TTM Technologies (TTMI) Tops Q2 EPS by 11c, Revenues Miss; Offers 3Q Outlook

TTM Technologies (NASDAQ: TTMI) reported Q2 EPS of $0.48, $0.11 better than the analyst estimate of $0.37. Revenue for the quarter came in at $716.9 million versus the consensus estimate of $729.08 million.

Second Quarter 2018 Highlights

• Net sales were $716.9 million
• GAAP net income was $84.0 million, or $0.65 per diluted share
• Non-GAAP net income was $52.3 million, or $0.48 per diluted share
• Completed the acquisition of Anaren, Inc.
• Cash flow from operations of $55.6 million

“In the second quarter, TTM delivered strong results,” said Tom Edman, CEO of TTM. “We were pleased to see solid year over year growth from the aerospace and defense, automotive, computing and medical/industrial/instrumentation end markets that more than offset weakness in our cellular end market. Further, Anaren’s contribution in the quarter was better than forecasted. Longer term, Anaren’s deep RF expertise will strengthen TTM’s ability to engage with customers at the design stage in order to provide more value added solutions.”

Business Outlook For the third quarter of 2018 TTM estimates that revenue will be in the range of $730 million to $770 million, and non-GAAP net income will be in the range of $0.41 to $0.47 per diluted share.

GUIDANCE:

TTM Technologies sees Q3 2018 EPS of $0.41-$0.47. TTM Technologies sees Q3 2018 revenue of $730-770 million.

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

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