TTM Technologies (TTMI) Misses Q2 EPS by 4c, Miss on Revenues; Offers Soft 3Q EPS/Revenue Outlook

TTM Technologies (NASDAQ: TTMI) reported Q2 EPS of $0.31, $0.04 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $627.2 million versus the consensus estimate of $629.08 million.

Business Outlook

For the third quarter of 2017, TTM estimates that revenue will be in the range of $625 million to $675 million, and non-GAAP net income attributable to stockholders will be in the range of $0.29 to $0.35 per diluted share. “Our third quarter is being impacted by a slower start in the normal seasonal ramp of cellular products. We expect this ramp to accelerate in the coming quarters” concluded Tom Edman.

GUIDANCE:

TTM Technologies sees Q3 2017 EPS of $0.29-$0.35, versus the consensus of $0.43. TTM Technologies sees Q3 2017 revenue of $625-675 million, versus the consensus of $674.66 million.

Second Quarter 2017 Highlights

• Net sales were $627.2 million
• GAAP net income attributable to stockholders was $20.6 million, or $0.18 per diluted share
• Non-GAAP net income attributable to stockholders was $33.3 million, or $0.31 per diluted share
• Excluding a $6.5 million foreign exchange loss, non-GAAP earnings per diluted share would have been $0.36
• Adjusted EBITDA was $85.5 million

For earnings history and earnings-related data on TTM Technologies (TTMI) click here.

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