CTS: Set for worst day in over a decade on Q3 profit miss, annual forecast cut

CTS

24/10/2019 16:56

** Electronics parts maker's shares  CTS.N  drop 14.5% to
$28.87 after Q3 profit misses estimates, cuts FY19 sales outlook
    ** Stock among top pct losers on NYSE; set for its biggest
one-day percentage loss in more than a decade, if losses hold
    ** Co has missed est twice in the last 8 qtrs, records
biggest pct miss of 24.9% this qtr - Refinitiv data
    ** Now expects FY sales between $460 mln and $470 mln,
compared with prior forecast of $470 mln - $490 mln  urn:newsml:reuters.com:*:nGNX4lp34C
    ** Sees FY adj. EPS in the range of $1.40 - $1.50 vs est. of
$1.60/shr
    ** Stock up ~12% YTD 

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))