MTS Systems Updates 2018 Outlook - Quick Facts

(RTTNews) - MTS Systems Corp. (MTSC) announced the company now expects 2018 earnings per share to be in the range of $3.25 to $3.35, revised from prior guidance range of $3.55 to $3.85. The company said its diluted earnings per share reflects the adoption of the Tax Cuts and Jobs Act of 2017 and restructuring charges of approximately $2.0 million primarily related to the restructuring of Test operations in China.

For 2018, the company expects revenue in the range of $775 million to $785 million, revised from prior guidance range of $780 million to $820 million.

For the second-quarter, earnings per share was $0.47, a decline of $0.08 year-over-year. Revenue was $194.7 million, up 0.5% compared to the same quarter in the prior year, driven primarily by a 13.8% increase in Sensors business, partially offset by lower equipment and service volume in the ground vehicles sector of Test business.