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TTM Technologies, Inc. reported that fourth quarter revenues are expected to be in the range of $705 million to $715 million compared to previous guidance of $720 million to $760 million, and that non-GAAP net income attributable to shareholders is expected to be between $0.46 and $0.50 per diluted share as compared to previous guidance of $0.44 to $0.50 per diluted share.
“In the fourth quarter, TTM saw year on year declines in the cellular and automotive end markets partially offset by growth in the aerospace and defense and computing end markets that will result in revenues below our previous guidance,” said Tom Edman, CEO of TTM. “However, strong operational and expense management is expected to result in profits better than previously forecasted. In addition, we were able to repay $30 million of our Term Loan B in December, bringing total debt repayments to $114 million since the close of our acquisition of Anaren on April 18th, 2018.”
TTM will release its fourth quarter 2018 financial results and outlook for the first quarter of 2019 after the market closes on Wednesday, February 6th, 2019 and host a conference call at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss its fourth quarter 2018 performance.
Management from TTM will also be presenting at the Needham Growth Conference at the Lotte Palace Hotel in New York, tomorrow, January 15th at 4:50pm ET.
TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions as well as a global designer and manufacturer of RF and microwave components and assemblies. TTM stands for time-to-market, representing how TTM's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.