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ELKHART, IN – EMS provider CTS Corp. announced first-quarter 2008 revenues of $172.8 million, up 6% compared to the same period last year.
Net earnings were $6.7 million, up about 40% year-over-year.
EMS segment sales improved slightly over the first quarter of 2007 on higher sales into targeted medical, defense and aerospace markets, and the positive impact of a recent acquisition, partially offset by expected declines in sales to computer markets, said CTS.
Components and sensors’ sales increased to $8.2 million, up 12% year-over-year, and EMS sales increased 1.3% to $1.3 million.
CTS completed two acquisitions announced earlier in the first quarter, expected to be accretive in 2008. Tusonix Inc., designer and manufacturer of ceramic electromagnetic filters, added approximately $15 million in sales for CTS Electronic Components, while contract manufacturer Orion Manufacturing Inc. brought in approximately $27 million in sales.
The company reiterated its prior full-year guidance of 5% to 8% sales growth over 2007. |
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