Key Developments: CTS Corp (CTS)

CTS on New York Consolidated

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17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

CTS Corp names president and CEO O'Sullivan as chairman
Wednesday, 12 Feb 2014 04:43pm EST 

CTS Corp:Says the appointment of Kieran O'Sullivan to the role of chairman of the board effective after CTS' annual shareholders meeting on May 21, 2014.O'Sullivan, who was named president and CEO of CTS Corp in November 2012, will succeed chairman Thomas G. Cody, an independent director.Cody, who has acted as chairman since May 22, 2013, will assume the role of lead independent director at the 2014 shareholders meeting.  Full Article

CTS Corp declares quarterly dividend
Wednesday, 12 Feb 2014 11:28am EST 

CTS Corp:Says the first quarter dividend of $0.04 per share has been declared.Says it will be payable on May 2, to shareholders of record at the close of business on Mar. 28.  Full Article

CTS Corp gives FY 2014 mixed outlook
Thursday, 6 Feb 2014 04:35pm EST 

CTS Corp:Sees FY 2014 sales to increase in the range of 4 pct to 6 pct over FY 2013.Sees FY 2014 diluted earnings per share (EPS) to be in the range of $0.96 to $1.02.The company reported revenue of $409.5 mln in FY 2013.FY 2014 revenue of $438.80 mln, EPS of $0.95 - Thomson Reuters I/B/E/S.  Full Article

CTS Corp Announces Board Change-Form 8-K
Wednesday, 13 Nov 2013 12:18pm EST 

CTS Corp reported in its Form 8-K that on November 6, 2013, Thomas A. Kroll, Vice President and Chief Financial Officer (CFO) of the Company notified the Company of his intention to retire from the Company, effective March 31, 2014. Effective November 11, 2013, in connection with Mr. Kroll’s resignation, the Board of Directors has appointed Ashish Agrawal, Vice President and Chief Financial Officer (CFO) of the Company.  Full Article

CTS Corp Announces 14% Dividend Increase
Tuesday, 5 Nov 2013 12:42pm EST 

CTS Corporation announced that its Board of Directors approved a 14% increase of its quarterly cash dividend from $0.035 per share to $0.04 per share. The next quarterly dividend is payable on January 31, 2014 to shareholders of record at the close of business on December 27, 2013.  Full Article

CTS Corp Updates On FY 2013 Revenue Guidance; Reaffirms FY 2013 EPS Guidance
Monday, 28 Oct 2013 04:57pm EDT 

CTS Corp announced that for fiscal 2013, it expects sales to be in the range of $555 million to $560 million reflecting the October 2, 2013 EMS divestiture. The Company is maintaining the fiscal 2013 adjusted earnings per share (EPS) guidance in the range of $0.78 to $0.83 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $559 million for fiscal 2013.  Full Article

CTS Corp Announces Sale Of EMS Business To Benchmark Electronics, Inc
Thursday, 3 Oct 2013 07:00am EDT 

CTS Corp announced that it has entered into a definitive agreement with Benchmark Electronics, Inc. under which Benchmark has acquired CTS` Electronics Manufacturing Solutions (EMS) business for $75 million in cash. Included are five manufacturing facilities located in Moorpark, CA, Londonderry, NH, Bangkok, Thailand, Matamoros, Mexico, and San Jose, CA and approximately 1,000 employees. The transaction sharpens CTS` focus on its Components and Sensors business, and provides additional capital to drive growth and enhance shareholder value.  Full Article

CTS Corp Declares Quarterly Dividend
Wednesday, 28 Aug 2013 02:45pm EDT 

CTS Corp announced that the third quarter dividend of $0.035 per share, payable November 1, 2013, to shareholders of record at the close of business on September 27, 2013.  Full Article

CTS Corp Lowers FY 2013 Revenue Guidance; Reaffirms FY 2013 EPS Guidance
Monday, 22 Jul 2013 05:30pm EDT 

CTS Corp announced that it is lowering fiscal 2013 sales guidance to a 6% to 8%, compared to prior range of the low end of 12% to 15%, primarily due to softness at EMS and maintaining fiscal 2013 adjusted earnings per share in the range of $0.78 to $0.83 per share, which excludes tax expense on cash repatriation, restructuring and related costs and CEO transition costs. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $628 million and EPS of $0.80 for fiscal 2013.  Full Article

CTS Corp Declares Quarterly Dividend
Wednesday, 22 May 2013 01:07pm EDT 

CTS Corp announced that second quarter dividend of $0.035 per share, payable August 2, 2013, to shareholders of record at the close of business on June 28, 2013.  Full Article

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