CTS FY 2012 Earnings Report — CTS Corporation Revenue & Financial Results | Market Cap Arena

CTS CorporationCTS

FY 2012 Earnings

Reported February 25, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$577M	—	$589M	—	-2.0%
Op. Income	$4M	—	$18M	—	-77.3%
Gross Margin	17.6%	—	18.7%	—	-1.1pp
Net Margin	3.5%	—	3.6%	—	-0.0pp
EPS (Diluted)	$0.59	—	$0.60	—	-1.7%
Free Cash Flow	$25M	—	$2M	—	1244.5%

Revenue Flow

Item	Amount
REVENUE	$577M
Cost of Revenue	$476M
GROSS PROFIT	$101M
R&D Expenses	$21M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$76M
Other Expenses	$0
Operating Expenses	$97M
Cost & Expenses	$573M
OPERATING INCOME	$4M
Interest Income	$2M
Interest Expense	$3M
Other Income/Expenses	$23M
INCOME BEFORE TAX	$27M
Income Tax Expense	$7M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$7M
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$20M
EBIT	$30M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$577M
Cost of Revenue	$476M
GROSS PROFIT	$101M
R&D Expenses	$21M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$76M
Other Expenses	$0
Operating Expenses	$97M
Cost & Expenses	$573M
OPERATING INCOME	$4M
Interest Income	$2M
Interest Expense	$3M
Other Income/Expenses	$23M
INCOME BEFORE TAX	$27M
Income Tax Expense	$7M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$7M
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$20M
EBIT	$30M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$20M
Stock-Based Compensation	$4M
Deferred Income Tax	-$201.0K
Other Non-Cash Items	-$4M
Change in Working Capital	$2M
OPERATING CASH FLOW	$42M
Capital Expenditure	-$16M
Acquisitions (Net)	-$78M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$74M
Net Debt Issuance	$79M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$5M
Other Financing Activities	$2M
NET CASH FROM FINANCING	$66M
FREE CASH FLOW	$25M
Net Change in Cash	$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$110M
Short-Term Investments	$0
Net Receivables	$89M
Inventory	$83M
Other Current Assets	$29M
TOTAL CURRENT ASSETS	$310M
PP&E (Net)	$96M
Goodwill	$36M
Intangible Assets	$47M
Long-Term Investments	-$156M
Tax Assets	$73M
Other Non-Current Assets	$156M
TOTAL NON-CURRENT ASSETS	$252M
TOTAL ASSETS	$561M
Account Payables	$68M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$115M
Long-Term Debt	$154M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$25M
TOTAL NON-CURRENT LIABILITIES	$178M
TOTAL LIABILITIES	$293M
Common Stock	$292M
Additional Paid-In Capital	$40M
Retained Earnings	$368M
Treasury Stock	-$311M
Accum. Other Comp. Income	-$121M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$268M
Minority Interest	$0
TOTAL EQUITY	$268M
TOTAL LIABILITIES & EQUITY	$561M
Total Debt	$154M
Net Debt	$44M