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CTS
CORPORATION Elkhart, Indiana 46514 (574)
523-3800
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January 15, 2009
FOR RELEASE: Immediately
CTS Awarded Production Program for Mini-Joystick
for
New Consumer Applications
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that it has been awarded production business from a new customer to provide a mini-joystick for a new cell phone gaming application.
CTS Electrocomponents will provide a unique and innovative mini-joystick, considered the smallest in the world, providing precision control for hand held gaming devices. The new application is expected to achieve full production in early 2009, initially serving European and Latin American markets. This business is expected to add approximately $4 - 5 million of new revenue in the next five years.
This win reflects CTS’ strategy to diversify its business through new applications for its technology. CTS’ mini-joystick is currently used in other applications for in flight entertainment, gaming controllers and remote control devices.
For more information on CTS’ mini-joystick
products, please contact Mark Ahlemann at 574-523-3800.
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.”
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, potential
changes in the economy generally and in respect to the businesses in which CTS
operates; rapid technological change 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; the
Company’s successful execution of its restructurings and profit improvement
plans; and risks associated with CTS’ international operations, including trade
and tariff barriers, exchange rates and political and geopolitical risks. For
more detailed information on the risks and uncertainties associated with CTS’
business, see the reports CTS files with the SEC, available at
http://www.ctscorp.com/investor_relations/investor.htm. 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: |
Donna L. Belusar, Senior Vice President and Chief
Financial Officer |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 523-3800, Fax: (574) 293-6146 | |
| www.ctscorp.com |