TTM Technologies reports higher Q4 net income, provides outlook for Q1

TTM Technologies, Inc. has reported that net income attributable to the stockholders for the fourth quarter of 2012 was $15.74 million, or $0.19 per share, compared to $11.17 million, or $0.14 per share, for the same quarter of 2011. The company expects non-GAAP earnings attributable to the stockholders to be in the range of $0.07 to $0.12 per diluted share for the first quarter of 2013.

Net sales for the fourth quarter of 2012 were $382.39 million, compared to $361.46 million for the same quarter of 2011.

Net loss attributable to the stockholders for 2012 was $172.59 million, or $2.11 loss per diluted share, compared to a net income attributable to the stockholders of $41.87 million, or $0.51 per diluted share, for 2011. Net sales for 2012 were $1.35 billion, compared to $1.43 billion for 2011.

For the first quarter of 2013, the company expects revenue to be in the range of $310 million to $330 million and GAAP earnings attributable to the stockholders in a range from breakeven to $0.05 per diluted share.

"We were pleased to close 2012 with strong financial and operational performance in the fourth quarter," said Kent Alder, CEO of TTM. "We experienced broad-based demand for our advanced HDI PCBs across multiple end markets, particularly for smartphones and touchpad tablets. The product mix shift toward more advanced HDI PCBs drove higher gross margin and operating profit, resulting in stronger earnings for the quarter."