News about TTM Technologies

TTM Technologies (TTMI) beat Wall Street expectations in its Q3 report, with sales up 59% year over year to $1.20 billion and adjusted earnings per diluted share rising from $0.67 to $1.46. The company also guided full-year sales and earnings above current analyst projections, though Q4 revenue guidance came in slightly below the Street view. The stock still plunged nearly 30% on the day after the data center and networking division missed its Q3 target by about 10%. CEO Edwin Roks blamed project timing at a major customer and acknowledged that wait times for key materials stretch from 12 to 24 weeks. Debt from the Epiq and Ophir acquisitions is expected to add about $20 million in interest expenses per quarter.