CTS FY 2020 Earnings Report — CTS Corporation Revenue & Financial Results | Market Cap Arena

CTS CorporationCTS

FY 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$424M	—	$469M	—	-9.6%
Op. Income	$48M	—	$60M	—	-20.6%
Gross Margin	33.0%	—	33.4%	—	-0.4pp
Net Margin	8.2%	—	7.7%	—	0.5pp
EPS (Diluted)	$1.06	—	$1.09	—	-2.8%
Free Cash Flow	$62M	—	$43M	—	45.1%

Revenue Flow

Item	Amount
REVENUE	$424M
Cost of Revenue	$284M
GROSS PROFIT	$140M
R&D Expenses	$24M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$68M
Other Expenses	$0
Operating Expenses	$92M
Cost & Expenses	$376M
OPERATING INCOME	$48M
Interest Income	$1M
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$45M
Income Tax Expense	$11M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	$27M
EBIT	$48M
EBITDA	$75M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$424M
Cost of Revenue	$284M
GROSS PROFIT	$140M
R&D Expenses	$24M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$68M
Other Expenses	$0
Operating Expenses	$92M
Cost & Expenses	$376M
OPERATING INCOME	$48M
Interest Income	$1M
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$45M
Income Tax Expense	$11M
Net Income from Continuing Ops	$35M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$35M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$35M
D&A	$27M
EBIT	$48M
EBITDA	$75M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$35M
Depreciation & Amortization	$27M
Stock-Based Compensation	$3M
Deferred Income Tax	-$2M
Other Non-Cash Items	$4M
Change in Working Capital	$10M
OPERATING CASH FLOW	$77M
Capital Expenditure	-$15M
Acquisitions (Net)	-$8M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$23M
Net Debt Issuance	-$45M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$5M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$61M
FREE CASH FLOW	$62M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$92M
Short-Term Investments	$0
Net Receivables	$81M
Inventory	$46M
Other Current Assets	$15M
TOTAL CURRENT ASSETS	$233M
PP&E (Net)	$121M
Goodwill	$109M
Intangible Assets	$79M
Long-Term Investments	$57M
Tax Assets	$24M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$393M
TOTAL ASSETS	$626M
Account Payables	$50M
Short-Term Debt	$3M
Deferred Revenue	$4M
Other Current Liabilities	$27M
TOTAL CURRENT LIABILITIES	$105M
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7M
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$97M
TOTAL LIABILITIES	$202M
Common Stock	$311M
Additional Paid-In Capital	$42M
Retained Earnings	$539M
Treasury Stock	-$373M
Accum. Other Comp. Income	-$96M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$424M
Minority Interest	$0
TOTAL EQUITY	$424M
TOTAL LIABILITIES & EQUITY	$626M
Total Debt	$81M
Net Debt	-$11M