EPS of 12c beat estimates of 9.3c; sales of $665M were 3% ahead of estimates. EBITDA of $41.2M matched estimates. EPS did fall from 14c last year. Revenue rose 12%. CTS renewed its share buyback. On an accounting basis, it did record a net loss vs profit of last year. Backlog was $448M. Considering the stock had already been so weak, the drop today is a bit surprising..but....on the call CTS discussed that margins may stay weak into next year, and this has unnerverd investors. With the drop today we would consider it a HOLD, but clearly there needs to be an improvement here going forward.
5i Research Answer: