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Posted Thursday November 8, 2018


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xQuarterly

ATS Reports Second Quarter Fiscal 2019 Results

ATS Automation Tooling Systems Inc. reported financial results for the three and six months ended September 30, 2018.

Second quarter summary

• Fiscal 2019 second quarter revenues were $283.6 million, 3% higher than a year ago, primarily reflecting foreign exchange rate changes. Fiscal 2019 year-to-date revenues were $583.6 million, 8% higher than a year ago.

• Fiscal 2019 second quarter earnings from operations were $19.0 million (7% operating margin), compared to $23.9 million (9% operating margin) a year ago. Fiscal 2019 year-to-date earnings from operations were $46.0 million (8% operating margin), compared to $45.2 million (8% operating margin) a year ago.

• Adjusted earnings from operations1 were $25.4 million (9% margin) for the second quarter of fiscal 2019, compared to $28.8 million (10% margin) a year ago, primarily reflecting increased stock compensation expenses, partially offset by higher revenues and gross margin. Fiscal 2019 year-to-date adjusted earnings from operations1 were $57.9 million (10% margin), compared to $55.1 million (10% margin) a year ago, primarily reflecting higher revenues and gross margin, partially offset by higher stock compensation expenses and increased selling, general and administrative expenses.

• EBITDA1 was $29.0 million (10% EBITDA margin) for the second quarter of fiscal 2019, compared to $32.8 million (12% EBITDA margin) a year ago. Fiscal 2019 year-to-date EBITDA1 was $65.8 million (11% EBITDA margin), compared to $63.0 million (12% EBITDA margin) a year ago.

• Fiscal 2019 second quarter earnings per share were 11 cents basic and diluted compared to 15 cents basic and diluted a year ago. Fiscal 2019 year-to-date earnings per share were 29 cents basic and diluted compared to 27 cents basic and diluted a year ago. Adjusted basic earnings per share1 were 17 cents for the second quarter of fiscal 2019 compared to 18 cents a year ago. Fiscal 2019 year-to-date adjusted basic earnings per share1 were 39 cents compared to 34 cents a year ago.

• Fiscal 2019 second quarter Order Bookings were $355 million, a 38% increase from a year ago. Fiscal 2019 year-to-date Order Bookings were $713 million, a 36% increase from a year ago.

• Period end Order Backlog was a record $830 million, 28% higher than at October 1, 2017.

• The Company's balance sheet and financial capacity to support growth remained strong, with unutilized credit facilities of $618.5 million.

• Subsequent to the second quarter, on October 31, 2018, the Company completed its acquisition of Konstruktion, Maschinen- & Werkzeugbau GmbH & Co. KG, and KNW GmbH (collectively, "KMW"). See "Business Acquisition: KMW".














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Copyright, 2018

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