ATS Automation Q3 profit tops on transportation boost

Wed Feb 8, 2012 6:59am EST
 
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(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)