Business
ATS reports first quarter 2015 results
CAMBRIDGE, ON , Aug. 13, 2014 /CNW/ - ATS Automation Tooling Systems Inc. ( TSX: ATA ) (...
About this update from Ats Corporation
[{"type":"text","content":"\n\n\nCAMBRIDGE, ON, Aug. 13, 2014 /CNW/ - ATS Automation Tooling Systems Inc.\n (TSX: ATA) (\"ATS\" or the \"Company\") today reported financial results for the\n three months ended June 29, 2014. \n\n\nFirst Quarter Summary \n\n\n\nRevenues from continuing operations were $190.9 million, 27% higher than\n the first quarter of fiscal 2014. Excluding IWK revenues of $34.6\n million, revenues from continuing operations were $156.3 million, a 4%\n increase over the corresponding period a year ago;\n\n\nEBITDA1 was $20.9 million, compared to $23.5 million in the fourth quarter of\n fiscal 2014 and $15.8 million in the first quarter of fiscal 2014.\n Normalized for $3.0 million of acquisition-program related costs, first\n quarter fiscal 2015 EBITDA was $23.9 million.  Normalized for $2.2\n million of restructuring charges, first quarter fiscal 2014 EBITDA was\n $18.0 million;\n\n\nEarnings from continuing operations were $14.4 million (8% operating\n margin), compared to $17.2 million (9% operating margin) in the fourth\n quarter of fiscal 2014 and $12.7 million (8% operating margin) in the\n first quarter a year ago.  Adjusted earnings from continuing operations1 were $21.1 million (11% operating margin), compared to $15.9 (11%\n operating margin) in the first quarter a year ago;\n\n\nEarnings per share from continuing operations were 10 cents basic and\n diluted compared to 10 cents basic and diluted in the first quarter a\n year ago.  Adjusted basic earnings per share1 from continuing operations were 15 cents compared to 13 cents in the\n first quarter a year ago;\n\n\nOrder Bookings were $160 million, a 3% decrease over the corresponding\n period a year ago. Excluding IWK Order Bookings of $33 million, Order\n Bookings were $127 million compared to $165 million in the first\n quarter a year ago;\n\n\nPeriod end Order Backlog was $425 million, up 2% from $415 million in\n the first quarter a year ago. Higher Order Backlog reflected the\n addition of IWK's Order Backlog and bookings;\n\n\nThe Company's balance sheet and financial capacity to support growth\n remained strong, with cash net of debt in continuing operations of\n $75.2 million at June 29, 2014, unutilized credit facilities of $180.9\n million and $14.3 million of credit available under letter of credit\n facilities;\n\n\nThe Company announced it had en...