Additionally, leading manufacturer of testing systems and sensor technologies, MTS Systems Corp. (MTSC, Financial) traded -12.51% lower on mixed quarterly earnings results. While revenue came in ahead driven by growth in the Test & Simulation and Sensors divisions and a new lucrative contract with the U.S. Department of Defense, profitability and EPS fell modestly below consensus. Nonetheless, MTSC ended Fiscal 2019 with momentum, highlighted by record year-end backlog. Looking ahead, we see MTSC as an opportunity to own a niche industry leader undergoing a favorable business mix shift that is well positioned to benefit from industrial innovation, automation, and safety.
From John Rogers (Trades, Portfolio)' Ariel Fund fourth-quarter 2019 commentary.
Also check out:
