CTS CORP

For the period ended Jun 30, 2025. Filed Jul 24, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 24, 2025

CTS$61.48+1.6%Stored close · as of Nov 10, 2026

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Contents

Item 1. Financial Statements

CONDENSED CONSOLIDATED STATEM ENTS OF EARNINGS - UNAUDITED

(In thousands, except per share amounts)

	Three Months Ended		Six Months Ended
	June 30,	June 30,	June 30,	June 30,
	2025	2024	2025	2024
Net sales	$135,309	$130,162	$261,078	$255,912
Cost of goods sold	82,878	83,790	162,099	164,450
Gross margin	52,431	46,372	98,979	91,462
Selling, general and administrative expenses	23,077	21,332	46,700	43,591
Research and development expenses	6,326	6,086	12,515	12,687
Restructuring charges	297	1,190	749	2,884
Operating earnings	22,731	17,764	39,015	32,300
Other income (expense):
Interest expense	(1,121)	(833)	(2,289)	(1,635)
Interest income	622	1,441	1,068	2,827
Other income (expense), net	750	(603)	1,307	(2,066)
Total other income (expense), net	251	5	86	(874)
Earnings before income taxes	22,982	17,769	39,101	31,426
Income tax expense	4,455	3,062	7,210	5,600
Net earnings	$18,527	$14,707	$31,891	$25,826
Earnings per share:
Basic	$0.62	$0.48	$1.07	$0.84
Diluted	$0.62	$0.48	$1.06	$0.84
Basic weighted – average common shares outstanding:	29,739	30,511	29,875	30,627
Effect of dilutive securities	251	219	285	224
Diluted weighted – average common shares outstanding:	29,990	30,730	30,160	30,851
Cash dividends declared per share	$0.04	$0.04	$0.08	$0.08

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS ‑ UNAUDITED

	Three Months Ended		Six Months Ended
	June 30,	June 30,	June 30,	June 30,
	2025	2024	2025	2024
Net earnings	$18,527	$14,707	$31,891	$25,826
Other comprehensive earnings (loss):
Changes in fair market value of derivatives, net of tax	2,847	(1,675)	3,723	(944)
Changes in unrealized pension cost, net of tax	(123)	35	(109)	99
Cumulative translation adjustment, net of tax	8,024	(523)	12,672	(2,644)
Other comprehensive earnings (loss)	$10,748	$(2,163)	$16,286	$(3,489)
Comprehensive earnings	$29,275	$12,544	$48,177	$22,337

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.