Acquisition (Tables)

9 Months Ended

Sep. 30, 2012

Acquisition [Abstract]

Summarizes fair values of the assets acquired and the liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition:

	Estimated Fair Values
($ in thousands)	At January 23, 2012
Current assets	$	9,077
Property, plant and equipment		6,231
Goodwill		6,259
Amortizable intangible assets		2,420
In-process research and development		400
Other assets		231
Fair value of assets acquired, including $3,578 cash acquired		24,618
Less fair value of liabilities acquired		(6,351	)
Net assets acquired		18,267
Cash acquired		3,578
Net cash paid	$	14,689

Summary of net sales and earnings before income taxes

The following table summarizes the net sales and earnings before income taxes of Valpey-Fisher that is included in CTS’ Condensed Consolidated Statements of Earnings since the acquisition date, January 23, 2012, which is included in the consolidated statement of earnings for the three and nine months ended September 30, 2012:

	Three Months Ended		Nine Months Ended
($ in thousands)	September 30, 2012		September 30, 2012
Net Sales	$	3,759	$	10,705
Earnings before income taxes	$	429	$	318

Summary of pro-forma net sales and earnings before income taxes

The following table summarizes the combined net sales and earnings before income taxes of CTS and Valpey-Fisher on a pro forma basis as if the acquisition date had occurred at the beginning of the reporting period:

	Three Months Ended				Nine Months Ended
($ in thousands)	September 30, 2012 (Proforma)		October 2, 2011 (Proforma)		September 30, 2012 (Proforma)		October 2, 2011 (Proforma)
Net Sales	$	137,357	$	150,137	$	439,736	$	455,979
Earnings before income taxes	$	7,419	$	7,675	$	14,223	$	19,456