Lisa Thompson
Growth at reasonable price, research analyst, tech, small-cap

CTS Reports First Clean Quarter After Huge Divestiture

On February 6, 2014, CTS Corporation (NYSE: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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