Cambridge, Ontario (May 20, 2021) – ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”) today reported its financial results for the three and 12 months ended March 31, 2021.
Fourth quarter highlights:
• Revenues increased 4.7% year over year to $399.9 million.
• Earnings from operations were $42.8 million (10.7% operating margin), compared to $24.9 million (6.5% operating margin) a year ago. Adjusted earnings from operations1 were $49.5 million (12.4% margin), compared to $39.3 million (10.3% margin) a year ago.
• EBITDA was $60.2 million (15.1% EBITDA margin), compared to $43.2 million (11.3% EBITDA margin) a year ago.
• Earnings per share were 26 cents basic and diluted compared to 14 cents a year ago.
• Adjusted basic earnings per share1 were 34 cents compared to 26 cents a year ago.
• Order Bookings were $463 million, 30.1% higher than a year ago, primarily reflecting organic growth.
• Order Backlog increased 23.1% to $1,160 million at March 31, 2021 compared to $942 million a year ago and included $166 million of CFT Order Backlog acquired in March 2021.
“Fourth quarter performance featured record Order Bookings and Order Backlog as well as strong operating margins despite a challenging environment,” said Andrew Hider, Chief Executive Officer. “ATS starts the new fiscal year with a solid base of business and balance sheet strength to execute our Build, Grow and Expand value creation strategy.”
• Revenues were $1,430.0 million compared to $1,429.7 million last year.
• Earnings from operations were $119.6 million (8.4% operating margin), compared to $95.6 million (6.7% operating margin) in the prior year. Adjusted earnings from operations1 were $163.2 million (11.4% margin), compared to $157.4 million (11.0% margin) in the prior year.
• EBITDA was $190.6 million (13.3% EBITDA margin), compared to $167.0 million (11.7% EBITDA
• margin) in the prior year.
• Earnings per share were 70 cents basic and 69 cents diluted compared to 57 cents in the prior year.
• Adjusted basic earnings per share1 were $1.07 compared to $1.06 a year ago.
• Order Bookings were $1,626 million, compared to $1,468 million a year ago.
Mr. Hider added, “The pandemic environment highlighted the resiliency of our business and I am very proud of how our people mobilized to creatively serve our customers. At the same time, we set the stage for additional growth through our M&A strategy with the acquisition of CFT in late March and a definitive agreement to acquire BioDot in the new fiscal year. CFT joins our MARCO operations to serve the regulated food and beverage equipment market. BioDot will expand our Life Sciences capabilities in precise, low volume fluid dispensing and enhances our position in the point-of-care and clinical diagnostics lab automation end-markets. We look forward to the contributions of these businesses and driving improvement across all operations through the ATS Business Model. Our focus remains on bringing value to our customers and value to our shareholders.”
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