Revenue up 23% on year-ago
ATS, a provider of technology services to government and commercial organizations, has posted a net income of $785,069, or $0.03 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $259,446, or $0.01 per diluted share, for the same period in 2007.
The company has reported revenue of $30.9m for the fourth quarter of 2008, compared to $31.5m for the fourth quarter of 2007.
For the fiscal year ended December 31, 2008, the company reported revenue of $131.5m, an increase of 23%, compared to $106.8m in 2007.
Net loss for the fiscal 2008 was $498.2m, or $2.35 per share, compared to $655.3m, or $0.35 per share, for fiscal 2007.
Edward Bersoff, chairman and CEO of ATSC, said: While 2008 was a year of mixed results for us, I am very pleased with what we were able to accomplish in a period of significant economic instability.
We were able to exceed our target EBITDA margins of 9% and deliver EBITDA of $12.2m for the year and adjusted EBITDA of $13.1m, well within our guidance for the year, and even within EBITDA guidance we had provided earlier in the year prior to making adjustments related to weaknesses we subsequently experienced in revenue.