ATS Automation Tooling Systems Inc. (ATA.TO) reported that its first-quarter net income was C$9.8 million or C$0.11 per share, compared to a loss of C$5.0 million or C$0.06 per share in the year ago quarter.
Fiscal 2013 first quarter net income from continuing operations was C$11.8 million or C$0.13 per share compared to net income from continuing operations of C$6.2 million or C$0.07 per share for the first quarter of fiscal 2012.
Revenues grew 20% to C$152.2 million, from C$126.9 million in the first quarter a year ago.
Analysts polled by Thomson Reuters expected the company to report earnings of C$0.13 per share on revenues of C$161.82 million for the quarter. Analysts' estimates typically exclude special items.
First quarter revenues were 20% higher than in the corresponding period a year ago as a result of increased Order Backlog entering the first quarter compared to a year ago, partially offset by a longer performance period on certain customer programs and timing of the assembly and build phase of larger programs.
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