ELKHART, IN -- CTS reported first-quarter net income fell by more than 50% to $2.3 million, from $5.1 million last year.

Overall revenues fell 3% from the same period last year to $147 million, but rose 2% from the fourth quarter.

The company, which makes sensors and provides electronics manufacturing services, said the results were affected by engineering prototype expenses, rare earth mineral cost pressure, and the timing of its Thailand flood-related insurance reimbursements. (CTS expects approximately $4 million to be reimbursed in the second quarter.)

For the period ended March 31, EMS sales fell 11% year-over-year to $70.5 million, primarily due to the continued impact of last fall's flooding in Thailand. The segment's operating loss was $1.1 million, versus $3 last year. Some production at the Thailand facility has begun, with volumes scheduled to ramp up over the next few months reaching normal capacity utilization by the end of the second quarter.

EMS sales decreased in the defense and aerospace and communications markets, partially offset by increases in the industrial and medical markets.

CTS chairman and chief executive Vinod M. Khilnani said, “While our performance in the first quarter was lower than expected, many of the issues were timing-related or unique due to new product launch activities. We remain excited about our growth initiatives, which are on track to drive strong performance over the next several years.

"While the global macro economic environment remains cautious and we expect the unfavorable impact from a weak Euro to continue, sales from new programs, combined with the [flood insurance] reimbursements, will benefit the earnings in the coming quarters. As a result, management is maintaining its guidance, with full-year 2012 sales expected to increase in the range of 10% to 13% over 2011."

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埃尔克哈特 - CTS的报告，第一季度的净收入230万美元，下降了50％以上，从去年的510万美元。

总收入从去年同期下跌3％至1.47亿美元，但是从去年第四季度上升2％。

该公司说，这使得传感器，并提供电子制造服务，工程样机费用，稀土矿产的成本压力，其泰国水灾相关保险报销的时间影响的结果。 （CTS的预计约400万美元，将在第二季度报销）。

截至3月31日期间，EMS的销售额下降了11％，比去年一年为70.5万美元，主要是由于去年秋天在泰国水灾的持续影响。段的经营亏损为110万美元，与去年3美元。一些在泰国的工厂生产已经开始，预计在未来几个月内达到正常产能利用率由第二季度末产量。

EMS销售下降，在国防和航空航天和通信市场，在工业和医疗市场的增长部分抵消。

CTS的董事长兼首席执行官维诺德研究Khilnani说，“虽然我们在第一季度的业绩低于预期，许多问题是计时相关的或独特的，由于新产品推出活动。我们会继续关注我们的增长计划，其中轨道上推动在未来数年的强劲表现感到兴奋。

“尽管全球宏观经济环境保持谨慎，我们期望继续从欧元疲软的不利影响，从销售[洪水保险报销相结合的新方案，将有利于在未来几个季度的盈利。因此，管理全2012年的销售额预计将增加10％至2011年的13以上％的范围内保持其指导。“

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