Printed circuit board maker TTM Technologies (Nasdaq: TTMI) today reported third-quarter revenue and earnings per share above analysts’ expectations.
The shares dropped 27% to $74.08 apiece for a market cap of $7.9 billion as investors faced the company’s rising debt and acquisition-related spending, industry website Seeking Alpha said.
Revenue surged 60% year-over-year to $1.2 billion, while the Santa Ana-based company expects this quarter’s revenue to be around $1.43 billion, close to analysts’ estimates. Its adjusted profit of $1.46 per share was 16% above analysts’ consensus estimates.
For more details, see the Oct. 26 edition of the Business Journal.
