August 12, 2009 / 11:18 AM / in 8 years

UPDATE 1-ATS Automation Q1 profit sinks

* Q1 EPS C$0.00 vs C$0.17 year ago

* Revenue falls 28 pct

Aug 12 (Reuters) - ATS Automation Tooling Systems Inc ATA.TO posted lower quarterly results on Wednesday, hurt by falling revenues at both its segments.

At Photowatt Technologies, which manufactures solar ingots, wafers, cells and modules, low demand has extended into the first quarter, while automation systems group is seeing the impact of the economic slow-down in its order bookings, the company said.

The manufacturing and industrial equipment maker earned first-quarter net income of C$325,000, or breakeven per share, compared with C$12.9 million, or 17 Canadian cents a share, in the year-ago quarter.

Order bookings at the automation systems group, which makes automated manufacturing and assembly systems, fell 43 percent to C$96 million, reflecting fewer opportunities as customers reduced capital spending and/or delayed programs due to the global economic recession.

The Cambridge, Ontario-based company said revenue fell 28 percent to C$152.7 million.

ATS shares closed at C$4.88 Tuesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Aradhana Aravindan)

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