MTS Systems (MTSC) Tops Q2 EPS by 16c

MTS Systems (NASDAQ: MTSC) reported Q2 EPS of $0.67, $0.16 better than the analyst estimate of $0.51. Revenue for the quarter came in at $193 million versus the consensus estimate of $189.68 million.

• Revenues of $193 million, an increase of 41 percent from the prior year period, with continued double digit organic growth of 10 percent and 31 percent growth from the PCB acquisition
• Gross margin of 41 percent increased 790 basis points from the prior year period driven by continued focus on project execution in Test and Sensors being a larger part of MTS results
• GAAP EPS increased 90% from the prior year period to $0.38, including a $0.29 negative impact from costs associated with the China investigation and acquisition integration and restructuring expenses
• Strong year-to-date operating cash flow of $41 million primarily due to continued focus on working capital improvements

For earnings history and earnings-related data on MTS Systems (MTSC) click here.

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