Cambridge, Ontario (August 11, 2021) – ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”) today reported its financial results for the three months ended June 27, 2021.
First quarter highlights:
- Revenues increased 57.2% year over year to $510.6 million.
- Earnings from operations were $52.0 million (10.2% operating margin), compared to $21.1 million (6.5% operating margin) a year ago. Adjusted earnings from operations1 were $65.4 million (12.8% margin), compared to $29.7 million (9.1% margin) a year ago.
- Adjusted EBITDA1 was $77.9 million (15.3% adjusted EBITDA margin), compared to $39.2 million (12.1% adjusted EBITDA margin) a year ago.
- Earnings per share were 37 cents basic and diluted compared to 11 cents a year ago.
- Adjusted basic earnings per share1 were 48 cents compared to 17 cents a year ago.
- Order Bookings were $637 million, 96.0% higher than a year ago, reflecting a mix of organic growth and contributions from acquired companies.
- Order Backlog increased 37.3% to $1,248 million at June 27, 2021 compared to $909 million a year ago.
“First quarter performance featured strong organic revenue growth, contributions from strategic acquisitions, record Order Bookings and progress toward our margin expansion objective,” said Andrew Hider, Chief Executive Officer. “These results reflected good execution, and compared to a year ago, a more stable economic environment. We are proud of the ongoing efforts of the ATS team worldwide to address customer needs during the pandemic while maintaining our focus on continuous improvement through the ATS Business Model. Looking ahead, our record Order Backlog provides good revenue visibility, our balance sheet enables us to pursue our M&A strategy and we are positioned well to create long-term shareholder value.”
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