CTS Corp Form 8-K Summary
Business Context and Reporting Period
CTS Corporation filed a Current Report on Form 8-K on August 8, 2016. The filing addresses a non-material adjustment to a table regarding remaining intangible asset amortization expense previously disclosed in the Form 10-Q filed on July 29, 2016.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. It solely provides a corrected schedule of future amortization expenses for intangible assets.
| Year | Amortization Expense ($) |
|---|---|
| 2016 | 3,133 |
| 2017 | 6,081 |
| 2018 | 5,961 |
| 2019 | 5,952 |
| 2020 | 5,952 |
| Thereafter | 40,488 |
| Total | 67,567 |
Material Changes
The adjustment is classified as non-material. The filing explicitly states that this correction had no impact on the financial statements as reported in the prior Form 10-Q, nor did it affect any other items within that report.
Guidance, Outlook, and Risks
The filing contains no new guidance, outlook, management commentary, or risk factors. It is strictly a corrective disclosure for a specific data table.
Investor Verification Points
- Verify the corrected amortization schedule against the original Form 10-Q filed on July 29, 2016.
- Confirm that the total amortization expense is now reported as $67,567.
- Note that no restatement of financial results is required as the impact was deemed non-material.