Components & Sensors: Components and Sensors second quarter 2012 sales increased $8.8 million, or 13%, from the second quarter of 2011. Automotive sensor and actuator sales increased $7.0 million, or 17%, driven primarily by higher pedal module sales to Japanese OEMs. Sales of electronic components increased $1.8 million, or 7%, from improved piezoceramic product demand, including HDD sales, and incremental sales from the acquisition. Despite the higher sales, segment operating earnings before corporate and shared services charges decreased $0.4 million from the same period last year primarily from higher pension expenses.Components and Sensors second quarter 2012 sales were essentially flat from the first quarter of 2012. Within Automotive sensor and actuator products, the new grill shutter actuator product was launched one quarter earlier, while products sold in the European market were negatively impacted by the weak European economy. Sales of electronic component products include a full quarter of sales from the acquisition. Segment operating earnings before corporate and shared services charges improved $1.1 million from the first quarter of 2012 primarily from lower research and development expenses and a customer prototype reimbursement.
CTS Announces Second Quarter 2012 Financial Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts