May 24, 2012 / 11:25 AM / 6 years ago

UPDATE 1-Canada's ATS Automation posts profit on lower solar loss

May 24 (Reuters) - Canada’s ATS Automation Tooling Systems Inc, which makes factory automation systems and solar energy equipment, reported a quarterly profit, aided by growth at its transportation business and a narrower loss at its solar operations.

Fourth-quarter net income was C$3 million, or 4 Canadian cents per share, compared with a loss of C$79.5 million, or 91 Canadian cents per share, last year.

ATS also serves customers in industries such as life sciences, computer electronics, energy and consumer products.

Loss from discontinued operations was C$7.9 million compared with C$93.9 million a year earlier. During the quarter, a French court appointed a buyer for its solar panel unit in the country.

Total revenue from continuing operations rose 17 percent to C$173.5 million.

Transportation revenue more than doubled to C$74 million, while sales at its life sciences unit increased 3 percent to C$57 million.

ATS shares closed at C$8.91 on the Toronto Stock Exchange on Wednesday.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below