TTM Technologies Q2 Profit Edges Down

(RTTNews) - TTM Technologies Inc. (TTMI) reported that its net income for the second quarter of 2022 was $27.8 million or $0.27 per share, compared to $28.3 million or $0.26 per share in the second quarter of 2021.

On a non-GAAP basis, net income for the second quarter was $55.3 million or $0.54 per share compared to non-GAAP net income of $40.0 million or $0.36 per share, in the prior year.

Net sales for the second quarter of 2022 were $625.6 million, compared to $567.4 million in the second quarter of 2021.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share and revenues of $600.38 million for the second quarter. Analysts' estimates typically exclude special items.

TTM estimates that revenue for the third quarter of 2022 will be in the range of $655 million to $695 million, and non-GAAP net income will be in the range of $0.41 to $0.47 per share. Analysts expect the company to report earnings of $0.35 per share and revenues of $620.39 million for the quarter