CTS Raises FY18 Outlook - Quick Facts

(RTTNews) - CTS Corp. (CTS) on Thursday increased its adjusted earnings guidance for the full year 2018 to a range of $1.40 to $1.55 per share from the prior forecast range of $1.32 to $1.44 per share.

Sales for the full year are now expected to be in the range of $450 to $465 million, up from the prior guidance range between $435 million and $455 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.39 per share on sales of $452.7 million for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income of $7.2 million or $0.21 per share, lower than $10.0 million or $0.30 per share in the prior-year quarter. Adjusted earnings per share were $0.39, compared to $0.28 per share in the year-ago quarter.

Sales for the quarter grew 11.7 percent to $118.0 million from the same quarter last year. Organic sales growth was 10.9 percent.