ATS Reports Continued Strong Automation Systems Order Bookings in Second Quarter
CAMBRIDGE, ON, Sept. 18 /CNW/ - ATS Automation Tooling Systems Inc. today announced that it has added substantially to its new automation systems order bookings to date in the second quarter of fiscal 2004.
For the first 11 weeks of this current quarter, which ends September 30, 2003, new automation systems order bookings stood at $112 million, up from $73 million in the first six weeks of the quarter. These new orders were generated in all of the Company's key markets including automotive, healthcare, computer-electronics and consumer products.
"The continuation of solid order booking activity in the second quarter is very encouraging," said Klaus Woerner, ATS President and Chief Executive Officer, "particularly given the fact that the summer quarter is traditionally quiet. We believe these results reflect ATS's excellent competitive position in the marketplace and the strategies we've implemented over the last two years to enhance our technologies, reinforce our global sales force and expand our strategic marketing efforts."
Mr. Woerner added that the Company's new order prospect list remains "very strong, which indicates that ATS could be in line for substantially renewed growth momentum this fall. With our production capacity intact and new standard automation technologies in place, we expect to fully capture the benefits of market renewal and draw these to our bottom line."
ATS will host is 10th annual meeting of shareholders today at Kitchener's Conestoga College at 4pm eastern time. This news release was issued to enable the Company to more fully discuss current market conditions with its shareholders.
ATS Automation Tooling Systems Inc. (www.atsautomation.com) is the industry's leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries including: automotive, computer/electronics, healthcare, and consumer products. The Company also makes precision components and sub-assemblies using its own custom-built manufacturing systems, process knowledge and automation technology. Through Photowatt International S.A., and Spheral Solar Power Inc., ATS is an emerging leader in the rapidly growing market for solar energy cells and modules. ATS employs approximately 3,500 people at 25 facilities in Canada, the United States, Europe and Asia-Pacific. The Company's shares are traded on The Toronto Stock Exchange under the symbol ATA.
Certain forward looking statements are made in this news release and accompanying MD&A, including statements regarding possible future business. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ATS's products, technologies, customer requirements and other risks detailed from time to time in ATS's periodic reports filed with Canadian regulatory authorities.
For further information:
Ron Jutras, Executive Vice President and Chief Financial Officer
(519) 653 6500