ATS Reports Fourth Quarter and Fiscal 2019 Results

CAMBRIDGE, ON /CNW/- ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today reported financial results for the three and twelve months ended March 31, 2019.

Fourth quarter highlights:

• 收入增长了17％，达到3.486亿美元。收入的有机增长为13％，收购有4％。
• 运营的收入为3030万美元（运营利润率为9％），而一年前的2550万美元（运营利润率为9％）。
• Adjusted earnings from operations1 were $38.2 million (11% margin), compared to $32.8 million (11% margin) a year ago.
• EBITDA1为4260万美元（EBITDA利润率为12％），而一年前为3480万美元（EBITDA利润率为12％）。
• 每股收益为20美分，而稀释为16美分。调整后的每股基本收益为26美分，而一年前为22美分。
• 订单预订为2.98亿美元，比去年同期低14％。除了获得的企业外，第四季度订单预订为2.69亿美元。
• Order Backlog increased 21% to $904 million at March 31, 2019 compared to $746 million a year ago.

"Our fourth quarter featured growth in revenues and earnings as we continued to execute our value creation strategy and drive continuous improvement through our ABM," said Andrew Hider, Chief Executive Officer. "On February 28, we added significant capability by completing the acquisition of Comecer S.p.A., a leader in advanced aseptic containment and processing systems for the nuclear medicine and pharmaceutical industries. Coupled with our existing business serving life science customers, we have created a sizeable new platform that we intend to grow organically and inorganically in the coming years."

Annual fiscal 2019 highlights:

• Revenues increased 12% to a record $1,253.6 million. Organic growth in revenues was 11% with 1% coming from acquisitions.
• 运营的收入为1.148亿美元（运营利润率为9％），而上一年的8550万美元（营业利润率为8％）。
• Adjusted earnings from operations1 were $142.8 million (11% margin), compared to $117.3 million (11% margin) in the prior year.
• EBITDA1 was $157.2 million (13% EBITDA margin), compared to $122.1 million (11% EBITDA margin) in the prior year.
• Earnings per share increased 52% to 76 cents basic from 50 cents. Adjusted basic earnings per share1 grew 32% to 98 cents from 74 cents.
• 订单预订增长了19％，达到创纪录的140.8亿美元。订单预订的有机增长为16％，收购3％。

Mr. Hider added, "Fiscal 2019 was a successful year with positive momentum leading to solid organic growth through the addition of new customers and the expansion of long-term customer relationships in our diversified markets. This performance reflected the hard work and dedication of our team and their ongoing commitment to the ATS Business Model. Going forward, we have significant Order Backlog and a strong balance sheet which we continue to put to work through internal investment, innovation, strategic acquisitions and share repurchases when appropriate."

Fourth Quarter
Fiscal 2019 fourth quarter revenues were 17% higher than in the corresponding period a year ago and included $10.5 million of revenues earned by KMW and Comecer since acquisition. Excluding KMW and Comecer, fourth quarter revenues were $338.1 million, a 13% increase compared to the corresponding period a year ago, primarily reflecting Order Backlog, which was 34% higher entering the fourth quarter of fiscal 2019 compared to a year ago. Revenues generated from construction contracts and from services both increased 17% compared to a year ago.

按市场，由于高阶积压量，在2019财年的第四季度通过改进的订单预订从新的和现有客户，在较小程度上获得的收入，Comecer赚取的收入是，生命科学市场产生的收入增长了46％。自2019年2月28日收购以来。运输市场的收入增长了18％，主要与2019财年第一季度授予的EV企业计划和KMW收入有关。2019财年的2019财年第四季度收入与一年前相比，消费产品和电子产品的收入下降了29％，这是由于较低的订单积压进入2019财年的第四季度。能源市场的第四季度收入下降了17％，主要是由于计划执行时间的时间。

2019财年第四季度收益操作s were $30.3 million (9% operating margin) compared to $25.5 million (9% operating margin) in the fourth quarter of fiscal 2018. Fourth quarter fiscal 2019 earnings from operations included $1.1 million of incremental costs related to the Company's acquisition activity and $6.8 million related to amortization of identifiable intangible assets recorded on business acquisitions. Included in fourth quarter fiscal 2018 earnings from operations were $2.2 million of restructuring costs and $5.1 million related to amortization of identifiable intangible assets recorded on business acquisitions. Excluding these items in both comparable quarters, fourth quarter fiscal 2019 adjusted earnings from operations were $38.2 million (11% margin), compared to adjusted earnings from operations of $32.8 million (11% margin) a year ago. Fourth quarter fiscal 2019 adjusted earnings from operations reflected higher revenues and improved gross margin, offset by higher selling, general and administrative expenses, and increased stock compensation expenses (see "Stock-based compensation").

Depreciation and amortization expense was $12.3 million in the fourth quarter of fiscal 2019, compared to $9.3 million a year ago. The increase primarily reflected depreciation of internal development projects and incremental amortization of acquisition-related intangible assets due to the acquisitions of KMW and Comecer.

EBITDA在2019财年第四季度为4260万美元（EBITDA利润率为12％），而2018财年第四季度为3,480万美元（EBITDA利润率为12％）。EBITDA的主要增长主要回升了更高的收入和较高的收入，并改善了Grosss Margin，部分相抵消了，部分取决于更高的收益，而较高的收入则取消了更高的抵消。与一年前相比，销售，一般和行政费用以及股票补偿费用。不包括与收购相关的费用，2019年第四季度EBITDA为4,370万美元（EBITDA利润率为13％）。相比之下，2018年第四季度EBITDA不包括重组成本，为3,700万美元（EBITDA利润率为12％）。

Order Bookings
Fourth quarter fiscal 2019 Order Bookings were $298 million, 14% lower than fourth quarter fiscal 2018 Order Bookings. Excluding KMW and Comecer, fourth quarter Order Bookings were $269 million, which primarily reflected lower consumer products & electronics and transportation Order Bookings compared to the prior year period when certain enterprise Order Bookings were recorded in those markets.

Order Backlog
At March 31, 2019, Order Backlog was $904 million, 21% higher than at March 31, 2018. Order Backlog growth was primarily driven by higher Order Bookings in the life sciences and transportation markets in fiscal 2019 and Order Backlog from acquired businesses. Foreign exchange rate changes negatively impacted the translation of Order Backlog from foreign-based ATS subsidiaries by approximately 2% compared to fiscal 2018.

Business Acquisition: Comecer
2019年2月28日，公司完成了对核医学和制药工业的高级无菌遏制和加工系统的设计，工程，制造和维修的领导者Comecer S.P.A.（“ Comecer”）的收购。收购的总现金购买价格为1.13亿欧元，但要遵守营运资金和净债务调整。2019财年第四季度支付的现金考虑因素为9500万欧元。Comecer的集成将通过交叉销售，地理扩张和商业流程最佳实践来针对收入协同作用。集成还将包括ATS业务模型（“ ABM”）的部署，该模型旨在改善包括项目管理，供应链和产品生命周期管理在内的运营。

季度电话会议
ATS' quarterly conference call begins at 10:00 a.m. eastern on Thursday May 16, 2019, and can be accessed live at www.atsautomation.com or on the phone by dialing (647) 427-7450 five minutes prior to the scheduled start time. A replay of the conference will be available on the ATS website following the call. Alternatively, a telephone recording of the call will be available for one week by dialing (416) 849-0833 and entering passcode 1034078 followed by the number sign.

关于ATS
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, pharmaceuticals, chemicals, electric vehicles, transportation, consumer products, electronics, food, beverage, energy, and oil and gas. Founded in 1978, ATS employs approximately 4,400 people at 23 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia and China. The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA.