ATS Corporation (NYSE AMEX: ATSC) has announced its fiscal figures for 2009.
According to ATSC: “Reported revenue of $118.7 million for the fiscal year ended Dec. 31, 2009. Revenue for the year decreased by 9.8% over revenue of $131.5 million for fiscal year 2008. Of the $12.8 million decline in revenue, $5.5 million of the decrease was driven by reduction within several of the Company’s commercial business areas which the Company has reported on previously. The remaining $7.3 million decline was the result of a drop in revenue from government contracts. The most significant contract reduction was with the U.S. Coast Guard as discussed earlier, where the Company continues to perform in a subcontractor role but at a lower revenue level for its share of the work.
Operating income for 2009 was $9.6 million and net income for the year was $3.1 million, or $0.14 per diluted share, compared to an operating loss of $51.1 million and net loss of $49.8 million, or ($2.35) per diluted share for fiscal year 2008. As previously reported, the Company incurred a $56.8 million, non-cash goodwill and intangible asset impairment charge in the third quarter of 2008.
EBITDA (1) was $11.2 million and adjusted EBITDA (2) was $13.1 million for 2009, resulting in an EBITDA margin of 11.0% compared to EBITDA (1) of $12.2 million and adjusted EBITDA (2) of $13.1 million in 2008, or an EBITDA margin of 9.9%.”
