CTS Corp. Issues 2016 Guidance; Q1 Profit Beats Estimates

(RTTNews) - CTS Corp. (CTS) announced its management expects full year 2016 sales in the range of $390 to $410 million, which includes sales related to the single crystal acquisition. Adjusted earnings per share for 2016 are expected to be in the range of $0.95 to $1.06. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.96 on revenue of $392.99 million. Analysts' estimates typically exclude special items.

First-quarter GAAP net earnings were $7.9 million or $0.24 per share compared to earnings of $6.3 million or $0.19 per share in the first quarter of 2015. Adjusted EPS was $0.26 versus $0.20 in the first quarter of 2015. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter.

Sales were $96.7 million, down 1.6% from the first quarter of 2015. Analysts expected revenue of $94.40 million, for the quarter.