Why TTM Technologies Stock Is Crumbling Today
Shares of TTM Technologies (NASDAQ: TTMI) tumbled as much as 17.4% lower on Thursday, following the company's fourth-quarter earnings report. The stock had recovered somewhat by 2:40 p.m. ET, showing a smaller single-day drop of 13.9%.
TTM's fourth-quarter sales rose 3.2% year over year to $617 million. Adjusted earnings jumped from $0.34 to $0.41 per diluted share over the same period.
That's a mixed bag, compared to Wall Street's expectations. The average analyst was looking for earnings near $0.38 per share on top-line revenue in the neighborhood of $659 million. The midpoint of TTM's guidance for this period pointed to earnings of $0.39 per share and sales of approximately $650 million.
Source Fool.com
