CTS ( (CTS) ) has provided an announcement.
CTS Corporation announced its financial results for the fourth quarter and full year of 2024, revealing a 2% year-over-year increase in fourth-quarter sales to $127 million and a 6% decline in full-year sales to $516 million, primarily due to a decrease in the transportation market. The company made significant strides in diversifying its business, with over 50% of revenue now coming from medical, industrial, and aerospace and defense markets. The acquisition of SyQwest contributed $14 million in additional revenue for the year, aligning with their strategic expansion in defense capabilities.
More about CTS
CTS Corporation is a global leader in designing and manufacturing sensors, actuators, and electronic components, with operations in North America, Europe, and Asia. The company serves various markets, including aerospace/defense, industrial, medical, and transportation.
YTD Price Performance: -1.54%
Average Trading Volume: 145,912
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.54B
For detailed information about CTS stock, go to TipRanks’ Stock Analysis page.