MTS Systems Down 3.5%

MTS Systems is down 3.5% after the company said it has initiated an internal investigation into apparent violations of the company’s code of conduct involving certain employees in its China operations and the investigation will delay issuance of its Q4 and full year earnings and the filing of the company’s Annual Report for FY16.

Preliminary FY16 sales are seen between $645 million to $650 million, up from previously issued guidance of $630 million to $640 million and above the CapIQ mean for $635.44 million. Preliminary GAAP EPS are seen between $1.65 to $1.70, up from the previously issued guidance of $1.35 to $1.50 and above expectations for $1.42.