CTS Corporation Named by Business Week
4 December 1998
CTS Corporation Named by Business Week as One of the World's Top 100 Information Technology Companies
ELKHART, Ind.--Dec. 3, 1998--CTS Corporation has been rated number 88 in Business Week's first annual "Information Technology 100" (Business Week, November 2, 1998, pages 108-118), a statistical review of performance of companies in the high-tech industry. The purpose of the ranking is to establish a quantitive view of which companies are the top performers in what is fast becoming the world's most important industry. In the U.S., technology contributes roughly 30% of the growth in domestic product.CTS Corporation designs, manufactures and sells a broad line of electronic components and custom assemblies, primarily serving the electronic needs of original equipment manufacturers (OEMs). CTS product lines serve major markets around the world with a wide range of technologies and capabilities. Consolidated 1997 CTS Corporation sales exceeded $400 million. CTS operates 18 manufacturing facilities in the United States, Canada, Mexico, Scotland, Singapore, Taiwan and China, and employs more than 4,800 persons worldwide.
The Business Week ratings were determined by evaluating high-tech companies culled from the financial database of Standard & Poor's Compustat, a division of the McGraw-Hill Companies that has computerized information on 10,000 publicly traded corporations, and by adding non-U.S. companies recommended by Business Week's network of foreign bureaus. To qualify, companies had to have revenues of at least $300 million. Internet companies of all sizes were included, because their impact is often more significant than their revenues. The approximate 400 companies were then divided into eight industry categories, including software, networking and the Internet. Companies that did not increase revenues as fast as their industry were eliminated from contention. The remaining group of companies was ranked on four criteria that were given equal weight: Shareholder return, return on equity, revenue growth, and total revenues. Companies with sharp declines in current financial results were excluded, as were companies where other developments raised questions about future performance. The top 125 companies were reranked and culled to form Business Week's Top 100 Information Technology Companies.
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CTS Corporation, listed on the New York Stock Exchange, , is primarily a diversified manufacturer of electronic components principally for the computer equipment, automotive, and communications equipment markets. The Company, headquartered in Elkhart, Indiana, operates manufacturing plants in the United States and abroad.