MTS Systems Adjusts Earnings Guidance For 2016 - Quick Facts

(RTTNews) - MTS Systems Corp. (MTSC) lowered its guidance, excluding any impact from the PCB acquisition, to $2.60 to $3.00 per share for fiscal 2016. The company said it is not adjusting previously stated revenue guidance range of $570 million to $600 million, excluding any benefits from the PCB acquisition expected in the fourth quarter. In February, the company projected its revenue in fiscal 2016 to be between $570 million and $600 million, and earnings to be $3.03 to $3.28 per share.

Analysts polled by Thomson Reuters expect the company to report profit per share of $3.12 on revenue of $588.93 million. Analysts' estimates typically exclude special items.

The company noted that, depending on the timing of the closing of the PCB acquisition, it is estimating that fiscal 2016 revenue could increase by approximately $30 million to $50 million, providing a range of between $600 million and $650 million for the combined company. The company revised its previously issued earnings guidance, including any impact from the PCB acquisition, to $1.20 to $1.60 per share for fiscal 2016.