ATS reports $48.5M Q4 profit, up from $29.6M a year earlier, revenue up 8.3%
Written by The Canadian Press on May 16, 2024
CAMBRIDGE, Ont. — ATS Corp. reported a fourth-quarter profit of $48.5 million, up from $29.6 million a year earlier, as its revenue rose 8.3 per cent.
The maker of automation systems says the profit amounted to 49 cents per share for the quarter ended March 31, up from 32 cents per share in the same quarter last year.
Revenue for the quarter totalled $791.5 million, up from $730.8 million a year earlier.
On an adjusted basis, ATS says it earned 65 cents per share in its latest quarter, down from an adjusted profit of 73 cents per share in the same quarter last year.
The company’s order backlog stood at $1.79 billion at March 31.
ATS announced Wednesday a deal to buy Montreal-based Paxiom Group, an automated packaging machine company focused on the food and beverage, cannabis, and pharmaceutical industries.
This report by The Canadian Press was first published May 16, 2024.
Companies in this story: (TSX:ATS)
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