CTS FY 2016 Earnings Report — CTS Corporation Revenue & Financial Results | Market Cap Arena

CTS CorporationCTS

FY 2016 Earnings

Reported February 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$397M	—	$382M	—	3.8%
Op. Income	$56M	—	$31M	—	78.4%
Gross Margin	35.4%	—	33.4%	—	2.0pp
Net Margin	8.7%	—	1.8%	—	6.8pp
EPS (Diluted)	$1.03	—	$0.21	—	390.5%
Free Cash Flow	$27M	—	$29M	—	-7.6%

Revenue Flow

Item	Amount
REVENUE	$397M
Cost of Revenue	$256M
GROSS PROFIT	$140M
R&D Expenses	$24M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$61M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$341M
OPERATING INCOME	$56M
Interest Income	$1M
Interest Expense	$4M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$57M
Income Tax Expense	$23M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$19M
EBIT	$62M
EBITDA	$81M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$397M
Cost of Revenue	$256M
GROSS PROFIT	$140M
R&D Expenses	$24M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$61M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$341M
OPERATING INCOME	$56M
Interest Income	$1M
Interest Expense	$4M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$57M
Income Tax Expense	$23M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$19M
EBIT	$62M
EBITDA	$81M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$19M
Stock-Based Compensation	$3M
Deferred Income Tax	$10M
Other Non-Cash Items	-$10M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$47M
Capital Expenditure	-$21M
Acquisitions (Net)	-$61M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$81M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$5M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$9M
FREE CASH FLOW	$27M
Net Change in Cash	-$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$114M
Short-Term Investments	$0
Net Receivables	$63M
Inventory	$29M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$216M
PP&E (Net)	$82M
Goodwill	$62M
Intangible Assets	$64M
Long-Term Investments	$46M
Tax Assets	$46M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$302M
TOTAL ASSETS	$518M
Account Payables	$40M
Short-Term Debt	$1M
Deferred Revenue	$0
Other Current Liabilities	$36M
TOTAL CURRENT LIABILITIES	$98M
Long-Term Debt	$89M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$102M
TOTAL LIABILITIES	$200M
Common Stock	$303M
Additional Paid-In Capital	$41M
Retained Earnings	$411M
Treasury Stock	-$343M
Accum. Other Comp. Income	-$93M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$318M
Minority Interest	$0
TOTAL EQUITY	$318M
TOTAL LIABILITIES & EQUITY	$518M
Total Debt	$90M
Net Debt	-$24M