CTS Reports Strong Sales and Earnings Growth in Q1 2018
April 27, 2018 | CTSEstimated reading time: 1 minute
CTS Corporation has announced first quarter 2018 results. Sales were $113.5 million, up 13.4% year-over-year. Sales to automotive customers increased 11.9%, and sales of electronic components increased 16.2%. The Noliac acquisition, completed in May 2017, added $2.6 million of sales in the first quarter of 2018.
Net earnings were $11.5 million or $0.34 per diluted share compared to $8.5 million or $0.25 per diluted share in the first quarter of 2017.
Adjusted EPS was $0.34 per diluted share, up 31% from $0.26 in the first quarter of 2017.
Total Booked Business was $1.762 billion at the end of the first quarter of 2018, an increase of $25 million from the fourth quarter of 2017.
“We had a good start to 2018, delivering strong sales and earnings growth, and increasing total booked business,” said Kieran O’Sullivan, CEO of CTS Corporation. “We are pleased that our revenue growth strategies are starting to gain traction, and we see continued opportunities to improve operational results.”
2018 Guidance
Management reaffirms its prior 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, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
For more information, click here.
Suggested Items
Foxhole Group Boosts Life Science Capabilities with Accutron Partnership
09/03/2024 | Foxhole GroupFoxhole Group, a private investment firm focused on the industrial sector, announced today that it has added significant depth of expertise in life science and aerospace and defense capabilities to its Foxtronics EMS platform by partnering with the Faldu family to add Accutron to the company’s portfolio of EMS brands.
Marshall, Tech Mahindra to Explore Aerospace and Defense Collaboration
09/02/2024 | MarshallMarshall and Tech Mahindra, a leading global provider of technology consulting and digital solutions to enterprises across industries, have signed a Memorandum of Understanding (MoU) to identify and develop opportunities to work together across the aerospace and defense domains.
A Less Expensive Defense and Aerospace PCB Fab Startup
08/20/2024 | Alex Stepinski, Stepinski GroupEditor’s note: Investing in a new printed circuit board fabrication startup is not for the faint of heart or the light of wallet. Standing up a new “high-tech” PCB fab facility capable of becoming qualified for aerospace and defense work typically takes a minimum investment of $50 million. However, Alex Stepinski says entering the defense and aerospace markets with a new PCB fabrication start-up facility far under this prohibitive cost benchmark is possible when good partnerships, innovation, and sound engineering design enter from the beginning. In this article, Alex Stepinski outlines just how this can be achieved.
USPACE and EgSA to Form Aerospace Joint Venture in Egypt
08/16/2024 | PRNewswireUSPACE Technology Group Limited is pleased to announce that the Group has signed the strategic partnership agreement with the Egyptian Space Agency (EgSA), in relation to satellite manufacturing and testing, satellite launch, education and training, greatly expanding its business presence in the fast-growing African space market.
UHDI Fundamentals: UHDI Applications for Aerospace
08/13/2024 | Anaya Vardya, American Standard CircuitsUltra high density interconnect (UHDI) technology refers to advanced manufacturing processes used to create extremely compact and highly efficient electronic circuits at the sub-1-mil line and space level. In aerospace applications, UHDI is crucial due to the stringent requirements for weight, reliability, and performance in a challenging environment.