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November 4, 2010

ATS Q3 revenue down 9%

Net income up 50% compare to same quarter previous year

By CBR Staff Writer

ATS, a provider of technology services to government and commercial organisations, has posted revenue of $29.2m for the third quarter of 2010, a decrease of 9% compared to $32.1m for the same quarter of 2009.

The company has reported an operating income of $2.7m for the third quarter of 2010, a drop of 33% compared to an operating income of $4m for the same period last year.

For the third quarter ended 30 September 2010, the company’s net income was $3m, or $0.12 per diluted share, compared to a net income of $2m, or $0.09 per diluted share, for the same period in 2009.

ATS president and CEO Edward Bersoff said that the company is pleased to report a strong increase in bookings and backlog this quarter, continued strong performance in delivering above industry average EBITDA margins, and a 38% increase in EPS over last year.

"We have consistently met or exceeded our target EBITDA and EBITDA margins and expect to end the year with EBITDA margins for the full year in excess of industry norms, despite lower than expected revenue," Bersoff said.

The company anticipates its revenue to range between $118m and $121m for the fiscal year 2010 and its EBITDA to range between $13m and $14m.

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