CTS(US:CTS) Globenewswireยท2025-02-04 13:00Core Insights - CTS Corporation has made significant progress in diversifying its business, with over 50% of revenue now coming from medical, industrial, and aerospace and defense markets [2][11] - The company reported solid profitability improvements and strong cash flow despite challenging market conditions, particularly in transportation [2] - CTS anticipates further growth in diversified markets in 2025, driven by new programs and improving market conditions [2] Fourth Quarter 2024 Results - Sales for Q4 2024 were $127 million, a 2% increase year-over-year, with diversified end-markets sales rising by 28% [7] - Transportation end-market sales decreased by 18% year-over-year [7] - Net income for Q4 2024 was $14 million, or 11% of sales, compared to $15 million, or 12% of sales in Q4 2023 [7] - Adjusted earnings per diluted share increased to $0.53 from $0.47 in Q4 2023 [7] Full-Year 2024 Results - Total sales for 2024 were $516 million, down 6% year-over-year, primarily due to a decline in the transportation end-market [7] - Net income for 2024 was $58 million, or 11% of sales, compared to $61 million in 2023 [7] - Adjusted earnings per diluted share decreased to $2.17 from $2.22 in 2023 [7] 2025 Guidance - CTS expects full-year 2025 sales to be in the range of $520-$550 million and adjusted diluted EPS to be between $2.20 and $2.35 [5] Cash Flow and Profitability - Operating cash flow for Q4 2024 was $26 million, down from $32 million in Q4 2023 [7] - Free cash flow for 2024 was $80.6 million, compared to $74.1 million in 2023 [35] Acquisition Impact - The SyQwest acquisition contributed $11 million in revenue for Q4 2024 and $14 million for the full year [7]