TTM Technologies Q1 Results Top Estimates; Guides Q2 In Line With View

(RTTNews) - TTM Technologies, Inc. (TTMI) reported Wednesday a net income for the first quarter of $10.47 million or $0.10 per share, compared to a net loss of $5.81 million or $0.06 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $0.31 per share, compared to $0.18 per share in the year-ago quarter.

Total net sales for the quarter grew to $570.11 million from $544.44 million in the same quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share on revenues of $551.76 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the second quarter, the company projects adjusted earnings in a range of $0.32 to $0.38 per share on revenues between $560 million and $600 million. The Street is looking for earnings of $0.35 per share on revenues of $576.43 million for the quarter.

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