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CTS Corporation posted its third quarter 2018 results.
- Sales were $118.9 million, up 11.9% year-over-year. Sales to transportation customers increased 9.6%, and sales of electronic components increased 15.9%.
- Net earnings were $10.2 million or $0.30 per diluted share, up from $9.6 million or $0.29 per diluted share in the third quarter of 2017.
- Adjusted EPS was $0.39 per diluted share, up from $0.31 in the third quarter of 2017.
- Total Booked Business was $1.832 billion at the end of the third quarter of 2018, an increase of $32 million from the second quarter of 2018.
“We are pleased to see continued improvement in our performance,” said Kieran O’Sullivan, CEO of CTS Corporation. “Our strategic goal to diversify and expand regionally is gaining traction, and we are delivering strong sales growth in several of our non-transportation end markets.”
Management is increasing full year guidance. 2018 sales are expected to be in the range of $465 to $470 million, up from $450 to $465 million. Adjusted earnings per diluted share for 2018 are expected to be in the range of $1.49 to $1.56, up from $1.40 to $1.55.
CTS (NYSE: 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.
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