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Stock impact report

CTS Announces Second Quarter 2020 Results

CTS Corp (CTS)  More Company Research Source: GlobeNewswire
Last cts corp earnings: 4/23 08:00 am Check Earnings Report
US:NYSE Investor Relations: ctscorp.com/investors
PDF LISLE, Ill., July 31, 2020 (GLOBE NEWSWIRE) -- CTS Corporation (NYSE: CTS) today announced second quarter 2020 results. Sales were $84.2 million, down 30% year-over-year. Sales to transportation customers declined 53%, and sales to other end markets grew 14%. Excluding $5.4 million in sales from the QTI acquisition, sales to other end markets grew 1%.Net earnings were $4.9 million or $0.15 per diluted share versus $11.9 million or $0.36 last year.Adjusted diluted EPS was $0.16.Free cash flow was $9.1 million, and at quarter-end, we were net cash positive.New business wins were $105 million. “I am grateful to our teams around the globe for their resilience and care for our customers and partners in this unprecedented downturn. We are adapting our cost structure due to the prolonged impact of COVID-19,” said Kieran O’Sullivan, CEO of CTS Corporation. “We received new business awards in some promising areas. Our focus remains on key strategic growth investments. We are making progres [Read more]
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