CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) UNAUDITED

CTS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - UNAUDITED
(In thousands, except per share amounts)
Net sales
Three Months Ended
December 31,
December 31,
2014
2013
Twelve Months Ended
December 31,
December 31,
2014
2013
$
$
100,378
$
102,386
404,021
$
409,461
Costs and expenses:
Cost of goods sold
Selling, general and administrative expenses
Research and development expenses
Restructuring charge
67,352
15,783
5,798
1,135
72,220
17,327
5,481
2,348
274,058
59,136
22,563
5,941
288,108
69,989
23,222
10,455
Operating earnings
10,310
5,010
42,323
17,687
Other (expense) income:
Interest expense
Interest income
Other income (expense)
Total other income (expense)
(563)
827
(1,817)
(1,553)
(482)
601
1,358
1,477
(2,326)
2,786
(3,435)
(2,975)
(3,264)
1,901
1,739
376
Earnings from continuing operations before income taxes
8,757
6,487
39,348
18,063
Income tax expense
1,793
2,339
12,826
16,066
Earnings from continuing operations
6,964
4,148
26,522
1,997
Discontinued operations
Loss from discontinued operations, net of tax
-
(7,129)
-
(5,926)
Net earnings (loss)
$
6,964
$
(2,981)
$
26,522
$
(3,929)
Net earnings (loss) per share:
Basic
Continuing operations
Discontinued operations
Net earnings (loss) attributable to CTS Corporation
$
0.21
0.21
$
0.12
(0.21)
(0.09)
$
0.79
0.79
$
0.06
(0.18)
(0.12)
$
$
0.12
(0.21)
(0.09)
0.78
0.78
$
$
0.21
0.21
$
0.06
(0.18)
(0.12)
$
0.040
$
0.040
0.160
$
0.145
Diluted
Continuing operations
Discontinued operations
Net earnings (loss) attributable to CTS Corporation
Cash dividends declared per share
Average common shares outstanding:
Basic
Diluted
$
$
$
$
$
33,431
33,594
33,618
33,601
33,935
34,314
34,130
34,249
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