On February 6, 2014, CTS Corporation (CTS), the designer and manufacturer of electronic components and sensors primarily sold to the automotive industry, reported financial results for its fourth quarter and year ended December 31, 2013 on a continuous operations basis.
This quarter was the first full quarter since the divestiture of its EMS division (on October 2, 2012 for $75 million in cash), which had contributed $154 million sales in the first nine months of 2013. As a result the company reported revenues on a continuing operations basis and 2012 revenue numbers were restated significantly downward. Revenues in the quarter were $102 million versus a restated $76 million last year, up 35%. Adjusted EPS, taking out all one-time...
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