ATS Automation revenue jumps 40% in third quarter
By Canadian PressAutomation Machine Building ATS Automation
Acquisition boosted revenues but higher financing, tax items eat into earnings.
CAMBRIDGE, Ont. — ATS Automation Tooling Systems Inc. says a recent acquisition help boost its third-quarter revenue to $248.9 million, a 40 per cent increase from a year earlier, but higher finance and tax items eroded its profit.
Net income for the three months ended Dec. 28 fell to $8.6 million or nine cents per share from $18.8 million or 21 cents per share a year earlier. Adjusted earnings rose to $27.2 million or 18 cents per share, from $20.5 million or 15 cents per share a year before.
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