CTS Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported revenues of $144.0 million compared with $145.0 million a year ago. Fourth quarter 2011 revenues were negatively impacted by approximately $11 million-$13 million from the flooding in Thailand. Net earnings were $5.9 million, or $0.17 per diluted share, compared to $4.8 million, or $0.14 per diluted share, in the same period last year. Operating earnings were $7.2 million compared with $5.98 million a year ago. Earnings before income taxes were $7.2 million compared with $5.7 million a year ago. Adjusted earnings per share were $0.22 compared with $0.17 a year ago. For the year, the company's revenue was $588.5 million compared with $552.6 million a year ago. Operating earnings were $25.2 million compared with $27.8 million a year ago. Earnings before income taxes were $26.3 million compared with $28.0 million a year ago. Net earnings were $20.97 million or $0.60 per diluted share compared with $22.0 million or $0.63 per diluted share a year ago. Adjusted earnings per share were $0.67 compared with $0.66 a year ago. Despite the higher overall sales, earnings per share were only slightly higher primarily due to the natural disasters and increased research and development spending for new products. Cash flow from operations was $22.2 million and capital expenditures were $15.6 million. The company anticipates full-year 2012 sales to increase in the range of 10% to 13% over 2011 and diluted earnings per share to be in the range of $0.75 to $0.80. Included in 2012 earnings is a net adverse impact of approximately $0.05 per share from a combination of higher expected effective tax rate, higher pension costs and an expected property damage insurance recovery. Operating earnings are expected to grow a strong 20% to 22% over 2011 and be in the range of 5.3% of sales to 5.5% of sales, driven by improved segment mix and better capacity utilization. The full year 2012 tax rate to increase to approximately 25%, as earnings mix shift to higher tax rate jurisdiction, including the U.S. and certain benefits going away. Looking ahead, it expects 2012 full year free cash flow to be in the range of $16 million to $21 million. The company announced a 17% dividend increase to its shareholders. On an annual basis the dividend will now be $0.14 per share compared to the previous rate of $0.12 per share.