Standard of Excellence: Speed vs. Quality in Customer Service
Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
CTS Reports Robust Growth in Sales and Total Booked Business
March 2, 2018 | CTSEstimated reading time: 1 minute
CTS Corporation today announced fourth quarter and full year 2017 results.
Fourth Quarter 2017 Results
- Sales were $110.9 million, up 9.2% year-over-year. Sales to automotive customers increased 7.3%, and sales of electronic components grew 12.7%. The Noliac acquisition, completed in May 2017, added $3.0 million of sales in the fourth quarter of 2017
- Net loss was $13.6 million or $0.41 per share, which included a $18.0 million one-time, non-cash charge related to the Tax Cuts and Jobs Act and a $13.4 million one-time, non-cash pension settlement charge
- Adjusted diluted EPS was $0.39 compared to $0.29 in the same quarter of 2016
Full Year 2017 Results
- Sales were $423.0 million, up 6.6% compared to 2016. Sales to automotive customers increased 4.8%, and sales of electronic components grew 10.2%. The Noliac acquisition added $7.1 million of sales in 2017
- Net earnings were $14.4 million or $0.43 per diluted share
- Adjusted diluted EPS was $1.23 compared to $1.08 in 2016
- Operating cash flow was $58.0 million, up 23% year-over-year
- Total booked business grew $219 million in 2017, a 14.4% increase, to $1.737 billion
“We made progress on several fronts in 2017, growing our total booked business substantially, building momentum in sales growth, improving earnings, and generating strong cash flows,” said Kieran O’Sullivan, CEO of CTS Corporation. “We will continue to focus on improving sales and gross margins in 2018.”
2018 Guidance
Full year 2018 sales are expected to be in the range of $435 to $455 million. Adjusted earnings per diluted share for 2018 are expected to be in the range of $1.32 to $1.44.
About CTS
CTS is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia. CTS provides solutions to OEMs in the aerospace, communications, defense, industrial, information technology, medical, and transportation markets.
For more information, click here.
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Aircraft Wire and Cable Market to surpass USD 3.2 Billion by 2034
10/30/2025 | Global Market Insights Inc.The global aircraft wire and cable market was valued at USD 1.8 billion in 2024 and is estimated to grow at a CAGR of 5.9% to reach USD 3.2 billion by 2034, according to recent report by Global Market Insights Inc.
Honeywell Announces Updated Business Segment Structure Ahead Of Aerospace Spin-Off
10/28/2025 | HoneywellHoneywell announced its updated business segment structure ahead of the planned separation of its Aerospace Technologies business, expected in the second half of 2026, and its Solstice Advanced Materials business, expected to be completed on October 30, 2025.
Lockheed Martin Signs Strategic Partnership Framework with Korean Air
10/28/2025 | Lockheed MartinLockheed Martin is collaborating with Korean Air to explore opportunities to support the U.S. government’s (USG) Regional Sustainment Framework (RSF) initiative, as well as expand Maintenance, Repair, Overhaul & Upgrade (MROU) cooperation to third-country markets.
The Republic of Korea Selects L3Harris for Airborne Early Warning and Control Aircraft Program
10/20/2025 | BUSINESS WIREL3Harris Technologies has received a contract to deliver modified Bombardier Global 6500 airborne early warning and control (AEW&C) aircraft to the Republic of Korea Air Force.
Molex Announces Agreement to Acquire Smiths Interconnect
10/17/2025 | MolexMolex, a leading global electronics connectivity innovator, announced that it has signed an agreement to acquire Smiths Interconnect.