CTS FY 2019 Earnings Report — CTS Corporation Revenue & Financial Results | Market Cap Arena

CTS CorporationCTS

FY 2019 Earnings

Reported February 20, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$469M	—	$470M	—	-0.2%
Op. Income	$60M	—	$70M	—	-13.8%
Gross Margin	33.4%	—	35.9%	—	-2.5pp
Net Margin	7.7%	—	9.9%	—	-2.2pp
EPS (Diluted)	$1.09	—	$1.39	—	-21.6%
Free Cash Flow	$43M	—	$30M	—	43.9%

Revenue Flow

Item	Amount
REVENUE	$469M
Cost of Revenue	$312M
GROSS PROFIT	$157M
R&D Expenses	$26M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$71M
Other Expenses	$0
Operating Expenses	$96M
Cost & Expenses	$409M
OPERATING INCOME	$60M
Interest Income	$2M
Interest Expense	$3M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$50M
Income Tax Expense	$14M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$25M
EBIT	$53M
EBITDA	$78M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$469M
Cost of Revenue	$312M
GROSS PROFIT	$157M
R&D Expenses	$26M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$71M
Other Expenses	$0
Operating Expenses	$96M
Cost & Expenses	$409M
OPERATING INCOME	$60M
Interest Income	$2M
Interest Expense	$3M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$50M
Income Tax Expense	$14M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$25M
EBIT	$53M
EBITDA	$78M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$25M
Stock-Based Compensation	$5M
Deferred Income Tax	$2M
Other Non-Cash Items	$3M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$64M
Capital Expenditure	-$22M
Acquisitions (Net)	-$74M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$96M
Net Debt Issuance	$50M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$5M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	$30M
FREE CASH FLOW	$43M
Net Change in Cash	-$692.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$100M
Short-Term Investments	$0
Net Receivables	$78M
Inventory	$42M
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$237M
PP&E (Net)	$130M
Goodwill	$106M
Intangible Assets	$85M
Long-Term Investments	$62M
Tax Assets	$20M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$406M
TOTAL ASSETS	$643M
Account Payables	$48M
Short-Term Debt	$3M
Deferred Revenue	$5M
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$97M
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$141M
TOTAL LIABILITIES	$238M
Common Stock	$308M
Additional Paid-In Capital	$44M
Retained Earnings	$510M
Treasury Stock	-$364M
Accum. Other Comp. Income	-$92M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$405M
Minority Interest	$0
TOTAL EQUITY	$405M
TOTAL LIABILITIES & EQUITY	$643M
Total Debt	$127M
Net Debt	$27M