ATS Automation Tooling Systems Inc. (TSX:ATA) says a recent acquisition helped boost its third-quarter revenue 40 per cent from a year earlier, but higher finance and tax charges eroded its profit.
The company's net income for the three months ended Dec. 28 fell to $8.6 million or nine cents per share compared with a profit of $18.5 million or 21 cents per share a year earlier.
Revenue totalled $248.8 million, up from $178 million a year ago.
ATS said its acquisition of Process Automation Solutions, effective Sept. 1, added a global provider of engineering-based automation services.
Excluding PA's contribution, ATS Automation's revenue in the quarter ended Dec. 28 was $188.3 million, up six per cent from a year earlier.
PA also helped boost the company's adjusted earnings to $27.2 million or 18 cents per share, from $20.5 million or 15 cents per share
ATS Automation Tooling makes manufacturing equipment for a number of industrial sectors. It also has a solar-power segment that has been listed as a discontinued operation.
It employs 3,500 people at 27 manufacturing facilities and 47 offices in North America, Europe, Southeast Asia and China.
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