ELKHART, IN -- CTS reported fourth-quarter EMS sales increased 16% year-over-year on demand from the defense and aerospace, industrial, communications and computer markets.

EMS sales were up 18% sequentially, the firm said, and are expected to grow 12% to 15% in 2011.

For the period, sales of electronics manufacturing services reached $79.6 million, and operating profits were $1 million, up from $700,000 last year and up from $100,000 sequentially.

For the period, overall revenues rose 8% to $145 million over the same period last year and 4% from the third quarter. Fourth quarter net earnings were $4.8 million, including restructuring and related charges of $1.7 million. CTS also makes components and sensors, primarily for the automotive market.

Full-year 2010 revenue was $552.6 million, up 11% from 2009. EMS segment revenues declined 6% year-over-year, primarily reflecting the timing of certain new program introductions. Cash flow from operations was $19.3 million and capital expenditures were $13.3 million, or 2.4% of sales. Management anticipates full-year 2011 sales to increase 9% to 13% over 2010.

• Prev
• Next