CTS Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 08:18 am EDT
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CTS Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 145.18 million compared to USD 144.98 million a year ago. Net income was USD 12.9 million compared to USD 12.6 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to USD 0.39 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.39 a year ago.
For the six months, sales was USD 291.18 million compared to USD 292.68 million a year ago. Net income was USD 31.24 million compared to USD 32.84 million a year ago. Basic earnings per share from continuing operations was USD 0.99 compared to USD 1.02 a year ago. Diluted earnings per share from continuing operations was USD 0.98 compared to USD 1.02 a year ago.
CTS Corporation is a global manufacturer of sensors, connectivity components, and actuators. The Company designs, manufactures, and sells a line of sensors, connectivity components, and actuators primarily to original equipment manufacturers (OEMs) and suppliers for the aerospace and defense, industrial, medical, and transportation markets. It operates manufacturing facilities in North America, Asia, and Europe. Its devices are categorized by their ability to Sense, Connect or Move. Sense products provide vital inputs to electronic systems. Connect products allow systems to function in synchronization with other systems. Move products ensure required movements are effectively and accurately executed. Its Sense products include Controls, Pedals, Piezo Sensing Products, Sensors, Switches and Transducers. Its Connect products include EMI/RFI Filters, Capacitors, Frequency Control Products, Resistors and RF filters. Its Move products include Piezo Microactuators and Rotary Actuators.
CTS CORPORATION 
