CTS Electronics Manufacturing Solutions Awarded A Second Contract from a Major Medical Orthopedic Firm
CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, today announced that CTS EMS has been awarded a second production program to provide printed circuit board assemblies for a leading global medical orthopedic firm.
CTS EMS will provide assemblies used in a new orthopedic surgical application. These assemblies will be manufactured in CTS' New Hampshire facility with shipments beginning in the first quarter 2013. CTS is currently in production for high-volume surgical instrumentation, including printed circuit assemblies, testing, certification and final assembly in a clean room environment as a result of the first production award secured from this major medical orthopedic firm in 2011. Annual revenues from both programs are expected to be approximately $10 million.
This business win is a direct result of CTS' success in producing FDA approved medical instruments.
About CTS EMS
CTS EMS is a turnkey provider of manufacturing solutions to customers in a range of electronics equipment markets. With global manufacturing facilities in North America, Europe and Asia, a broad product offering and a complete range of turnkey services, CTS is the ideal choice for an OEM seeking customized product solutions from a focused and agile EMS partner.
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, communications, medical, defense and aerospace, industrial and computer markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS.” To find out more, visit the CTS Web site at www.ctscorp.com.
Safe Harbor Statement
This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events and any other statements that are not based solely on historical fact. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. These forward-looking statements are made subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements, including, without limitation: changes in the economy generally and in respect to the businesses in which CTS operates; unanticipated issues in integrating acquisitions; rapid technological change; general market conditions in the automotive, communications and computer industries, as well as conditions in the industrial, defense and aerospace and medical markets; reliance on key customers; unanticipated natural or other events such as the Japan earthquake and floods in Thailand; the ability to protect our intellectual property; pricing pressures and demand for our products; and risks associated with our international operations, including trade and tariff barriers, exchange rates and political and geographical risks. For more detailed information on the risks and uncertainties associated with CTS' business, see the reports CTS files with the Securities and Exchange Commission available at http://www.ctscorp.com/investor_relations/investor.htm. CTS undertakes no obligation to publicly update its forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.
Thomas A. Kroll, Vice President and Chief Financial Officer, 574-523-3800
Mitchell J. Walorski, Director of Investor Relations, 574-523-3800