MTS Recognized for Strong Dividend Performance in Kiplinger's Personal Finance
EDEN PRAIRIE, Minn., March 5, 2013 /PRNewswire/ -- MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and position sensors, today announced that it has been recognized in the April 2013 issue of Kiplinger's Personal Finance. In the article, MTS is one of six smaller-sized companies featured that "pay generous dividends and have bright prospects for shareholder appreciation."
The article compliments MTS for the geographical diversity of its business, with only one-third of revenue coming from the U.S. and nearly 40 percent of sales coming from fast-growing markets in Asia. MTS is also cited for being well positioned to succeed despite weak global growth, which has intensified competition and is forcing businesses to get better products to market more quickly, playing into the testing and sensing strengths of the company. Lastly, the article mentions the strong MTS balance sheet with its minimal debt, generous cash reserves and annual dividend rate that has tripled over the last six years.
"This story highlights the key priorities that MTS has worked so hard to accomplish from both a strategic and an operational perspective," said MTS Chief Financial Officer Susan Knight. "We are pleased the investment community is recognizing that we are a stable but growing company with the right offerings, strong geographical and market diversity, and a strong and consistent financial history, all of which positions us well to continue delivering very good returns to shareholders."
With its first issue published in 1947, Kiplinger's Personal Finance is the nation's first personal finance magazine, with a circulation of more than 631,000 as of June 2012.
"We see this article as validation that we are successfully aligning our core businesses with the macro-trends currently shaping the global economy," said Dr. Jeffrey Graves, MTS President and CEO. "From energy scarcity and environmental considerations to the steadily rising consumer class in emerging regions, MTS is playing a major role in addressing some of the foremost challenges of our time. The future looks promising for MTS and its investors."
Read the full article at Kiplinger's Personal Finance Web site.
About MTS Systems Corporation
MTS Systems Corporation is a leading global supplier of high-performance test systems and position sensors. The Company's testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS' high-performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 2,147 employees and revenue of $542 million for the fiscal year ended September 29, 2012. Additional information on MTS can be found on the worldwide web at http://www.mts.com.
This release contains "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements.
Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: government contracting; the Company's significant international business including but not limited to currency value fluctuations, difficulty enforcing agreements and collecting receivables, import and exporting matters, higher danger of terrorist activity, difficulty in staffing and compliance with laws; volatility in the global economy; competition; failure to achieve the Company's growth plans for the expansion of its business because the Company's long-term success depends on its ability to expand its business through new product development, mergers and acquisitions, geographic expansion and service offerings, all of which are subject to inherent risks including but not limited to market demand, market acceptance of products and our ability to advance our technology; difficulties obtaining the services of skilled employees; failure to protect its intellectual property effectively or infringement upon the intellectual property of others; product liability and commercial litigation; difficulty obtaining materials or components for its products; government regulation; the irregularity and development of sales, delivery and acceptance cycle for the Company's products; the Company's customers are in cyclical industries; interest rate fluctuations; the Company may be required to recognize impairment charges for long-lived assets; and cost, reputational and other risks associated with disclosing use of conflict minerals. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in the Company's most recent SEC Form 10-K, 10-Q and 8-K filings. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE MTS Systems Corporation