CTS Corp. (CTS) Tops Q2 EPS by 4c, Guides FY Revenue Below Street
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CTS Announces Second Quarter 2015 Results
July 27, 2015 4:30 PM EDTSolid Earnings; Strong New Business Awards
ELKHART, Ind.--(BUSINESS WIRE)-- CTS Corporation (NYSE: CTS) today announced second quarter 2015 results.
Sales were $100.1 million, down 2.8% compared to the second quarter of 2014, driven primarily by an unfavorable currency impact of $2.1 million as the US Dollar appreciated against the Euro. GAAP earnings were $19.1 million, or $0.57 per diluted share, compared to $6.4 million, or $0.19 per diluted share from continuing operations in the second quarter of 2014. GAAP earnings include one-time favorable tax items of $0.32 and restructuring-related charges of... More