Science & Technology
Science and Technology
Science and Technology
Fri, January 16, 2009
Thu, January 15, 2009 CTS Awarded Production Program for Mini-Joystick for New Consumer Applications
ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) today announced that it has been awarded production business from a new customer to provide a mini-joystick for a new cell phone gaming application.
CTS Electrocomponents will provide a unique and innovative mini-joystick, considered the smallest in the world, providing precision control for hand held gaming devices. The new application is expected to achieve full production in early 2009, initially serving European and Latin American markets. This business is expected to add approximately $4 - 5 million of new revenue in the next five years.
This win reflects CTS' strategy to diversify its business through new applications for its technology. CTS' mini-joystick is currently used in other applications for in flight entertainment, gaming controllers and remote control devices.
For more information on CTS' mini-joystick products, please contact Mark Ahlemann at 574-523-3800.
About CTS
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical, defense and aerospace and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the CTS Web site at [ www.ctscorp.com ].
Safe Harbor Statement
This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events and any other statements that are not based solely on historical fact. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These forward-looking statements are made subject to certain risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements, including, without limitation, potential changes in the economy generally and in respect to the businesses in which CTS operates; rapid technological change in the automotive, communications and computer industries; reliance on key customers; CTS' ability to protect its intellectual property; pricing pressures and demand for CTS' products; the Company's successful execution of its restructurings and profit improvement plans; and risks associated with CTS' international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. For more detailed information on the risks and uncertainties associated with CTS' business, see the reports CTS files with the SEC, available at [ http://www.ctscorp.com/investor_relations/investor.htm ]. CTS undertakes no obligation to publicly update its forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.
