TTM Technologies Inc. (NASDAQ:TTMI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
TTM Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 43.48% to $0.13 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 8.29% to $325.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TTM Technologies Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.10. It beat the average revenue estimate of $320.45 million.
Quoting Management: “Our results for the first quarter for both Asia Pacific and North America were in line with our expectations,” said Kent Alder, CEO of TTM. “While we experienced normal seasonality during the quarter, we were pleased to realize a year-over-year increase in revenue due to increased sales in our cellular phone and networking end markets. We were also encouraged to see an improvement in the aerospace and defense end market both sequentially and year-over-year, despite current defense budget challenges.”
Key Stats (on next page)…
Revenue decreased 14.76% from $381.74 million in the previous quarter. EPS decreased 50% from $0.26 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.18 to a profit $0.14. For the current year, the average estimate has moved down from a profit of $0.81 to a profit of $0.72 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)