MTS Systems (MTSC) Reports In-Line Q3 EPS, Slight Beat on Revenues; Boosts FY17 EPS Outlook

MTS Systems (NASDAQ: MTSC) reported Q3 EPS of $0.48, in-line with the analyst estimate of $0.48. Revenue for the quarter came in at $194 million versus the consensus estimate of $193.03 million.

Outlook

The company now expects fiscal year 2017 revenues of $770 million to $785 million and GAAP EPS to be in the range of $1.15 to $1.30, up from the previous guidance of $0.80 to $1.20 per share due to the discrete tax benefits recognized in the third quarter of fiscal year 2017. GAAP EPS includes acquisition integration, acquisition inventory fair value adjustment and restructuring expenses of $13 million to $14 million, the cost of the China investigation of approximately $9 million and discrete tax benefits of $3 million. We have updated our guidance for Adjusted EBITDA for the full fiscal year 2017 to range between $115 million and $120 million. A reconciliation of this non-GAAP measure to net income, the most directly comparable GAAP financial measure, is included in Exhibit E of this earnings release.

GUIDANCE:

MTS Systems sees Q4 2017 EPS of $1.15-$1.30.

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

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