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The Canadian Press - ONLINE EDITION
ATS Automation net income rises in fiscal third quarter
CAMBRIDGE, Ont. - ATS Automation Tooling (TSX:ATA) says it recorded net income of $17.6 million from continuing operations, or 20 cents per share, in its third quarter ended Jan. 1. 2012.
The company also says it lost $8 million, or 9 cents per share, during the quarter from its discontinued Photowatt operations.
Revenues from the continuing operation, Automation Systems Group, were $149.1 million, or 23 per cent higher than in the corresponding period a year ago.
On Nov. 8, 2011 a French bankruptcy court placed Photowatt France into a recovery proceeding under the supervision of a court-appointed trustee.
The objective of the recovery process is to explore opportunities for PWF's operations in an effort to preserve jobs and maximize value.
During the recovery process, ATS expects to provide funding for a period of three to six months.
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