TTM Technologies Q1 2020 Earnings Report
Key Takeaways
TTM Technologies reported GAAP net sales of $497.6 million and a GAAP net loss of $3.2 million, or ($0.03) per diluted share for the first quarter of fiscal 2020. Non-GAAP net sales were $610.8 million, and non-GAAP net income was $19.6 million, or $0.18 per diluted share.
GAAP net sales were $497.6 million.
Non-GAAP net sales were $610.8 million.
GAAP net loss was $3.2 million, or ($0.03) per diluted share.
Non-GAAP net income was $19.6 million, or $0.18 per diluted share, inclusive of $1.9 million in foreign exchange gains.
TTM Technologies
TTM Technologies
Forward Guidance
TTM estimates that revenue for the second quarter of 2020 will be in the range of $520 million to $560 million, and non-GAAP net income will be in the range of $0.11 to $0.17 per diluted share, which includes the financial impact of the Mobility business unit until it was sold on April 17th.
Challenges Ahead
- COVID-19 may cause end demand weakness
- COVID-19 may cause supply chain disruptions
- COVID-19 may cause inefficiencies with our own production