Key Developments: CTS Corp (CTS.N)
11.20USD
17 May 2013
$0.18 (+1.63%)
$11.02
$11.06
$11.23
$10.97
65,686
28,490
$11.30
$7.74
Latest Key Developments (Source: Significant Developments)
CTS Corp Reaffirms FY 2013 EPS Guidance
CTS Corp announced that for fiscal 2013, it expects earnings per share to be in the range of $0.73 to $0.78. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.77 for fiscal 2013. Full Article
CTS Corp Declares Quarterly Dividend
CTS Corp announced the first quarter dividend of $0.035 per share, payable May 3, 2013, to shareholders of record at the close of business on March 28, 2013. Full Article
CTS Corp Comments On FY 2013 Revenue Guidance; Issues FY 2013 EPS Guidance Below Analysts' Estimates
CTS Corp announced that for fiscal 2013, it expects sales to increase in the range of 12% to 15% over fiscal 2012 and diluted earnings per share to be in the range of $0.73 to $0.78. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.84 for fiscal 2013. Full Article
CTS Corp's CTS Electronics Manufacturing Solutions, Inc. Announces Manufacturing Agreement With Qualstar Corporation
CTS Corp's CTS Electronics Manufacturing Solutions, Inc. announced that it has entered into a manufacturing and supply agreement with Qualstar Corporation, for the automotive, communications, medical, industrial, defense, aerospace and computer markets. Under the agreement, CTS will provide turn-key manufacturing services to Qualstar, including the purchase of existing inventory and ongoing inventory management. CTS will manufacture all of Qualstar's RLS and XLS tape library products and related assemblies at Moorpark, CA facility. Qualstar has already begun the process of transitioning production of library products to CTS, and over time may also convert production of certain of N2Power products to CTS, as well as service and logistical activities to help support Qualstar's growing international customer base. Full Article
CTS Corp Announces Acquisition Of D&R Technology, LLC
CTS Corp announced the acquisition of D&R Technology (D&R), a privately-held company with annual sales of approximately $50 million. D&R is a manufacturer of custom designed sensors, switches and electromechanical assemblies primarily serving the automotive light-vehicle market. CTS acquired D&R for a cash purchase price of approximately $63.5 million. Management expects the transaction to be accretive to CTS' earnings in the first year. Full Article
CTS Corp Declares Quarterly Dividend
CTS Corp announced the fourth quarter dividend of $0.035 per share, payable February 1, 2013, to shareholders of record at the close of business on December 28, 2012. Full Article
CTS Corp Announces Appointment of New President And CEO
CTS Corp announced the appointment of Kieran O`Sullivan to the position of President and Chief Executive Officer (CEO) effective January 7, 2013. Mr. O`Sullivan will succeed Vinod M. Khilnani, current Chairman and CEO, who will remain on the Board of Directors of the Corporation and continue to serve as Executive Chairman until the Annual Shareholders Meeting in 2013 and retire from CTS Corporation on December 31, 2013. Mr. Khilnani had previously announced his desire to retire and the Board had begun a succession process in March 2012. It is anticipated that Mr. O`Sullivan will be appointed to the Board of Directors as soon as practicable following his effective date. Full Article
CTS Corp's Products group Secures Production Program for New Transmission Sensor
CTS Corp announced that its Automotive Products group has been awarded a new production program to supply a parking position sensor for a global economy car for a Japanese vehicle manufacturer and existing customer. Total expected revenues from this new sensor award are approximately $9 million over the five-year life of the program. Full Article
CTS Corp Declares Quarterly Dividend
CTS Corp announced the third quarter dividend of $0.035 per share, payable November 2, 2012, to shareholders of record at the close of business on September 28, 2012. Full Article
CTS Corp Authorizes Buyback Of Up To One Million Shares Of Company Stock
CTS Corp announced that its Board of Directors authorized the repurchase of up to one million of its outstanding shares of common stock, for cash, in the open market on the New York Stock Exchange or in privately negotiated transactions. The one million shares would represent approximately 3% of the Company’s 33.9 million outstanding shares of common stock. On July 5, 2012, CTS completed a previously authorized buyback program of one million shares. The purchases will be made from generally available funds of the Company. The amount, timing and price of purchases will depend on market conditions and other factors. Full Article
Earnings vs. 
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