TTM: 1Q Earnings Snapshot
SANTA ANA, Calif. (AP) _ TTM Technologies Inc. (TTMI) on Wednesday reported a loss of $1.2 million in its first quarter.
On a per-share basis, the Santa Ana, California-based company said it had a loss of 1 cent. Earnings, adjusted for one-time gains and costs, were 18 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The printed circuit board maker posted revenue of $497.6 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $574.1 million.
For the current quarter ending in July, TTM expects its per-share earnings to range from 11 cents to 17 cents.
The company said it expects revenue in the range of $520 million to $560 million for the fiscal second quarter.
TTM shares have dropped 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.57, a decline of 14% in the last 12 months.