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TTM Technologies Slips To Loss In Q3, But Results Top Estimates; Stock Up 9%
(RTTNews) - TTM Technologies, Inc. (TTMI) reported Wednesday a net loss for the third quarter of $37.1 million or $0.36 per share, compared to net income of $43.5 million or $0.42 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $0.43 per share, compared to $0.56 per share in the year-ago quarter.
Net sales for the quarter declined to $572.6 million from $671.1 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 $570.63 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the fourth quarter, the company projects adjusted earnings in a range of $0.34 to $0.40 per share on revenues between $550 million and $590 million. The Street is looking for earnings of $0.30 per share on revenues of $584.17 million for the quarter.
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