ATS Reports Third Quarter Fiscal 2021 Results

Cambridge, Ontario (February 3, 2021) – ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”) today reported its financial results for the three and nine months ended December 27, 2020.

 

Third quarter highlights:
• Revenues increased 1% year over year to $369.7 million.
• Earnings from operations were $32.3 million (9% operating margin), compared to $10.4 million (3% operating margin) a year ago. Adjusted earnings from operations1 were $43.8 million (12% margin), compared to $37.5 million (10% margin) a year ago.
• EBITDA1 was $49.7 million (13% EBITDA margin), compared to $26.8 million (7% EBITDA margin) a year ago.
• Earnings per share were 20 cents basic and diluted compared to 4 cents a year ago.
• Adjusted basic earnings per share1 were 30 cents compared to 26 cents a year ago.
• Order Bookings were $435 million, 18% higher than a year ago.
• Order Backlog increased 5% to $985 million at December 27, 2020 compared to $939 million a year ago.

 

“Third quarter performance featured record Order Bookings and Order Backlog with growth in life sciences and consumer products,” said Andrew Hider, Chief Executive Officer. “Operationally, our teams drove meaningful margin expansion in line with our long-term plan despite the challenges brought on by the Covid-19 environment. Our record Order Backlog and strong balance sheet position us well to execute our value creation strategy, build, grow and expand.”

 

Year-to-date highlights:

• Revenues decreased 2% year over year to $1,030.1 million.
• Earnings from operations were $76.8 million (7% operating margin), compared to $70.7 million (7% operating margin) in the prior year. Adjusted earnings from operations1 were $113.6 million (11% margin), compared to $118.0 million (11% margin) in the prior year.
• EBITDA1 was $130.3 million (13% EBITDA margin), compared to $123.8 million (12% EBITDA margin) in the prior year.
• Earnings per share was 44 cents basic and diluted compared to 43 cents in the prior year.
• Adjusted basic earnings per share1 were 73 cents compared to 80 cents a year ago.
• Order Bookings were $1,163 million, compared to $1,112 million a year ago.

 

Mr. Hider added, “Our results in the first nine months of fiscal 2021 reflect solid Order Bookings, revenues and operating margins despite the challenging environment. During the quarter we made substantial progress on the previously announced transportation business reorganization plan. We initiated the tender offer process to acquire CFT Group, a company with a proven track record that participates in an attractive, regulated growth market. Going forward, we will continue to drive improvement in our operations, to bring increased value to our customers with the goal of creating long-term shareholder value”

 

Download the below PDF to see the full Press Release.

View PDF
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