$CTS
CTS CORP

2014 Q4 Form 10-Q Financial Statement

#000119312514384900 Filed on October 28, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $100.4M $99.96M $102.4M
YoY Change -1.96% -3.55% 35.3%
Cost Of Revenue $67.40M $67.46M $72.20M
YoY Change -6.65% -5.83% -147.78%
Gross Profit $33.03M $32.50M $30.17M
YoY Change 9.48% 1.56% 34.75%
Gross Profit Margin 32.9% 32.51% 29.46%
Selling, General & Admin $15.80M $13.90M $17.30M
YoY Change -8.67% -22.04% 253.06%
% of Gross Profit 47.84% 42.77% 57.35%
Research & Development $5.800M $5.807M $5.500M
YoY Change 5.45% 1.56% 3.77%
% of Gross Profit 17.56% 17.87% 18.23%
Depreciation & Amortization $4.300M $4.300M $4.500M
YoY Change -4.44% -18.87% -10.0%
% of Gross Profit 13.02% 13.23% 14.92%
Operating Expenses $21.60M $19.71M $22.90M
YoY Change -5.68% -16.31% 124.51%
Operating Profit $10.31M $11.22M $5.010M
YoY Change 105.79% 48.59% -35.28%
Interest Expense $300.0K $568.0K $100.0K
YoY Change 200.0% -30.56% -133.33%
% of Operating Profit 2.91% 5.06% 2.0%
Other Income/Expense, Net -$1.800M $701.0K $1.400M
YoY Change -228.57% 520.35% -1500.0%
Pretax Income $8.800M $11.92M $6.500M
YoY Change 35.38% 55.54% 3150.0%
Income Tax $1.800M $3.807M $2.300M
% Of Pretax Income 20.45% 31.93% 35.38%
Net Earnings $6.964M $8.117M -$2.981M
YoY Change -333.61% 19.04% -133.75%
Net Earnings / Revenue 6.94% 8.12% -2.91%
Basic Earnings Per Share $0.21 $0.24 -$0.09
Diluted Earnings Per Share $0.21 $0.24 -$0.09
COMMON SHARES
Basic Shares Outstanding 33.47M shares 33.60M shares 33.69M shares
Diluted Shares Outstanding 34.11M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.5M $130.9M $124.4M
YoY Change 8.12% 35.37% 13.5%
Cash & Equivalents $134.5M $130.9M $124.4M
Short-Term Investments
Other Short-Term Assets $21.11M $20.57M $17.01M
YoY Change 24.13% -30.66% 72.78%
Inventory $27.89M $29.91M $32.23M
Prepaid Expenses
Receivables $56.89M $63.09M $62.67M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $240.4M $244.5M $236.3M
YoY Change 1.75% -20.58% -23.61%
LONG-TERM ASSETS
Property, Plant & Equipment $71.41M $74.16M $74.87M
YoY Change -4.61% -17.12% -20.12%
Goodwill $32.05M $32.05M $32.05M
YoY Change 0.0% -8.84% -1.54%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.253M $1.372M $1.282M
YoY Change -2.26% -63.24% -13.61%
Total Long-Term Assets $145.1M $170.2M $169.1M
YoY Change -14.2% 19.34% 6.93%
TOTAL ASSETS
Total Short-Term Assets $240.4M $244.5M $236.3M
Total Long-Term Assets $145.1M $170.2M $169.1M
Total Assets $456.9M $488.8M $480.3M
YoY Change -4.86% -9.47% -14.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.34M $45.41M $47.05M
YoY Change -7.88% -36.51% -30.78%
Accrued Expenses $25.36M $27.41M $27.25M
YoY Change -6.94% -45.47% -10.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $79.98M $84.30M $95.12M
YoY Change -15.91% -30.77% -17.32%
LONG-TERM LIABILITIES
Long-Term Debt $75.00M $80.30M $75.00M
YoY Change 0.0% -37.56% -51.14%
Other Long-Term Liabilities $9.106M $5.455M $5.481M
YoY Change 66.14% -72.54% -76.73%
Total Long-Term Liabilities $9.106M $5.455M $5.481M
YoY Change 66.14% -72.54% -76.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.98M $84.30M $95.12M
Total Long-Term Liabilities $9.106M $5.455M $5.481M
Total Liabilities $167.1M $89.75M $100.6M
YoY Change 66.14% -36.63% -27.41%
SHAREHOLDERS EQUITY
Retained Earnings $380.1M $374.5M $359.0M
YoY Change 5.89% 3.08% -2.39%
Common Stock $339.0M $338.4M $336.8M
YoY Change 0.67% 0.77% 1.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $325.2M $322.3M $317.2M
YoY Change 2.52% 2.9% 2.0%
Treasury Stock Shares 22.71M shares 22.54M shares 22.25M shares
Shareholders Equity $289.8M $311.5M $296.7M
YoY Change
Total Liabilities & Shareholders Equity $456.9M $488.8M $480.3M
YoY Change -4.86% -9.47% -14.42%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $6.964M $8.117M -$2.981M
YoY Change -333.61% 19.04% -133.75%
Depreciation, Depletion And Amortization $4.300M $4.300M $4.500M
YoY Change -4.44% -18.87% -10.0%
Cash From Operating Activities $17.10M $5.200M $12.10M
YoY Change 41.32% -66.01% -27.54%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M -$3.000M -$3.100M
YoY Change 25.81% 20.0% -16.22%
Acquisitions
YoY Change
Other Investing Activities $3.100M $0.00 $76.20M
YoY Change -95.93% -100.0% -266.01%
Cash From Investing Activities -$800.0K -$3.100M $73.10M
YoY Change -101.09% 47.62% -247.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.70M 1.400M -58.20M
YoY Change -78.18% -153.85% -207.78%
NET CHANGE
Cash From Operating Activities 17.10M 5.200M 12.10M
Cash From Investing Activities -800.0K -3.100M 73.10M
Cash From Financing Activities -12.70M 1.400M -58.20M
Net Change In Cash 3.600M 3.500M 27.00M
YoY Change -86.67% -66.98% 27.36%
FREE CASH FLOW
Cash From Operating Activities $17.10M $5.200M $12.10M
Capital Expenditures -$3.900M -$3.000M -$3.100M
Free Cash Flow $21.00M $8.200M $15.20M
YoY Change 38.16% -53.93% -25.49%

Facts In Submission

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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <i>Reclassifications</i></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Certain reclassifications for discontinued operations have been made for the prior periods presented in the Unaudited Condensed Consolidated Financial Statements to conform to the current period&#x2019;s presentation.</p> </div>
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
172891 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33683000 shares
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-160000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6141000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
303643000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
757700000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
9006000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2393000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2723000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2723000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1889000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4038000
us-gaap Operating Income Loss
OperatingIncomeLoss
32013000
us-gaap Increase Decrease In Prepaid Pension Costs
IncreaseDecreaseInPrepaidPensionCosts
6687000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1915000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
22281000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1422000
us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-433000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
30591000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5084000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1618000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
778000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1959000
us-gaap Net Income Loss
NetIncomeLoss
19558000
us-gaap Restricted Stock Expense
RestrictedStockExpense
1839000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
206706000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
235000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-17204000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2259000
us-gaap Interest Paid
InterestPaid
1434000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1115000
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
26000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
3703000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
19558000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
12722000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
587000
us-gaap Interest Expense
InterestExpense
1763000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16765000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
43353000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1599000
us-gaap Restructuring Charges
RestructuringCharges
4806000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
6210000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3125000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6516000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11033000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7155000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
778000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2857000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1851000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1328000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1717000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
330000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
78000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1175000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
763000000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-4215000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
4728000
cts Stock Issued During Period Shares Stock Options Exercised Gross
StockIssuedDuringPeriodSharesStockOptionsExercisedGross
115100 shares
cts Increase Decrease In Effective Income Tax Rate Continuing Operations
IncreaseDecreaseInEffectiveIncomeTaxRateContinuingOperations
0.004 pure
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
3527200000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
10908000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.06
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.105
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.03
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
634 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
203704 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33603000 shares
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-166000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4756000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
307075000
cts Amortization Of Retirement Benefit Adjustments
AmortizationOfRetirementBenefitAdjustments
4296000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
shares
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.186 pure
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25495000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
199969 shares
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.06
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
226449 shares
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.03
us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33603000 shares
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
63000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4253000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4253000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2977000
us-gaap Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
254000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3524000
us-gaap Operating Income Loss
OperatingIncomeLoss
12677000
us-gaap Increase Decrease In Prepaid Pension Costs
IncreaseDecreaseInPrepaidPensionCosts
2422000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
546000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3305000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1101000
us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-5336000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11576000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
153561000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
2357000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2224000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
381000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
2103000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1646000
us-gaap Net Income Loss
NetIncomeLoss
-948000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1300000
us-gaap Interest Paid
InterestPaid
2506000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7639000
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
1203000
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
373000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
409000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2151000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16677000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
376000
us-gaap Interest Expense
InterestExpense
2782000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17741000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52662000
us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
10260000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-265000
us-gaap Restructuring Charges
RestructuringCharges
8107000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-12841000
us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
10800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13727000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10315000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1646000
us-gaap Restricted Stock Expense
RestrictedStockExpense
3141000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
215888000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
16000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3284000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-28397000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-4046000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
593000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2235000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1623000
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
140550000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
4190000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
3104000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3582000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3502300000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
26443000
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
1154000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
5651000
cts Disposal Group Including Discontinued Operation Restructuring Costs And Asset Impairment Charges
DisposalGroupIncludingDiscontinuedOperationRestructuringCostsAndAssetImpairmentCharges
648000
cts Amortization Of Retirement Benefit Adjustments
AmortizationOfRetirementBenefitAdjustments
6494000
CY2014Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
120 Person
CY2013Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1172000
CY2013Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
533000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
50402000
CY2012Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
190 Person
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3623000
CY2013Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
200000
CY2013Q2 us-gaap Foreign Earnings Repatriated
ForeignEarningsRepatriated
30000000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
635000 shares
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.333 pure
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.16
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34331000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.16
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.035
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.05
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33696000 shares
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1344000
CY2013Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
103632000
CY2013Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1084000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2306000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2306000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
187000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7553000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9125000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
113000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7666000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
55931000
CY2013Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
2726000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
490000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
2539000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
6819000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
441000
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
1704000
CY2013Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-210000
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
5115000
CY2013Q3 us-gaap Interest Expense
InterestExpense
818000
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5718000
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17829000
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
2938000
CY2013Q3 us-gaap Restructuring Charges
RestructuringCharges
901000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2551000
CY2013Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
660000
CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
71631000
CY2013Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1222000
CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
1022000
CY2013Q3 cts Disposal Group Including Discontinued Operation Restructuring Costs And Asset Impairment Charges
DisposalGroupIncludingDiscontinuedOperationRestructuringCostsAndAssetImpairmentCharges
52000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
508000 shares
CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.319 pure
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.24
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34107000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.24
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.040
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33599000 shares
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-981000
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
99957000
CY2014Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
132000
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
208000
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
208000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
11223000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8325000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
701000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11924000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
562000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
8117000
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
707000
CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
153000
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
8117000
CY2014Q3 us-gaap Interest Expense
InterestExpense
568000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5807000
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
13899000
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
1570000
CY2014Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2064000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3807000
CY2014Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
660000
CY2014Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
67458000
CY2014Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1036000
CY2014Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-637000
CY2014Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
76000
CY2014Q3 cts Increase Decrease In Effective Income Tax Rate Continuing Operations
IncreaseDecreaseInEffectiveIncomeTaxRateContinuingOperations
-0.033 pure

Files In Submission

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0001193125-14-384900-index-headers.html Edgar Link pending
0001193125-14-384900-index.html Edgar Link pending
0001193125-14-384900.txt Edgar Link pending
0001193125-14-384900-xbrl.zip Edgar Link pending
cts-20140928.xml Edgar Link completed
cts-20140928.xsd Edgar Link pending
cts-20140928_cal.xml Edgar Link unprocessable
cts-20140928_def.xml Edgar Link unprocessable
cts-20140928_lab.xml Edgar Link unprocessable
cts-20140928_pre.xml Edgar Link unprocessable
d793948d10q.htm Edgar Link pending
d793948dex31a.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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