CTS Corporation (CTS) Q1 2025 Earnings Call

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WEBVTT 00:00:00.368 -- 00:00:05.610 Hello, everyone, and thank you for joining the CTS Corporation first quarter 2025 earnings 00:00:05.610 -- 00:00:09.492 call. My name is Marie and I will be coordinating your call today. 00:00:09.492 -- 00:00:13.974 During the presentation, you can register a question by pressing star followed by one 00:00:13.974 -- 00:00:18.957 on your telephone keypad. If you change your mind, please press star followed by two. 00:00:18.957 -- 00:00:24.079 I will now hand over to your host, Kieran O'Sullivan, Chairman, President and CEO 00:00:24.079 -- 00:00:27.304 to begin. Please go ahead. 00:00:27.304 -- 00:00:32.697 Good morning and thank you for joining us today for our first quarter 2025 00:00:32.708 -- 00:00:38.292 results. We continue to execute on our diversification strategy 00:00:38.292 -- 00:00:43.316 to increase growth in our diversified medical, industrial, aerospace and 00:00:43.316 -- 00:00:49.201 defense markets, while also progressing on electrification and transportation. 00:00:49.201 -- 00:00:53.743 Revenue from our diversified markets grew 14% in the quarter. 00:00:53.987 -- 00:00:59.611 We also achieved strong bookings with a book-to-bill ratio of 1.28 00:00:59.611 -- 00:01:02.553 for the diversified end markets. 00:01:02.553 -- 00:01:07.157 In April, we added a win for a new product line in transportation, 00:01:07.157 -- 00:01:10.680 expanding our presence in the vehicle footwell. 00:01:10.680 -- 00:01:15.743 Current bookings for the second quarter indicate an improving trend while 00:01:15.743 -- 00:01:21.688 we are cautious on second half demand given current levels of uncertainty due to tariffs 00:01:21.688 -- 00:01:23.946 and the geopolitical environment. 00:01:23.946 -- 00:01:26.227 Ashish will take us through the Saf...