Global Sourcing Spotlight: How to Evaluate Supplier Capabilities Worldwide
The Knowledge Base: Cultivating Your Brand in the Age of Connection
SMT Perspectives and Prospects: Warren Buffett’s Perpetual Wisdom, Part 2
CTS Announces Fourth Quarter, Full Year 2020 Results
February 9, 2021 | CTS CorporationEstimated reading time: 1 minute
CTS Corporation has announced fourth quarter and full year 2020 results.
Fourth Quarter 2020 Results
- Sales were $123 million, up 7% year-over-year. Sales to transportation customers increased 12%, and sales to other end markets were essentially flat.
- Net earnings were $14.9 million or $0.46 per diluted share versus $10.1 million or $0.31 last year.
- Adjusted diluted EPS was $0.43, up 16% from $0.37 in the fourth quarter of 2019.
- Free cash flow was $22.0 million, up 28% from $17.2 million in 2019.
- New business wins were $104 million.
Full Year 2020 Results
- Sales were $424 million, down 10% compared to 2019. Sales to transportation customers declined 19%, and sales to other end markets increased 7%.
- Net earnings were $34.7 million or $1.06 per diluted share versus $36.1 million or $1.09 last year.
- Adjusted diluted EPS was $1.12 compared to $1.45 in 2019.
- Free cash flow was $61.9 million, up 45% from $42.7 million last year.
- New business wins were $442 million.
“We saw strength in most end markets and executed well to deliver solid financial results in the fourth quarter,” said Kieran O’Sullivan, CEO of CTS Corporation. “We are making progress on our Focus 2025 strategic initiative, including a target of 10% annualized revenue growth. The recent SSI acquisition strengthens our position with medical customers and advances our end market diversification.”
2021 Guidance
Management remains mindful of market and supply chain uncertainties in this pandemic environment. Full year 2021 sales are expected to be in the range of $430 to $490 million. Adjusted earnings per diluted share for 2021 are expected to be in the range of $1.20 to $1.60. Management aims to narrow the guidance range as the year progresses.
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
The Knowledge Base: Cultivating Your Brand in the Age of Connection
08/19/2025 | Mike Konrad -- Column: The Knowledge BaseAudiences have evolved in how they consume information, form opinions, and make purchasing decisions. While marketing still relies on tried-and-true methods—get your name and message in front of your audience—you must also cultivate connection, credibility, and community. Your customers, particularly the younger generation of engineers, buyers, and program managers, want to discover value on their terms.
Technica Demo Days Event Proves to Be Beneficial to Customers
08/18/2025 | Technica USATechnica USA’s Demo Days Event, took place August 13–14 at the company’s Demo Center in San Jose, California. The event featured live demonstrations and presentations from key supply partners ESSEMTEC, INOVAXE, and PARMI showcasing the latest innovations in SMT manufacturing and automation technology.
Insulectro and Electroninks Sign North American Distribution Agreement
08/12/2025 | InsulectroElectroninks, a leader in metal organic decomposition (MOD) inks for additive manufacturing and advanced semiconductor packaging, today announced a strategic collaboration and distribution partnership with Insulectro, a premier distributor of materials used in printed electronics and advanced interconnect manufacturing.
It’s Only Common Sense: Stop Chasing New Customers and Start Keeping the Ones You Have
08/11/2025 | Dan Beaulieu -- Column: It's Only Common SenseCustomer retention is not glamorous. It doesn’t have a flashy ad campaign, it’s not going viral on social media, and nobody’s handing out “Best in Retention” awards at trade shows. However, if you’re running a proper business, not a popularity contest, then customer retention is where you make your money. However, too many companies treat customer retention as an afterthought.
Automated Production Equipment and Manncorp Announce Strategic Partnership to Expand SMT Solutions for U.S. Electronics Manufacturers
08/06/2025 | Automated Production EquipmentAutomated Production Equipment (APE), a trusted supplier of high-performance soldering and rework systems, proudly announces a strategic partnership with Manncorp, a leading provider of Surface Mount Technology (SMT) production equipment. This collaboration brings together two industry leaders to deliver expanded, end-to-end SMT solutions to electronics manufacturers across North America.