ATS Automation sales, profits rise for 2014
Cambridge-based automation giant sees revenues top $200 million for fiscal year.0
Cambridge, ON-based ATS Automation Tooling Systems Inc. announced that its books have significantly improved over the past quarter and since this time last year. According to its recent fiscal 2014 financial results, ended March 31, 2014, the system integration company saw its revenues from continuing operations grow to $200.7 million, 31 percent higher than last year and up 13 percent from the third quarter. Similarly, the company’s earnings were $17.2 million, compared to $16.7 million in the their quarter and $14 million in the fourth quarter of 2013.
A major factor in company’s improved balance sheet has been the acquisition last year of IWK Verpackungstechnik GmbH, a German-based automation company that specializes in packaging machinery for the pharmaceutical and personal-care industries. IWK added revenues of $29.6 million plus back order bookings that pushed the total order backlog to a record $474 million. In addition, the company said revenue from customers in the consumer products and electronics sectors climbed 216 percent in the fourth quarter compared to a year earlier, while revenue from the energy sector increased 94 percent.