Plus   Neg

CTS Raises FY18 Outlook - Quick Facts

CTS Corp. (CTS) on Thursday increased its adjusted earnings guidance for the full year 2018 to a range of $1.40 to $1.55 per share from the prior forecast range of $1.32 to $1.44 per share.

Sales for the full year are now expected to be in the range of $450 to $465 million, up from the prior guidance range between $435 million and $455 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.39 per share on sales of $452.7 million for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income of $7.2 million or $0.21 per share, lower than $10.0 million or $0.30 per share in the prior-year quarter. Adjusted earnings per share were $0.39, compared to $0.28 per share in the year-ago quarter.

Sales for the quarter grew 11.7 percent to $118.0 million from the same quarter last year. Organic sales growth was 10.9 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Workers at Volkswagen AG's only factory in the U.S. have voted against forming a factory-wide union, dealing yet another blow to efforts by the United Auto Workers union to organize plants owned by foreign automakers. According to preliminary results announced on Friday, 833 workers at Volkswagen's plant in Chattanooga, Tennessee, reportedly voted against union representation. International Business Machines Corp. and Cúram Software, acquired by the tech giant in 2011, have agreed to pay $14.8 million to settle alleged violations of the False Claims Act, the Justice Department said in a statement. According to the DOJ, IBM and Cúram allegedly made material misrepresentations to the State of Maryland during a contract award process in 2011 and 2012. Lyrics website Genius Media Group Inc. has accused Google of copying some song lyrics directly from its website without permission, for the tech giant's search results. Genius told the Wall Street Journal that it is seeing falling traffic for the past several years as Google has been publishing lyrics in search pages on its own platform, with some of them lifted directly from the Genius website.
Follow RTT