, revenues and margin expansion.

“We finished the quarter with record Order Backlog and have continued to advance the ATS Business Model. Our balance sheet is strong and we are well positioned to execute on our value creation strategy: Build, Grow and Expand, to drive long-term shareholder value.”