CTS Corp (NYSE:CTS)
$ 52.72 -0.4 (-0.75%) Market Cap: 1.59 Bil Enterprise Value: 1.63 Bil PE Ratio: 27.18 PB Ratio: 3.00 GF Score: 76/100

Q4 2021 CTS Corp Earnings Call Transcript

Feb 08, 2022 / 03:00PM GMT
Release Date Price: $32.65 (+1.68%)
Operator

At this time, I would like to welcome everybody to the CTS Corporation Fourth Quarter and Full Year 2021 Conference Call. (Operator Instructions) A supplemental slide presentation to accompany the prepared remarks can be found on the company's website. (Operator Instructions) At this time, I would like to turn the conference call over to Mr. Kieran O'Sullivan, CEO of CTS Corporation. Mr. O'Sullivan, you may begin your conference.

Kieran M. O;Sullivan
CTS Corporation - Chairman, President & CEO

' -

Thanks, Bailey. Good morning, and welcome, everyone, to our fourth quarter and full year 2021 earnings call. We delivered strong financial results and achieved record-breaking new business awards despite pandemic-related and supply challenges. For the fourth quarter 2021, sales increased 7.7% to $133 million. Gross margin was 36.7% in the fourth quarter, up 200 basis points. Adjusted EBITDA margin was 20.9%, largely flat versus the fourth quarter of 2020.

Fourth quarter adjusted diluted earnings per share increased 14% to $0.49. Fourth

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