Q3 2019 CTS Corp Earnings Call Transcript

Oct 24, 2019 / 03:00PM GMT
Operator

Good day, and welcome to the CTS Corporation Third Quarter Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Kieran O'Sullivan. Please go ahead.

Kieran M. O'Sullivan - CTS Corporation - Chairman, President & CEO

Thank you, Lauren. Good morning. Thank you for joining us today, and welcome to CTS' Third Quarter 2019 Conference Call.

Third quarter sales were $115.7 million, down from $118.9 million in the same period last year. In the third quarter, we acquired QTI Sensing Solutions for $75 million, which is consistent with our stated strategy of portfolio diversification. Gross margins were 32% compared to 35.4% in the third quarter of 2018. Adjusted earnings per share were $0.29 compared to $0.39 in the third quarter of last year. We are taking measures designed to improve our performance, which I will discuss shortly. Total booked business increased 2% to $1.86 billion, up from $1.83 billion in the same period last year. Ashish Agrawal, our CFO, is with me for today's call

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot