CTS Announces Sale of Product Line to TXC Corporation.Business Editors ELKHART, Ind.--(BUSINESS WIRE)--Jan. 10, 2003 CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . Corporation (NYSE NYSE See: New York Stock Exchange :CTS) today announced an agreement with TXC TXC Transmission Control TXC Terror X Crew (band) TXC Transmit External Clock (Cisco) Corporation for the sale of CTS' 3.2mm x 5mm Temperature Compensated Crystal Oscillator An oscillator that uses a quartz crystal to generate a frequency. Such devices generally output a fixed frequency, but some can be controlled by a tuning voltage over a small range. Contrast with VCO. (3.2 x 5 TCXO TCXO Temperature Compensated Crystal Oscillator TCXO Temperature-Controlled Crystal Oscillator ) product line. The 3.2 x 5 TCXO products are used primarily in mobile handset applications and represent about $5 million in annual sales to CTS. TXC Corporation, based in Taiwan, and CTS have a long-term working relationship and supply partnership. Under the agreement, CTS will transfer the production equipment for the 3.2 X 5 TCXO, as well as the associated design and production know-how for the 3.2 mm X 2.5mm TCXO product, to TXC over the next several months. TXC expects to quickly re-qualify the production line in its facility allowing it to support customer deliveries. TXC is a leading designer and manufacturer of crystal-based products for consumer, communications and information technology applications. The Company's shares are traded on the Taiwan Stock Exchange Taiwan Stock Exchange (TSEC) Established in 1961, the only centralized securities market in Taiwan. under the symbol "TXC". CTS Corporation is a leading designer and manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company manufactures products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. The Company's stock is traded on the NYSE under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CTS." Statements about the Company's earnings outlook and its plans, estimates and beliefs concerning the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations. Actual results may differ materially from those reflected in the forward-looking statements due to a variety of factors which could affect the Company's operating results, liquidity and financial condition. We undertake no obligations to publicly update or revise any forward-looking statements. Factors that could impact future results include among others: the general market conditions in the communications, computer and automotive markets, and in the overall economy; whether the Company is able to implement measures to improve its financial condition and flexibility; the Company's successful execution of its restructurings, consolidation and cost-reduction plans; pricing pressures and demand for the Company's products, especially if economic conditions worsen or do not recover in the key markets for the Company's products; and risks associated with our international operations, including trade and tariff barriers, exchange rates and political risks. Investors are encouraged to examine the Company's SEC filings, which more fully describe the risks and uncertainties associated with the Company's business.
Released By: CTS Corporation
905 West Boulevard North
Elkhart, IN 46514
Ph: 574-293-7511, Fax 574-293-0251
www.ctscorp.com
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