CTS Posts Second Quarter 2010 Results
0 Comments | Wireless News, Jul 29, 2010
CTS Corp. announced second quarter 2010 revenues of $138.9 million, an increase of 15 percent from revenues of $120.4 million in the same period last year.
In a release on July 26 the company announced that net earnings were $5.9 million, or $0.17 per diluted share, in the second quarter 2010 compared to a net loss of $7.0 million, or $0.21 per share, in the second quarter of 2009. Excluding an international cash repatriation-related tax charge of $9.1 million, or $0.27 per share, net earnings in the second quarter 2009 were $2.1 million, or $0.06 per share. Higher sales, improved gross margins and favorable segment mix contributed to the increase in second quarter earnings compared to the same period last year
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