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$MTSC {{ '2017-11-27T21:41:05+0000' | timeago}} • Announcement

$MTSC expects FY18 revenue of $780-820MM and GAAP EPS of $2.05-2.30. This guidance reflects additional restructuring expenses of $1-3MM for actions initiated in FY17. In addition, the company is forecasting adjusted EBITDA for the full year to range between $120-140MM.

$MTSC {{ '2017-11-27T21:41:05+0000' | timeago}} • Announcement

$MTSC expects FY18 revenue of $780-820MM and GAAP EPS of $2.05-2.30. This guidance reflects additional restructuring expenses of $1-3MM for actions initiated in FY17. In addition, the company is forecasting adjusted EBITDA for the full year to range between $120-140MM.

$MTSC {{ '2017-11-27T21:40:53+0000' | timeago}} • Announcement

For Sensor business, $MTSC expects strong demand to continue in FY18, driven by new products across all major markets and geographies. Also, with the integration efforts substantially complete, $MTSC expects further realization of synergies related to both operational efficiencies and revenue growth, over the next several years.

$MTSC {{ '2017-11-27T21:40:42+0000' | timeago}} • Announcement

Looking to FY18, for the Test business, given the highly skewed orders profile in 2H17 and custom project backlog weighting, as $MTSC enters the new year, it expects to experience flat to slightly declining revenue growth and modest earnings growth for 2018, with 2H expected to perform stronger than 1H.

$MTSC {{ '2017-11-27T21:40:04+0000' | timeago}} • Announcement

During 4Q17, $MTSC initiated a series of restructuring actions in Test and Sensors to lift organizational effectiveness, gain manufacturing efficiencies and provide cost savings to reinvest in growth initiatives. This resulted in $3MM of additional expense recognized during 4Q. $MTSC expects to incur $1-3MM of additional expense in FY18.

$MTSC {{ '2017-11-27T21:39:49+0000' | timeago}} • Announcement

$MTSC's Test orders for 4Q17 increased 11.7% to $153.3MM from last year. This was attributable to accelerated quoting rates and deal closure from the Test opportunity pipeline that remains near $1Bil in opportunities over the next 12 months.

$MTSC {{ '2017-11-27T21:39:38+0000' | timeago}} • Announcement

$MTSC's Test revenue for 4Q17 dropped 14.6% year-over-year. Sensors revenue partially offset the decline in the Test business with an 11.7% increase, driven by greater demand in the positional sensors sector and new opportunities in the test sensors sector.

$MTSC {{ '2017-11-27T21:39:27+0000' | timeago}} • Announcement

$MTSC's revenue for 4Q17 fell 6.2% to $201.5MM from last year, on reduced opening backlog in Test. This was the result of two factors, lower order levels in 2H16 and 1H17, combined with improvements in manufacturing efficiencies which resulted in accelerated build rates throughout the period.

$MTSC {{ '2017-11-27T21:38:59+0000' | timeago}} • Announcement

$MTSC reported a flat earnings in 4Q17 as lower costs and an income tax benefit offset a decline in revenue. Net income was $5.57MM or $0.29 per share, flat with last year. The latest quarter results include a reduction in the effective tax rate stemming from U.S. R&D tax credits and a more favorable geographic mix of earnings.

$MTSC {{ '2017-07-31T20:54:52+0000' | timeago}} • Announcement

$MTSC's BoD declared a quarterly dividend of $0.30 per share. The dividend is payable on Oct. 2, 2017 to shareholders of record as of the close of business on Sept. 18, 2017.

$MTSC {{ '2017-07-06T20:31:06+0000' | timeago}} • Announcement

$MTSC completed the repricing of its existing $457MM senior secured Term Loan B facility. The new applicable rate is LIBOR plus 325BP, subject to a 0.75% LIBOR floor, resulting in interest savings of over $4MM per year. The company also repriced its revolving credit facility of up to $120MM to reduce the applicable rate by 100BP.

$MTSC {{ '2017-06-07T21:04:08+0000' | timeago}} • Announcement

$MTSC has declared a quarterly dividend of $0.30 per share. The dividend is payable on July 7, 2017 to shareholders as on June 23, 2017.

$MTSC {{ '2017-06-07T13:51:00+0000' | timeago}} • Announcement

$MTSC has entered into a partnership with McLaren Applied Technologies to develop an all-electric automotive driving simulator. It will be used by vehicle manufacturers and their suppliers to conduct real-world driving simulations of vehicle performance and provide engineers with early insights in the design cycle.

$MTSC {{ '2017-04-24T20:59:33+0000' | timeago}} • Announcement

$MTSC appointed Brian Ross, currently MTS Systems Corporate Controller, as SVP and CFO for the company, effective May 12, 2017. Ross will replace Jeff Oldenkamp who is resigning from the company to pursue other opportunities.

$MTSC {{ '2017-04-11T15:13:53+0000' | timeago}} • Webcast

$MTSC said that for FY17 there are no significant synergies and its focus is on integrating PCB and becoming a public company. Also, the company will be focused on combining the two sensors business. Long term, $MTSC believes there is $20-30MM in revenue synergies and $5-7MM of net cost synergies, which the company expects to achieve in 4-5 years.

$MTSC {{ '2017-04-11T14:55:50+0000' | timeago}} • Webcast

By business, $MTSC's Sensors' GM for 1Q17 was $27MM, up $15MM, driven by the contribution from the PCB acquisition. Going forward, Sensors GM is expected to be in the low 50% range, with improvements expected as the volume increases. Test GM was up 14% to $47MM, mainly from higher revenue. For FY17, Test GM is expected to be in the 33-35% range.

$MTSC {{ '2017-04-11T14:43:12+0000' | timeago}} • Webcast

$MTSC stated its earnings in 1Q17 exceeded expectations, driven by the higher than expected revenue, which was partially offset by higher than anticipated acquisition related costs. Test revenue increase 25% in the quarter, with Test Services recording a 8% growth YoY.

$MTSC {{ '2017-04-10T20:48:03+0000' | timeago}} • Announcement

$MTSC stated that a probe conducted using external legal counsel and forensic experts confirmed that certain employees involved with its China Test business violated its Code of Conduct by starting a firm that competes with $MTSC, within China. However, the investigation did not find any evidence of intellectual property theft.

$MTSC {{ '2017-04-10T20:43:18+0000' | timeago}} • Announcement

For FY17, $MTSC sees revenues in the range of $760-790MM and GAAP earnings per share of $0.80-1.20. Adjusted EBITDA is expected between $115MM and $130MM.

$MTSC {{ '2017-04-10T20:39:30+0000' | timeago}} • Announcement

$MTSC's decline in net earnings in 1Q17 was primarily driven by negative impacts of fair value adjustment, acquisition integration expenses, China investigation over Code of Conduct violation and restructuring expenses. Excluding these items, net earnings were $0.55 per share.

$MTSC {{ '2017-04-10T20:33:24+0000' | timeago}} • Announcement

$MTSC reported a 42% growth in revenue to $199.3MM in 1Q17, helped by organic revenue growth and PCB acquisition. However, expenses outpaced revenue growth, which resulted in a fall in net income to $1.7MM, or $0.09 per share, compared to $11.7MM, or $0.78 per share in the year-over period. Adjusted EBITDA stood at $31.5MM.

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