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Additional Information
Market: TSX
Sector: Manufacturing
Epic: TSX:ATA
News: Latest news
Web Site: ATS Automation Tooling
Other Articles: 12-08-200928-04-2009 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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ATS Automation Tooling

ATS Automation Tooling

Founded in 1978, ATS uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems' needs of multinational customers in industries such as healthcare, computer/electronics, energy, automotive and consumer products.

Wednesday, August 12, 2009

Automated Tooling Systems continues to be hit by recession, first quarter figures down

company news image

Automation Tooling Systems Inc (TSX: ATA) said its customers and the markets it sells into continue to be negatively impacted by the current recession as it reported further falls in revenue and profit for the first quarter to end-June 2009.

Revenue from continuing operations fell to C$152.7 million from C$212.1 million in the previous first quarter. EBITDA dropped to 6.7 million from 22.1 million a year earlier.

ATS said it maintained a strong balance sheet, however, with net cash of C$86.6 million at the end of the first quarter compared to C$106.5 million at March 31 2009 and C$27.1 million at June 30 2008.

ASG customers have reduced their capital spending and/or are delaying programs to varying degrees depending on the market segment and some may experience financial difficulties. At its Photowatt division, tighter global credit markets have reduced available funding for solar installation projects.

The resulting reduction in demand for solar modules, in addition to increased global module capacity in the solar industry, have caused average selling prices to decrease and could result in sustained over-supply in fiscal 2010, it said.

“Operationally, ASG plans to continue the consolidation and restructuring of underperforming, non-strategic manufacturing operations. These closures will occur over the next several quarters as current customer commitments are completed or moved to other divisions,” the company added.

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