Electronics contract manufacturer CTS is down 12.9% premarket after warning it expects Q1 EPS of $0.05-$0.07, below a Street estimate of $0.16. The company, which just restarted manufacturing at a Thai facility crippled by flooding, blames lagging insurance reimbursements, customer returns, and a slow start to Q1. CTS is reiterating its 2012 EPS guidance of $0.75-$0.80 ($0.78 consensus). Some of CTS' peers: JBL, FLEX, SANM, CLS, PLXS, NTE.
CTS gearing up for a 'golden cross' after EPS beat today. Early losses wiped out and stocks closes with a gain.
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CTS Corp is a designer and manufacturer of electronic components and sensors to OEMs in the automotive, communications, medical, defense and aerospace, industrial and computer markets. The Company manufactures products in North America, Europe and Asia.