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CTS Corporation (NYSE:CTS), a manufacturer of printed circuit boards with a market capitalization of $1.26 billion, announced the results of its Annual Meeting of Shareholders held on May 8, 2025. According to InvestingPro data, the company maintains strong financial health with a current ratio of 2.63, indicating robust liquidity. The meeting saw the election of all director nominees and the approval of two key proposals, as detailed in the definitive proxy statement filed on March 28, 2025.
The election results confirmed seven directors to serve until the next annual meeting. The directors elected include Donna M. Costello, Amy M. Dodrill, William S. Johnson, Kieran M. O’Sullivan, Robert A. Profusek, Randy L. Stone, and Alfonso G. Zulueta. Each director received a substantial majority of votes, with the lowest number of votes for being 26,865,017 and the highest 27,231,459. The number of broker non-votes ranged from 771,044 to 771,044 across all directors.
In addition to the election of directors, the shareholders approved, on a non-binding advisory basis, the compensation of the named executive officers. The vote in favor was 26,405,567 against 829,460, with 81,486 abstentions.
Furthermore, the appointment of Grant Thornton, LLP as the company’s independent registered public accounting firm for the year ending December 31, 2025, was ratified with 27,571,033 votes for, 510,588 against, and 5,936 abstentions.
The company, based in Lisle, Illinois, conducted the voting in accordance with the Securities Exchange Act of 1934, and the results of the meeting were filed with the U.S. Securities and Exchange Commission. The filing was signed by Deanna R. Kunze, Deputy General Counsel and Corporate Secretary, on behalf of CTS Corporation. Despite recent market challenges reflected in a 30% decline over the past six months, the company maintains moderate debt levels and strong profitability metrics. Discover more comprehensive insights about CTS and access detailed financial analysis through InvestingPro’s extensive research reports, available for over 1,400 US stocks.
In other recent news, CTS Corporation reported its Q1 2025 earnings, falling short of analyst expectations. The company posted earnings per share of $0.44, missing the projected $0.57, while revenue reached $125.77 million, below the anticipated $136.81 million. This marks a challenging period for CTS, as both earnings and revenue did not meet forecasts. The company continues to focus on its diversification strategy, with a 14% increase in sales in diversified end markets, though transportation sales saw a 12% decline. Despite these setbacks, CTS maintains its full-year sales guidance of $520-$550 million and adjusted diluted EPS guidance of $2.20-$2.35. The company anticipates stronger revenue in the upcoming quarters, driven by strategic initiatives and product diversification. Analysts from Sidoti have noted the company’s efforts to adapt to the current market conditions, with emphasis on maintaining strategic flexibility amidst geopolitical and tariff challenges. These developments reflect CTS Corporation’s ongoing efforts to navigate economic pressures while focusing on long-term growth.
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