Shareholders' Equity

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Shareholders' Equity

NOTE 11 – Shareholders’ Equity

Share count and par value data related to shareholders’ equity are as follows:

	As of
	September 28, 2014		December 31, 2013
Preferred Stock
Par value per share	$	No par value	$	No par value
Shares authorized		25,000,000		25,000,000
Shares outstanding		—		—
Common Stock
Par value per share	$	No par value	$	No par value
Shares authorized		75,000,000		75,000,000
Shares issued		56,082,249		55,808,008
Shares outstanding		33,544,723		33,558,864
Treasury stock
Shares held		22,537,526		22,249,144

During the nine month period ended September 28, 2014, CTS purchased 288,382 shares of common stock for $5,084,000 under a board-authorized share repurchase plan. For the nine month period ended September 29, 2013, CTS purchased 199,969 shares of common stock for $2,224,000.

A roll forward of common shares outstanding is as follows:

	Nine Months Ended
	September 28, 2014			September 29, 2013
Balance at the beginning of the year		33,558,864			33,433,128
Repurchases		(288,382	)		(199,969	)
Stock option issuances		101,350			226,449
Restricted share issuances		172,891			203,704
Restricted share forfeitures		—			—
Shares withheld for tax obligations		—			—
Balance at the end of the period		33,544,723			33,663,312

The following table shows the potentially dilutive securities which have been excluded from the dilutive earnings per share calculation because they are either anti-dilutive, or the exercise price exceeds the average market price.

	Three Months Ended				Nine Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29 , 2013
Potentially dilutive securities		—		25		—		634