CTS Corporation (NYSE: CTS) designs
and manufactures electronic components and sensors for original equipment manufacturers in the automotive, computer, communications, medical, defense, aerospace and industrial markets. Products include automotive sensors, oscillators, RF modules, resistors, switches, piezoelectric ceramic components, backplanes and interconnect systems. Hewlett-Packard (NYSE: HPQ) and Motorola (NYSE: MOT) are major customers.
The firm surprised investors late last month, when it announced Q4 EPS of 25 cents and revenues of $178.3 million. Analysts had been expecting 20 cents and $176.6 million. Management also guided FY08 EPS to 78-83 cents (81 cent consensus) and FY08 revenues to about $720.2-$740.8 million ($721.99M consensus). In discussing the positive quarter and solid outlook, the CEO pointed to the recent acquisition of new piezoceramic and electronic technologies.
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