Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

D&R acquisition [Member]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

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

	Fair Values
($ in thousands)	At December 21, 2012
Current assets	$	13,839
Property, plant and equipment		8,635
Goodwill		24,382
Amortizable intangible assets		20,900
In-process research and development		550
Other assets		678
Fair value of assets acquired		68,984
Less fair value of liabilities acquired		(5,484	)
Net cash paid	$	63,500

Summary of Net Sales and Earnings Before Income Taxes

The following table summarizes the net sales and earnings before income taxes of D&R that is included in CTS’ Consolidated Statements of Operations of continuing operations for the twelve months ended December 31, 2013 and December 31, 2012:

($ in thousands)	December 31, 2013		December 31, 2012
Net Sales	$	49,248	$	280
Earnings before income taxes	$	2,599	$	(1,168	)

Valpey-Fisher acquisition [Member]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

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

	Fair Values
($ in thousands)	At January 23, 2012
Current assets	$	9,530
Property, plant and equipment		6,231
Goodwill		7,665
Amortizable intangible assets		2,420
In-process research and development		400
Other assets		231
Fair value of assets acquired, including $3,578 cash acquired		26,477
Less fair value of liabilities acquired		(8,210	)
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’ Consolidated Statements of Operations since the acquisition date, January 23, 2012, which is included in the Consolidated Statement of Operations of continuing operations for the twelve months ended December 31, 2012:

($ in thousands)	December 31, 2013			December 31, 2012
Net Sales	$	16,980		$	15,191
Earnings before income taxes	$	(1,132	)	$	1,123

Valpey-Fisher acquisition [Member] | D&R acquisition [Member]

Summary of Pro-forma Net Sales and Earnings Before Income Taxes

The following table summarizes the combined net sales and earnings before income taxes from continuing operations of CTS, D&R and Valpey-Fisher on a pro forma basis as if the D&R and Valpey-Fisher acquisitions had occurred on January 1, 2011:

($ in thousands)	December 31, 2012 (Unaudited Proforma)		December 31, 2011 (Unaudited Proforma)
Net Sales	$	355,463	$	343,365
Earnings before income taxes	$	17,669	$	11,776