Reading time ( words)
CTS Corporation has announced its first quarter 2019 results.
- Sales were $117.6 million, up 3.6% year-over-year. Sales to the transportation end market increased 6.1%, and sales to other end markets decreased 1.1%.
- Net earnings were $11.4 million or $0.34 per diluted share, compared to $11.5 million or $0.34 in the first quarter of 2018.
- Adjusted EPS was $0.39 per diluted share, up from $0.34 in the first quarter of 2018.
- Total Booked Business was $1.865 billion at the end of the first quarter of 2019.
“We delivered steady performance in the first quarter,” said Kieran O’Sullivan, CEO of CTS Corporation. “We remain cautious on the industrial and transportation end markets. We continue to focus on driving profitable top line growth, expanding operating leverage, and advancing our strategic plans.”
Management reaffirms its full year guidance. 2019 sales are expected to be in the range of $460 to $500 million, and adjusted earnings per diluted share for 2019 are expected to be in the range of $1.50 to $1.70.
CTS is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.