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newsrelease
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CTS CORPORATION Elkhart, Indiana 46514 • (574) 293-7511
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January 30, 2007
FOR RELEASE: Immediately
CTS TO POSTPONE
FOURTH QUARTER EARNINGS RELEASE
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Elkhart, IN¡CTS Corporation
(NYSE: CTS) today announced that it is delaying its fourth quarter 2006
earnings release in order to complete reconciliation of certain balance sheet
accounts related to payables and inventory at one EMS manufacturing location.
Reconciliation of these accounts could impact earnings. The Company hopes
to complete these actions and release the earnings report within the next two
weeks. At that time, the Company expects to report revenues for the
quarter at $173.6 million, a 12% increase year-over-year, with full year
revenues at $655.7 million, 6% over 2005. The earnings release conference
call will be rescheduled to follow the release.
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About CTS
CTS is a leading designer and manufacturer of electronic components and
sensors and a provider of electronics manufacturing services (EMS) to OEMs in
the automotive, computer, communications, medical and industrial markets. CTS
manufactures products in North America, Europe and Asia. CTS' stock is traded on
the NYSE under the ticker symbol "CTS.¡±
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Safe Harbor Statement
This press release contains statements that are, or may be deemed to be,
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include, but
are not limited to, any financial or other guidance, statements that reflect our
current expectations concerning future results and events, and any other
statements that are not based solely on historical fact. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. These forward-looking statements are
made subject to certain risks, uncertainties and other factors, which could
cause our actual results, performance or achievements to differ materially from
those presented in the forward-looking statements. For more detailed
information on the risks and uncertainties associated with CTS¡¯ business, see
our reports filed with the SEC. CTS undertakes no obligation to publicly
update its forward-looking statements to reflect new information or events or
circumstances that arise after the date hereof, including market or industry
changes.
| Contact: | Vinod M.
Khilnani, Senior Vice President and Chief Financial Officer, or Mitchell J. Walorski, Director of Investor Relations |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 293-7511, Fax: (574) 293-6146 |
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