ATS reports third quarter results for fiscal 2011

Automation Tooling Systems (ATS) has reported its financial results for the three and nine months ended 26 December 2010, in which consolidated revenues were $192.5m (£119.4m), up from $162m in the previous quarter and $138.1m in the same period a year ago.

Consolidated loss from operations was $8.5m compared to earnings from operations of $5.5m in the second quarter of fiscal 2011 and $4.7m in the third quarter of 2010.

Third quarter loss per share was $0.14 compared to per share earnings of $0.04 (basic and diluted) in the second quarter of the fiscal year and per share earnings of $0.04 (basic and diluted) in the same period a year ago.

The company’s balance sheet was strong with cash net of debt of $95.3m at 26 December 2010.