Global Citizenship: What I’ve Learned About the American PCB Business
Global Sourcing Spotlight: The Best Products to Buy Offshore Through Global Sourcing
Nolan's Notes: The Rise (and Risk) of Data
CTS Delivers Growth in Challenging Environment; Sales Up 2.3% in 2Q19
July 29, 2019 | CTSEstimated reading time: 1 minute
CTS Corporation has announced second quarter 2019 results.
Highlights:
- Sales were $120.7 million, up 2.3% year-over-year. Sales to the transportation end market increased 8.7%, and sales to other end markets decreased 8.6%.
- Net earnings were $11.9 million or $0.36 per diluted share, compared to $7.2 million or $0.21 in the second quarter of 2018.
- Adjusted EPS was $0.40 per diluted share, up from $0.39 in the second quarter of 2018.
- Total Booked Business was $1.875 billion, up 4.2% compared to the second quarter of 2018.
“Despite a challenging first half of the year, we delivered modest revenue and profit growth,” said Kieran O’Sullivan, CEO of CTS Corporation. “The fundamentals of the business remain sound. We are prioritizing our strategic initiatives and are focused on improving operational execution.”
2019 Guidance
Management is narrowing its 2019 guidance for sales from $460 – $500 million to $470 – $490 million, and for adjusted earnings per diluted share from $1.50 – $1.70 to $1.55 – $1.65.
Conference Call
As previously announced, the Company has scheduled a conference call at 11:00 a.m. (EDT) today to discuss the second quarter financial results. The dial-in number is 800-309-1256 (720-543-0314, if calling from outside the U.S.). The passcode is 092198. There will be a replay of the conference call from 2:00 p.m. (EDT) today through 2:00 p.m. (EDT) on Thursday, August 8, 2019. The telephone number for the replay is 888-203-1112 (719-457-0820, if calling from outside the U.S.). The replay passcode is 9390168. A live audio webcast of the conference call will be available and can be accessed directly from the Investors section of the website of CTS Corporation at www.ctscorp.com.
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, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
Share on:
Suggested Items
AirBorn Announces Agreement to be Acquired by Molex
11/18/2024 | PRNewswireAirBorn, a global manufacturer of high reliability electronics and components, announced it has entered into an agreement to be acquired by Molex, a leading global connectivity and electronics solutions provider.
RTX's Collins Aerospace to Provide UK Chinook Helicopters with Interoperable Avionics System
11/12/2024 | RTXCollins Aerospace, an RTX business, has received a $19 million contract from the Department of Defense to equip a fleet of new H-47 Chinooks for the UK Royal Air Force with its Common Avionics Architecture System (CAAS) avionics management suite.
Lockheed Martin Skunk Works, the Royal Netherlands Aerospace Centre (NLR) Announce Strategic Collaboration
10/21/2024 | Lockheed MartinSkunk Works®, the renowned advanced development organization within Lockheed Martin Corporation and the Royal Netherlands Aerospace Centre (NLR), a premier knowledge institute and connecting link among science, industry, and government in the Netherlands, announced a strategic collaboration to advance mutual interests for enhanced security at the Netherlands Defense Industry Days event.
Altair Drives Aerospace Innovation at Motivo
10/17/2024 | AltairAltair, a global leader in computational intelligence, is proud to announce its collaboration with Motivo, a product engineering firm focused on translating forward-thinking visions into best-in-class products for clients in the mobility, energy, agriculture technology, and aerospace sectors. Motivo utilizes Altair’s unique combination of engineering consulting and software to drive innovation for organizations in the aerospace industry.
Airbus, Toshiba to Partner on Superconductivity Research
10/16/2024 | AirbusAirbus UpNext, a wholly-owned subsidiary of Airbus, and Toshiba Energy Systems & Solutions Corporation (Toshiba), Toshiba Group’s energy arm, will cooperate and mutualise experience on superconducting technologies for future hydrogen-powered aircraft.