By Adriano Marchese
ATS Automation Tooling Systems Inc. reported 51% higher revenue in the fourth quarter of fiscal 2022 and said a stronger Canadian dollar relative to the euro had a negative effect on both revenue and bookings.
On foreign-exchange effects:
The Canadian designer and builder of factory automation systems said revenue rose to 603.2 million Canadian dollars, or US$467.9 million, in the three months ended March 31.
"Foreign exchange translation negatively impacted revenues by C$10.6 million or 2.7%, primarily reflecting the strengthening of the Canadian dollar relative to the euro."
"Fourth quarter fiscal 2022 Order Bookings were C$638 million, a 37.8% year-over-year increase. This reflected organic growth of 1.0% and 39.5% growth from acquired companies, partially offset by a 2.7% decrease due to foreign exchange rate translation of order bookings by ATS' global subsidiaries, primarily reflecting the strengthening of the Canadian dollar relative to the euro."
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(END) Dow Jones Newswires