CTS Corp. (CTS) Tops Q2 EPS by 9c, Revenues Miss
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CTS Announces Second Quarter 2020 Results
July 31, 2020 8:01 AM EDTAdapting to New Market Conditions
LISLE, Ill., July 31, 2020 (GLOBE NEWSWIRE) -- CTS Corporation (NYSE: CTS) today announced second quarter 2020 results.
Sales were $84.2 million, down 30% year-over-year. Sales to transportation customers declined 53%, and sales to other end markets grew 14%. Excluding $5.4 million in sales from the QTI acquisition, sales to other end markets grew 1%.Net earnings were $4.9 million or $0.15 per diluted share versus $11.9 million or $0.36 last year.Adjusted diluted EPS was $0.16.Free cash flow was $9.1 million, and at quarter-end, we were net... More