ATS Automation Q3 profit tops on transportation boost
(Reuters) - Canada's ATS Automation Tooling Systems Inc's (ATA.TO: Quote) quarterly profit rose more than six fold helped by a strong growth in its transportation business.
Net income from continuing operations rose to C$17.6 million ($17.69 million), or 20 Canadian cents a shares, from C$3 million, or 3 Canadian cents a share, last year.
Total revenue from continuing operations rose 23 percent to C$149.1 million for the third quarter ended January 1.
Revenue from its transportation business saw a four-fold jump at C$66.8 million, while sales from its energy business halved to C$16.1 million.
The results exclude its solar unit Photowatt.
ATS serves customers in industries such as life sciences, computer electronics, energy, transportation and consumer products.
Shares of the company closed at C$7.10 on Tuesday on the Toronto Stock Exchange.
($1 = 0.9949 Canadian dollars)
(Reporting by Ankur Banerjee in Bangalore; Editing by Sreejiraj Eluvangal)
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