ATS Automation Tooling Systems Inc. (ATA.TO: Quote) 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.
Click here to receive FREE breaking news email alerts for ATS Automation Tooling Systems and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News