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Manufacturing orders, contracts, financial reports
News Release from: ATS Automation Tooling Systems
Edited by the Manufacturingtalk Editorial
Team on 18 November 2002
Four-fold increase in net earnings for
ATS
ATS Automation Tooling Systems today reported its financial results for the second quarter of fiscal 2003, including an 11% increase in revenue and a four-fold increase in net earnings
ATS Automation Tooling Systems today reported its financial results for the second quarter of fiscal 2003, including an 11% increase in revenue, a four-fold increase in net earnings and a 30% increase in new automation order bookings over the same period a year earlier At $2.4 million (4 cents per share basic and diluted) net earnings for the three months ended September 30, 2002 compared favourably with net earnings of $0.5 million (1 cent per share basic and diluted) in the same quarter of fiscal 2002
This article was originally published on Manufacturingtalk on 17 Mar 2004 at 8.00am (UK)
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"The summer quarter is traditionally a slow period for our industry because of customer vacations and plant shutdowns and this year, our customers were also confronted with an unusually high degree of global economic turbulence," said Klaus Woerner, ATS President and Chief Executive Officer.
"Given these constraints, ATS performed very well.
"Drawing on the strong automation backlog we had entering the quarter, we efficiently and profitably fulfilled a large number of automation orders, while securing new long-term work for both our automation systems and precision components groups.
"This helped to keep period end backlog at reasonable levels going into the third quarter.
"In addition, we made a very good showing at our industry's two largest trade shows, finalized plans to expand and enhance our global manufacturing footprint in Europe and China and launched our Spheral Solar Power business.
"For a traditionally subdued period, this was a remarkably productive quarter.".
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