CTS Corp. (CTS) Tops Q3 EPS by 4c; Guides FY16
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CTS Announces Third Quarter 2016 Results
October 28, 2016 8:01 AM EDTContinued growth in sales and earnings
LISLE, Ill.--(BUSINESS WIRE)-- CTS Corporation (NYSE: CTS) today announced third quarter 2016 results.
Sales were $99.7 million. Excluding $3.2 million from the single crystal acquisition, sales grew 6.4% compared to the third quarter of 2015 and 0.9% sequentially. Sales to automotive customers increased 5.2% year-over-year and declined 0.4% sequentially. Organic sales growth for electronic components was 9.2% year-over-year and 3.9% sequentially. GAAP earnings were $3.7 million or $0.11 per diluted share, which included $0.11 for one-time unfavorable tax items, $0.04 for restructuring, and $0.02 for a... More