TTM Technologies, Inc.(NASDAQ:TTMI) Falls After Lowering Q1 Guidance

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TTM Technologies, Inc.(NASDAQ:TTMI) is lower after the company said late Thursday that it expects Q1 revenue at the low end of its guidance range of $290 to $310 million, vs. the analyst consensus of $301 million on Capital IQ.

Shares are down 4.7% at $7.82, with a 52-week range of $6.53 – $10.91.

The provider of time-critical and technologically complex printed circuit board products and backplane assemblies noted that while operating performance was consistent with its guidance, it expects to incur an unrealized, non-cash foreign exchange loss of approximately $3.6 million, or $0.03 per diluted share, in the quarter due to the rapid depreciation of the Chinese RMB against the U.S. dollar.

As a result of the foreign exchange loss, the company expects non-GAAP earnings in the range of breakeven to $0.02 per diluted share, compared to its previous guidance of non-GAAP earnings in the range of $0.03 to $0.09 per diluted share. The projected result is below the Street consensus of $0.07 per share.

 

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