CTS Warns of Lower-Than-Expected Results

CTS (CTS Quote) said Tuesday it expects first-quarter and full-year 2001 results to be below previous forecasts because of the "severe economic downturn."

The manufacturer of electronic components for wireless devices, autos and computers said it now expects earnings of 4 cents to 8 cents a share in the first quarter, and $2.10 to $2.40 for the full year. Four analysts surveyed by First Call/Thomson Financial were expecting first-quarter earnings of 67 cents a share, and full-year earnings of $3.20 a share.

First quarter revenue will be off about 7% to 12% from the $204.5 million posted in the first quarter of 2000, the company said. ...