TTM Technologies Cuts Q1 Outlook

(RTTNews) - Printed circuit board maker TTM Technologies, Inc. (TTMI) said it now expects first quarter revenue to be at the low end of its prior guidance range of $290 million to $310 million.

While operating performance was consistent with its guidance, the company expects to incur an unrealized, non-cash foreign exchange loss of about $3.6 million or $0.03 per 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 now expects first quarter adjusted earnings to be in the range of breakeven to $0.02 per share, compared to its prior guidance of $0.03 to $0.09 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $0.07 per share on revenue of $302.08 million for the first quarter. Analysts' estimates typically exclude special items.