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 $1.49 to $1.56 per share from the prior forecast range of $1.40 to $1.55 per share.

Sales for the full year are now expected to be in the range of $465 to $470 million, up from the prior guidance range between $450 million and $465 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.48 per share on sales of $459.03 million for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company reported net income of $10.2 million or $0.30 per share, up from $9.6 million or $0.29 per share in the prior-year quarter. Adjusted earnings per share were $0.39, compared to $0.31 per share in the year-ago quarter. Sales for the quarter grew 11.9 percent to $118.9 million from the same quarter last year.