MTS Systems Corp. Earnings Drop 66% In Q2

(RTTNews) - MTS Systems Corp. (MTSC) announced a profit for second quarter that fell compared to the same period last year.

The company said its bottom line dropped to $3.96 million, or $0.27 per share. This was down from $11.71 million, or $0.77 per share, in last year's second quarter.

Analysts had expected the company to earn $0.70 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.8% to $137.10 million. This was down from $143.96 million last year.

MTS Systems Corp. earnings at a glance:

-Earnings (Q2): $3.96 Mln. vs. $11.71 Mln. last year. -Earnings Decline (Y-o-Y): -66.2% -EPS (Q2): $0.27 vs. $0.77 last year. -EPS Decline (Y-o-Y): -64.9% -Analysts Estimate: $0.70 -Revenue (Q2): $137.10 Mln vs. $143.96 Mln last year. -Revenue Change (Y-o-Y): -4.8%

-Guidance: Full year EPS guidance: $2.60 - $3.00 Full year revenue guidance: $600 - $650 Mln