CTS CORPORATION Elkhart, Indiana 46514 (574) 523-3800
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.
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.
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.”
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.
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|