CTS Corp Q1 Profit Decreases, but beats estimates

(RTTNews) - CTS Corp (CTS) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $11.119 million, or $0.36 per share. This compares with $18.344 million, or $0.58 per share, in last year's first quarter.

Excluding items, CTS Corp reported adjusted earnings of $14.6 million or $0.47 per share for the period.

Analysts on average had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.9% to $125.750 million from $145.994 million last year.

CTS Corp earnings at a glance (GAAP) :

-Earnings (Q1): $11.119 Mln. vs. $18.344 Mln. last year. -EPS (Q1): $0.36 vs. $0.58 last year. -Revenue (Q1): $125.750 Mln vs. $145.994 Mln last year.

-Guidance: Full year EPS guidance: $2.10 to $2.35 Full year revenue guidance: $530 to $570 Mln