CTS Renews Stock Buy-Back Program
6 March 2000
CTS Renews Stock Buy-Back Program
ELKHART, Ind.--March 6, 2000--In response to inquiries, CTS Corporation confirmed that it had renewed its previously announced stock purchase program. Under the Company's current authorization, CTS may repurchase up to an additional 400,000 shares in the open market or otherwise depending upon market conditions and other factors.Joseph P. Walker, Chairman and Chief Executive Officer of CTS, said, "We feel that our stock has been undervalued in the securities markets over the recent period and represents an attractive opportunity for us to invest without diminishing our long-term capital plans."
The Company's plans, estimates and beliefs concerning the future contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those reflected herein due to a variety of factors that could affect the Company's operating results, liquidity and financial condition, such as risks associated with the integration of acquired operations, competitive factors and price pressures, shifts in market demand and general economic conditions, foreign operations and developments and other factors.
CTS Corporation designs, manufactures and sells a broad line of electronic components and custom electronic assemblies for OEM customers primarily in the communications equipment, automotive and computer equipment markets worldwide. CTS operates manufacturing facilities in the United States, Canada, Mexico, Scotland, Singapore, Taiwan and China. For additional information, visit our website at www.ctscorp.com.