CTS Corp. (CTS) Tops Q4 EPS by 8c, Beats on Revenues; Offers FY18 EPS/Revenue Mid-Point Guidance Above Consensus

CTS Corp. (NYSE: CTS) reported Q4 EPS of $0.39, $0.08 better than the analyst estimate of $0.31. Revenue for the quarter came in at $110.9 million versus the consensus estimate of $106.73 million.

Fourth Quarter 2017 Results

• Sales were $110.9 million, up 9.2% year-over-year. Sales to automotive customers increased 7.3%, and sales of electronic components grew 12.7%. The Noliac acquisition, completed in May 2017, added $3.0 million of sales in the fourth quarter of 2017.
• Net loss was $13.6 million or $0.41 per share, which included a $18.0 million one-time, non-cash charge related to the Tax Cuts and Jobs Act and a $13.4 million one-time, non-cash pension settlement charge.
• Adjusted diluted EPS was $0.39 compared to $0.29 in the same quarter of 2016.

2018 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.

GUIDANCE:

CTS Corp. sees FY2018 EPS of $1.32-$1.44, versus the consensus of $1.32. CTS Corp. sees FY2018 revenue of $435-455 million, versus the consensus of $440.26 million.

For earnings history and earnings-related data on CTS Corp. (CTS) click here.

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