TTM Technologies (TTMI) Boosts Prelim. Q1 EPS, Revenue Outlook

TTM Technologies (NASDAQ: TTMI) updated its first quarter 2015 guidance in conjunction with its ongoing financing activities related to its previously announced proposed acquisition of Viasystems Group, Inc. (Nasdaq: VIAS).

Based on preliminary, unaudited financial results, TTM now expects first quarter 2015 revenue to be approximately $329 million, compared to its previously announced range of $310 million to $330 million and revenue of $292 million in the first quarter of 2014. Non-GAAP net income in the first quarter of 2015 is expected to be approximately $0.13 per diluted share, compared to its previously announced range of $0.06 to $0.12 per diluted share and non-GAAP net income of $0.01 per diluted share in the first quarter of 2014. TTM expects adjusted EBITDA in the first quarter of 2015 to be approximately $42 million, compared to $29 million in the first quarter of 2014.

*** The Street sees Q1 revenue of $320.3 million and EPS of $0.09.

TTM's first quarter 2015 results are preliminary and are therefore subject to change until completion of TTM's customary quarterly closing and review procedures. TTM expects to report actual results on April 29, 2015.

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