CTS Corporation (NYSE:CTS) today announced third quarter 2016 results.

Sales were $99.7 million. Excluding $3.2 million from the single crystal acquisition, sales grew 6.4% compared to the third quarter of 2015 and 0.9% sequentially. Sales to automotive customers increased 5.2% year-over-year and declined 0.4% sequentially. Organic sales growth for electronic components was 9.2% year-over-year and 3.9% sequentially.

GAAP earnings were $3.7 million or $0.11 per diluted share, which included $0.11 for one-time unfavorable tax items, $0.04 for restructuring, and $0.02 for a one-time lease termination fee. A GAAP loss of $4.8 million or $0.15 per share was reported in the third quarter of 2015, which included $0.28 for a non-recurring environmental charge, $0.06 for restructuring, and $0.04 for one-time unfavorable tax items.

Adjusted EPS was $0.28 per diluted share versus $0.26 in the second quarter of 2016 and $0.23 in the third quarter of 2015.

New business awards were $103 million in the third quarter and $356 million year-to-date.

“We are pleased with the continued improvement in sales and profitability,” said Kieran O’Sullivan, CEO of CTS Corporation. “ The team’s hard work has resulted in four consecutive quarters of sales growth, and we remain focused on driving profitable growth around products that Sense, Connect and Move. The single crystal acquisition has been a solid strategic addition to our portfolio, and the integration is going well.”

2016 Guidance

Management expects full year 2016 sales to be in the range of $390 to $400 million, including sales from the single crystal acquisition. Adjusted earnings per diluted share for 2016 are expected to be in the range of $1.00 to $1.06.

Conference Call

As previously announced, the Company has scheduled a conference call at 11:00 a.m. (EDT) today to discuss the third quarter financial results. The dial-in number is 877-548-7906 (719-325-4773, if calling from outside the U.S.). The conference I.D. number is 5139796. There will be a replay of the conference call from 2:00 p.m. (EDT) today through 2:00 p.m. (EDT) on Friday, November 11, 2016. The telephone number for the replay is 888-203-1112 (719-457-0820, if calling from outside the U.S.). The access code is 5139796. A live audio webcast of the conference call will be available and can be accessed directly from the Investors section of the website of CTS Corporation at www.ctscorp.com.

About CTS

CTS (NYSE:CTS) is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components in North America, Europe and Asia, and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets.

For more information visit www.ctscorp.com.