APH - MTS Systems reports FQ4 beats ahead of acquisition by Amphenol

MTS Systems (MTSC) shares gain 1.3% pre-market after fiscal Q4 beats with revenue down 4% Y/Y to $215.05. Earlier this month, Amphenol (APH) announced it would acquire for MTS for about $1.7B. The deal is expected to close in the middle of next year.MTS attributed its Q4 revenue decline to pandemic-related softness in Test & Simulation and Sensors.Net loss totaled $280.7M vs. the $4.8M in net income last year.Gross margin was flat on the year at 34.9%. Operating margin was negative 132% vs. the positive 6.5% last year.Adjusted EBITDA increased 6% Y/Y to $31.3M.The company ended the fiscal year with $88.9M in cash and equivalents and $584.6M total debt.Press release. Previously: MTS Systems EPS beats by $0.67, beats on revenue (Dec. 15 2020)

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MTS Systems reports FQ4 beats ahead of acquisition by Amphenol