CTS Earnings: Here’s Why Investors Like These Results
CTS Corporation (NYSE:CTS) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 4.37%.
CTS Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.14 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Rose 1.73% to $149.51 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CTS Corporation reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.14. It missed the average revenue estimate of $165.6 million.
Quoting Management: Commenting on first quarter 2013 results, Kieran O’Sullivan, CTS President and Chief Executive Officer, stated, “We stayed on track in the first quarter for our full-year profitability, despite softness in our EMS business and the mixed global economic conditions. We recognize we have work to do to simplify our business, optimize our capital utilization while improving our margins and completing the integration of our D&R operations.”
Key Stats (on next page)…