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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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July 9, 2004
FOR RELEASE: Immediately
CTS CORPORATION AUTHORIZES BUYBACK OF UP TO ONE MILLION
SHARES OF COMPANY STOCK
Elkhart, IN, July 9, 2004, CTS Corporation (NYSE: CTS) announced today that its
Board of Directors authorized the repurchase of up to one million shares of its
outstanding shares of common stock, for cash, in the open market on the New York
Stock Exchange and in privately negotiated transactions. The one million shares
would represent approximately three percent of the Company’s 36 million
outstanding shares of common stock.
The purchases will be made from generally available funds of the Company. The
amount, timing and price of purchases will depend on market conditions and other
factors.
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The foregoing are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, certain assumptions and currently available information. Actual results may differ materially from those reflected in the forward-looking statements due to a variety of geopolitical, economic, health, industry and other factors which could affect the Company's operating results, liquidity and financial condition. Investors are encouraged to examine the Company’s SEC filings, which more fully describe the risks and uncertainties associated with the Company’s business.
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CTS Corporation is a leading designer and manufacturer of
electronic components and sensors, and a provider of EMS products and services
for the automotive, computer and communications markets. The Company
manufactures products in North America, Europe and Asia. A network of direct
sales personnel, independent manufacturers’ representatives and electronic
distributors provides worldwide sales coverage. The Company’s stock is traded on
the NYSE under the ticker symbol "CTS."
| Contact: | Vinod M. Khilnani, Sr. Vice President and Chief Financial
Officer, or George T. Newhart, Vice President Investor Relations |
| CTS Corporation 905 West Boulevard North Elkhart, IN 46514 |
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| Telephone: (574) 293-7511, Fax: (574) 293-0251 | |
| www.ctscorp.com |