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CTS CORPORATION Elkhart, Indiana 46514 • (574) 523-3800
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December 17, 2007
FOR RELEASE: Immediately
CTS Receives Orders from Two
New RF Filter Customers
Elkhart, IN¡CTS Corporation (NYSE: CTS) a global leader in the design and manufacture of radio frequency filters, today announced that it has received orders for six custom-designed filters from two new customers. These orders will support over $2 million per year of revenue, beginning first quarter 2008.
The two new customers are a European based manufacturer of wireless transmission systems used in the automotive industry (Telematics) and a North American company that provides base station power amplifiers to some of the largest Telecom OEM¡¯s in the world. Both are leaders in their respective markets.
CTS has the world¡¯s largest
market share of filters used in the Telematics sector and is one of the leading
providers of filter technology used for base station equipment.
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About CTS
Electronic Components
CTS Electronic Components is a leading provider of engineered electronic
components used in communications, computing, industrial and consumer
applications for OEMs and Contract Manufacturers worldwide. The Company has
manufacturing locations in Albuquerque, New Mexico; Burbank, California;
Singapore; Zhongshan and Tianjin, China; and Kaohsiung, Taiwan.
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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, defense and aerospace 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, including, without
limitation, rapid technological change and general market conditions in the
automotive, communications and computer industries; reliance on key customers;
CTS¡¯ ability to protect its intellectual property; pricing pressures and demand
for CTS¡¯ products; risks associated with CTS¡¯ international operations,
including trade and tariff barriers, exchange rates and political and
geopolitical risks; and the impact of the accounting misstatements at its
Moorpark and Santa Clara, California locations, including the results or the
impact of the SEC¡¯s informal inquiry into these misstatements. For more
detailed information on the risks and uncertainties associated with CTS¡¯
business, see the reports CTS files 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: |
Matthew W. Long, Interim Chief Financial Officer and Treasurer or Mitchell J. Walorski, Director Planning and Investor Relations |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 523-3800, Fax: (574) 293-6146 | |
| www.ctscorp.com |
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