Business
ATS Reports Annual and Fourth Quarter Fiscal 2013 Results
CAMBRIDGE, ON, May 23, 2013 /CNW/ - ATS Automation Tooling Systems Inc. ( TSX: ATA ) ("ATS" o...
About this update from Ats Corporation
[{"type":"text","content":"\n\n\nCAMBRIDGE, ON, May 23, 2013 /CNW/ - ATS Automation Tooling Systems Inc.\n (TSX: ATA) (\"ATS\" or the \"Company\") today reported financial results for the\n three and 12 months ended March 31, 2013 for its continuing operations\n (Automation Systems Group or \"ASG\") and discontinued operations\n (\"Solar\").\n\n\nFourth Quarter Summary - Continuing Operations\n\n\n\nRevenues were $153.2 million, 6% higher than the third quarter of fiscal\n 2013 and 12% lower than the corresponding period a year ago;\n\n\n\n\nEarnings from operations were $14.0 million (9% operating margin)\n compared to $13.6 million (9% operating margin) in the third quarter of\n fiscal 2013 and $16.1 million (9% operating margin) in the\n corresponding period a year ago;\n\n\n\n\nEBITDA was $17.3 million (11% EBITDA margin) compared to $16.6 million\n (12% EBITDA margin) in the third quarter of fiscal 2013 and $19.0\n million (11% EBITDA margin) in the corresponding period a year ago;\n\n\n\n\nOrder Bookings were $170 million, a 2% decrease from $173 million in the\n third quarter of fiscal 2013 and a 9% decrease from the fourth quarter\n of fiscal 2012;\n\n\n\n\nPeriod end Order Backlog was a record $398 million, an increase of 3%\n from $388 million in the third quarter of fiscal 2013 and an increase\n of 4% from $382 million a year ago;\n\n\n\n\nThe Company's balance sheet was strong with cash net of debt of $104.3\n million with $199.4 million of unutilized credit available under the\n Credit Agreement and another $18.9 million available under letter of\n credit facilities.\n\n\n\n\"Fourth quarter operating results were solid,\" said Anthony Caputo,\n Chief Executive Officer.  \"We achieved strong Order Bookings and ended\n the quarter with record Order Backlog. We are focused on our value\n creation strategy to grow, expand and scale. We have a strong operating\n foundation, a clear strategy for growth and the financial flexibility\n to support our plans. \"\n\n\nFinancial Results\nIn millions of Canadian dollars, \nexcept per share data\n\n\n\n\n\n \n\n\n3 months \nended\nMarch 31, \n2013\n\n\n3 months\nended\nMarch 31,\n2012\n\n\n12 months \nended\nMarch 31, \n2013\n\n\n12 months\nended\nMarch 31,\n2012\n\n\n\n\nRevenues \n\n\nContinuing Operations\n\n\n$\n\n\n            153.2...