ELKHART, IN -- CTS Corp., about to be merged, posted its best sales quarterly sales results since the second quarter of 2001.

The company today reported fourth-quarter revenues of $142.5 million, up 10%, sequentially and 8% year-on-year.

Net earnings were $6.6 million, vs. $3.9 million in the fourth quarter of 2003.

Full-year revenues of $531.3 million topped 2003 revenues by 15%. The company, which makes electronics gear, posted net earnings of $20 million, well above 2003 earnings of $12.6 million.

In a press release, chairman and chief executive Donald Schwanz said, "Our financial results reflect solid sales growth, particularly in our automotive products and electronics manufacturing services, as well as our continued focus on margin enhancement. Business wins for recently introduced products and awards from new customers continued the strong positive trends of the past several quarters."

During the quarter, CTS agreed to acquire SMTEK, also a provider of electronics manufacturing services. Closing on this acquisition is expected shortly.

Including SMTEK, CTS management expects 2005 sales to increase 30 to 35% over 2004.

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