View - CTS Corp.

CTS Corporation
Reconciliation of Operating Earnings (Loss) to Adjusted Operating Earnings (Loss)
($ in millions)
As Reported for 2013 Continuing Operations excluding EMS divestiture Discontinued Operations:
2015
Q2-YTD
Operating earnings / (loss) from continuing operations
$
Charges (credits) to reported operating earnings (loss):
Restructuring, restructuring-related, and asset impairment charges
Goodwill impairment
Gain on sale-leaseback
Additional legal costs
Transaction Costs
Additional CEO search, legal costs and acquisition\
21.0
2015
Q2
$
3.1
-
Total adjustments to reported operating earnings / (loss) from continuing operations
10.5
2015
Q1
$
2.3
-
3.1
10.5
0.8
-
2.3
10.3
$
1.7
-
0.8
32.0
1.7
24.1
$
12.8
$
11.3
$
12.0
$
38.2
$
198.4
$
100.1
$
98.3
$ 100.4
$
303.6
12.8%
11.5%
12.0%
Nine Months
Operating earnings / (loss)
$
14.8
$
10.0
0.6
2.3
Charges (credits) to reported operating earnings (loss):
Restructuring, restructuring-related, and asset impairment charges
Goodwill impairment
Gain on sale-leaseback
Additional legal costs
Transaction Costs
Additional CEO search, legal costs and acquisition*
Total adjustments to reported operating earnings / (loss)
$
27.6
Total Sales
$
460.6
Adjusted operating earnings / (loss), excluding above referenced items, as a percentage of total sales
*The 2012 quarterly expenses do not add to the full year or nine months amounts because the expenses in Q1 and Q2 were not material and therefore, not discussed.
6.0%
13.3
$ 100.0
10.1
$
$ 159.6
7.9%
13.0
$ 103.0
12.2%
12.6%
Q2
Q1
1.7
10.6
$ 151.6
7.0%
Q1
$
$
3.0
10.8
2014
$
1.1
-
3.1
$
1.1
$
11.9
$ 100.7
4.5
$ 149.5
3.0%
2013
$
$
33.6
$
409.5
$
12.4%
8.2%
Q4
Nine Months
12.2
$
3.8
(10.3)
2.7
$
20.4
$ 138.3
$
438.6
6.2%
4.7%
12.7
$
13.2
24.3
$ 282.9
5.6%
8.6%
Q2
6.8
$
$ 137.4
5.8%
$
3.8
-
1.2
8.0
7.6
11.5
$ 301.3
3.8%
5.7
4.5
$
9.5
$ 154.3
6.2%
2.9
$ 213.2
1.4%
Q1
$
1.9
1.9
$ 147.0
1.3%
7.2
$
2.4
-
$
2011
Q3
Q4
$
-
3.8
$
(1.6)
2.1
2.4
-
3.8
-
3.8
$
2009
$
1.0
`
$
2012
Q3 First Half
0.9
0.3
$
15.7
23.3
1.0
-
3.0
$
$ 279.9
4.3%
$
2010
$
2.6
0.3
-
(1.8)
$
5.9
8.5
2011
15.1
$ 304.5
4.7
1.2
(3.7)
$
14.4
Full year
2012
4.5
(10.3)
1.5
2.5
15.9
50.2
11.8%
$
11.8
4.1
7.9
$
17.7
$ 404.0
1.5
$
42.3
7.9
-
0.8
0.7
8.9
$
9.9
3.1
-
8.1
0.8
2.4
12.5
24.9
$ 203.7
1.1
0.6
0.8
$
Q2
$
4.1
$
2013
Q3
$
20.8
4.1
-
13.3%
12.9
Adjusted operating earnings / (loss), excluding above referenced items
$
2.1
$
12.6%
As Historically Reported prior to 2013 Discontinued Operations:
11.2
2.1
-
6.2
$
Total Sales from continuing operations
12.1%
$
6.2
-
Adjusted operating earnings / (loss), excluding above referenced items from contiuning operations
Adjusted operating earnings / (loss), excluding above referenced items, as a percentage of total sales from continuing operations
2014
Q3 First Half
Q4 Nine Months
$
9.6
$ 144.0
6.7%
$
-
2.4
$
7.8
7.8
$ 146.1
5.3%
Q1
$
0.7
0.3
-
$
Q2
4.5
5.5
$ 146.9
3.8%
5.8
$ 151.5
3.8%
6.0
$
1.7
-
$
2010
Q3
Q4
$
-
1.0
$
5.8
7.7
$ 145.0
5.3%
$
-
1.7
$
7.8
7.8
$ 139.4
5.6%
Q1
$
-
$
Q2
7.7
7.7
$ 138.9
5.6%
6.3
$ 129.4
4.9%
8.3
$
-
$
2009
Q3
Q4
$
-
$
6.3
8.3
$ 133.9
6.2%
$
-
$
6.3
-
$
6.3
$ 126.6
5.0%
Q2
3.2
$
3.2
$ 120.4
2.7%
Q1
$ (35.5)
2.2
33.2
-
26.7
$
8.5
(10.3)
4.0
35.4
$
28.9
$ 118.1
$ 576.9
5.0%
25.2
$
3.1
0.3
-
2.2
$ (0.1)
-0.1%
Full year
2011
2010
2012
$
28.7
$ 588.5
4.9%
2009
$ (17.8)
1.7
-
3.5
$
27.8
2.2
33.2
-
1.7
$
29.5
$ 552.6
5.3%
35.4
`
$
17.6
$ 499.0
3.5%