Up next, we have CTS Corp, trading on the NYSE under symbol CTS. On behalf of the company, we have Kieran O'Sullivan, Chief Executive Officer. Good morning. CTS, just in case you didn't know, we've been around 130 years. We've been doing something right over those years. People who know us for a long time think of us as an automotive company, and that was probably more accurate 10 years ago. Today, our automotive business is probably about 40%. It used to be about 70%. It's transitioned because we have a strategy focused on diversification, growing our medical, industrial, aerospace, and defense businesses as well. We have a strong balance sheet. We're focused on organic growth and acquisitions. I'll give you a good flavor for the company and happy to take any questions at the end, too. You can see the safe harbor statement. This is just our financials in the last 12 months. You can see our largest market is in North America and most of the business in Asia that we do, we get a lot of questions on that is for Asia. We have two factories in China for China. You can see Europe has grown over the last number of years as well. We're targeting a 10% growth rate. We haven't always hit that. We've averaged mid-single digits. I'll take you through some more details on that. Our EBITDA margin has improved over the last 10 years. It was closer to the 10%. Today, we're closer to 23%. You can see our EPS here as well. I'll give you some color around our guidance that we gave in the end of the Q1 as well. Here, we're targeting 10% growth. We're targeting 5% organic and 5% through acquisitions. Our products are highly engineered, custom-engineered, highly technical products, for the different end markets that we serve. We follow the mega trends of automation, medical innovation and sustainability too. Strong balance sheet. We've done a number of acquisitions over the years, mostly in industrial, some in aerospace and defense. Very little in the automotive side. We've done some targeted small technologies in that space as we work towards electrification as well. As I said, a strong balance sheet. We're under-levered at this stage. We will do acquisitions, but most likely they're going to be in industrial or medical and maybe some more at a later stage in aerospace and defense. Strong regional capabilities in all regions of the world. Factories, as I mentioned, in China, Taiwan, Denmark, Czech Republic, Poland, USA, and three factories in Mexico as well. One of the things we do monitor very carefully is USMCA, which is coming up for renegotiation. That's something we keep a close eye on, with how things are these days, it's hard to track how things are going to turn out, as you know. A good, solid management team, leadership team. Good record of execution. You'll see that even in our margin profile. Our gross margins a few years ago were closer to 30%. We've brought them up closer to 37%. Last quarter, we were 39%. The focus on the quality of the earnings of the company is something we take very seriously. You can see here the different mega trends in terms of automation. As an example, safety critical products and harsh environment products are what we do in transportation. We're more on the passive safety side of things that we do. Underwater autonomous applications. We support the U.S. Navy and some of the major Tier 1s in defense. Healthcare innovation. We're much focused on minimally invasive applications. We do a lot of work in terms of diagnostic. Customers would be GE, Philips, Siemens, Samsung, Mindray, as an example. We do intravascular medical ultrasound, you can think about that in terms of going into the arteries, measuring the buildup of plaque for our technology. More recently, in the last two or three years, you'll see us grown significantly in medical therapeutics. Skin tightening. It's amazing, but it's something that's taken on a lot more interest, a lot more growth in that area. I think we're more concerned about how we look on all these Zoom and Teams calls now and everything else. Our technology goes deep into the skin with our customer. One of the largest customers we have here is Merz Therapeutics out of Europe. You get a treatment, it tightens the skin approximately maybe for about a year, then you got to get the treatment again. On sustainability, really electrification, what we're doing with eBrake product as the car becomes more electronic and software defined, and reducing harmful emissions. One of our largest customers here would be Cummins and their large engines. We make the brushless DC motors to power up their turbos as well. This just gives you a flavor of some of the mega trends that we focus on and some of the products in that area as well. This gives you a look at the products, if you look at this, you're going to say, "Wow, it's pretty complex." Let me simplify it for you. There's two main themes here in terms of how we bring value for our customers. One is in transportation and in sensing. We package position sensing in safety critical and harsh environments. The rest of it at the top, you'll see advanced ceramics. We're one of the only companies in the world that has all three technologies. We do bulk processing foundry, we do tape casting, and we do single crystal, which is more akin to semiconductor manufacturing. By having these three technologies, we can also take combinations of these to give different performance levels at different price points as well. Again, want to emphasize one of the few companies in the world with all three technologies. Back to the value creation, it's not IP, it's the quality of our material formulations and our proprietary processes that we have within the company and across our facilities as well. I just mentioned at the start, if you go back several years, we were primarily an automotive company. Today, you can see that we've been diversifying and growing our medical, industrial, and aerospace and defense. That's where we're deploying most of our capital investment as a company. We get a higher quality of earnings in these areas, and our products are stickier, longer life. We work very closely with our customers, not just on products that we're building today, but products for 2030 and beyond as well, in terms of the medical innovation, as an example, and things we're doing in defense as well. Just to give you some examples here in the industrial market, and by the way, for those of you who know us, you would have seen we had a big uptick in revenue in 2022 in industrial. Everybody was overbuying, and we had 18 months of a trough. For the last several quarters, we're back to solid growth here. We talked about it in our Q1 earnings call, and we're feeling very good about how that sector is performing for the company. You can see the market size, about $3.6 billion, revenue about $145 million, up 14% year-over-year. Some of the applications here, industrial printing is a large play for us globally, micro-positioning, heat pumps, HVAC, temperature sensing. Why do we do temperature sensing? Because we make the piezo material that goes into these thermistors, it was an easy move for us to move in that direction as well. Moving to medical, as I mentioned, minimally invasive. That's the space we play in. Medical ultrasound, if you go in to have an ultrasound, the probe that goes on your body is our material transmitting the data and the image. Siemens, GE, Philips, Samsung, Mindray are just some of the customers. Intravascular and intravenous, getting into the body for specific applications. Medical therapeutics, in terms of skin tightening, skin healing, that's been a real big growth area for us in the last two to three years as well. We do some other things like wireless pacemakers and some other technologies in this area, but not as large a scale. Into aerospace and defense. The TAM here is about $1.5 billion, revenue about $84 million, growth about 15%. We've been not just making the piezo parts, but up integrating into sensors and transducers. To give you a sense of the products we make here, we're a big supplier to the Navy. We do forward-looking arrays, towed arrays, hydrophones, unmanned applications, and getting into RF anti-jamming with different customers as well. That's a growing space for us in the last number of years. You'll notice in the last quarter, the book-to-bill was a little down here. In the last two, medical and industrial, the book-to-bill was 1.2, 1.3 level, so very strong. This tends to be a little bit lumpy. What we've seen this year, and through the end of last year, is just the government funding, especially on the new programs, has been a little bit slow coming through the pipeline. We still have a big backlog of activity that we're quoting. We expect this to get back into a very healthy situation as we go forward as well. On the transportation side, the one thing on light vehicle, we're powertrain agnostic. We've been broadcasting that for five, six years. Our sensors are in the passive safety. We're in the accelerator modules. We were not in braking, but now we're moving into braking because braking is going from a dumb application with hydraulic fluid and pumps to electronic. Once it goes electronic, it builds into our competencies in this area. We've also expanded into current sensing, accelerometers. You will have seen over the last year or two that our revenue came down here and more recently has stabilized and returned to growth. Two things happened there that impacted us. One was our Japanese customers, Toyota, Honda, Nissan. They lost market share in China to the local Chinese OEMs, and they weren't alone in that. It happened to everybody over there. We took a hit, and that's actually stabilized now and has bottomed out. That was one thing. Then on the heavy-duty trucks, we're a big supplier to Cummins. We've got a long relationship. We've contracts going out multi-years going forward. Coming through COVID, they decided they needed to bring on a second source because they were sourced 100% with us. That was the time when it was hard to get semiconductors and different things. We never shut down their plant, but I think we got tight enough, often enough to make them think, "Yeah, should have a second source there." We've good relationships and good growth here as well. The other thing I wanted to mention here is we've added some new products. I mentioned eBrake, current sensing, Drive Pad. If you think of the accelerator in the car, it's raised. It's either hinged or hanging. We've got a new technology that goes flush with the footwell, which from a crash test capability, it gives some nice features for the OEMs as we go forward. This won't be a product before 2030, but it's out there getting tested and built into test vehicles at this stage as we move along with it. it. Capital allocation, you can see here from a leverage perspective, we'd go as high as 2.5. We're less than one at the moment. We'd like to do larger acquisitions. We've typically done acquisitions in the range of $10 million-$20 million, $30 million. We'd like to be doing acquisitions with revenue in the $50 million-$80 million. We've got the capability to do much more than that. They're the right size for us to be biting off and integrating. Again, I want to emphasize much more into medical, industrial, aerospace, and defense is where we're focusing that capital allocation. You can see CapEx 4%, acquisition 60%-80%. We've returned about $300 million odd to investors over the last number of years as well. M&A is the priority here. Dividend, we have a dividend, but we don't do much with the dividend. Then from an M&A approach, you can see here what we focus on in terms of enhancing the technology, the products, the customer base, the regional profile. Even though that regional profile has adjusted, don't expect us to be doing acquisitions in China, in that part of the world. Certainly in North America is the number one focus, and we are interested in certain things in Europe. The big focus, again, is advancing our diversification through organic growth, also through acquisitions. From an ROIC perspective, we look to make it accretive to our cost of capital within a three-year period. Maybe if it's a bit more strategic and we got longer tenure, we might go to five years on that. We're very disciplined on our acquisitions. Sometimes we're accused of being too disciplined and too conservative. We've got to buy at multiples that make sense to us that we can make value for our investors. That's how we look at it in terms of discipline. We'd like it to be accretive within a year, and we like to keep a healthy balance sheet to pay down the debt as quickly as possible. Finally, just getting to the end of the presentation here. You can see here our revenue guidance and EPS. At the end of the Q1, we did raise the lower end of the guidance up to $560-$580, and the EPS up from $2.30-$2.45. We had a strong Q1, and our message in the earnings call was we feel good about the Q2. We've no reason to feel bad about the second half of the year, but we're concerned about the second half of the year. When you look at the geopolitical, you look at consumer confidence, you look at inflation, it's just something to be concerned about. Again, we're not seeing anything that's concerning us, but that's something that we keep in mind as we move forward as well. Finally, getting into our last two slides, the financial framework. You can see here the revenue, what we're targeting, and really want to get closer to that 10%. The gross margin, there's been really good progress there over the years. What we tend to do is, you see us here, before this, if you're looking this a year ago, it would have been 35%-37%. Now we're 37%-40%. Our last quarter, we reported 39% gross margin. Really disciplined about how we drive the company. You can see our R&D range here, and we'd like to get, as we grow the company, to get some scale on the SG&A as well. Finally, I just left Chicago yesterday. On Sunday, we had our global leadership event. This is where we bring our top 50 people from around the world in, usually every two years, and we work for a few days, not just on the strategy, but on the initiatives and the execution part of the strategy. It's got three pillars. The biggest pillar, the most important pillar is growth for us. We're good at managing businesses. We're good at executing and managing the financial profile. We're good at building the backlog, but we need to build a stronger backlog of business. Even though when you look at us, our diversified markets have been growing double digits now for a few quarters, and that's the momentum we want to maintain. We'd like to see auto be, given the current market, anything above flat is good. If we could get it to mid-single digits, we'd be very pleased with that level. On our diversified markets, we're looking for double-digit growth and more as we go forward. Growth is it, organic and through acquisitions. Operational excellence, making sure that DNA that we have across our organization, across all our factories and product development areas stays in place. In the office and in the factory, we like to be meeting face-to-face. We're an engineering company. We're a manufacturing company. You have to be together. That's how you get the synergies out of what we do in terms of product development and efficiency in our factories. Finally, to our people, making sure we have the right talent and the right roles, developing our people, but having people that fit into the culture that we have, which is continuous improvement, results driven, collaboration, innovation. That's how we describe ourselves. With that, I think that's my last slide. I'm going to pause there and open it up for any questions, please. Do you have any customers that are over 10%? I'm just going to repeat the question because it's been broadcast. The question was, do we have any customers over 10%? We did have a few years ago, but not today. They were mostly on the transportation side. I wonder how far the concentration is. The top 5 concentration percent, probably you are getting one at 8% or 9%, you have one at 5%, and then it is all getting smaller from there. That was a very different profile five years ago. You would have had 20% plus, maybe 25% in the top 2 or top 3. Yes. It seems like you might mention more the medical, but is there more direct humanoid exposure? Obviously, some of your stuff must go into automation. Just curious on that. The question for the broadcast is humanoid exposure and automation. We are not today in that humanoid area. As we look at acquisitions and some of the complementary things that we see that we have, we would potentially move in that direction going forward, but nothing to report today. Could you elaborate on current capacity trends? The question's on current capacity trends. We've got quite a few factories and lots of capacity. I won't say lots, but adequate capacity to expand. If revenue went up $100 million, I'm not thinking that we need to add capacity. I'm just curious about the medical skin healing and skin tightening markets, and I'm familiar with BOTOX. Yes. Could you just go into a little more detail as to what sort of growth that's seen? The question is on our medical therapeutics and the growth we've seen there. We've seen pretty significant growth. Our customer probably has been growing in the range of 30%-40%, we've seen that similar type of growth with them. We've put in more capacity in our factory in Denmark for this, it ships to all regions of the world. They've been expanding their marketplace. The application we're in, once it's used a few times, it's disposed of, repeat, the part has to be shipped again, so consumable part. It's, quite frankly, just grown at a tremendous rate. The other applications out there are BOTOX, their view is it's a better application, longer term. The light application seems to be better. It gets much deeper into the skin layers, does the tightening much more naturally through ultrasonic waves.