MTS Reports Delay Of Form 10-K Filing As Result Of Internal Investigation

(RTTNews) - MTS Systems Corp. (MTSC) announced that it has initiated an internal investigation into apparent violations of the company's code of conduct involving certain employees in its China operations and this investigation will delay the issuance of its fourth quarter and full year earnings as well as the filing of the company's Annual Report on Form 10-K for fiscal 2016.

"We are pleased that we finished our fiscal year on a strong note. Our full year GAAP revenue and earnings per share were higher than we anticipated as a result of continued improvements in business performance," said Jeffrey Graves, President and Chief Executive Officer of MTS.

Preliminary full-year revenue is expected to be in the range of $645 million to $650 million, up from previously issued guidance of $630 million to $640 million, and preliminary GAAP EPS is expected to be in the range of $1.65 to $1.70, up from the previously issued guidance of $1.35 to $1.50.