COSTA MESA, CA – TTM Technologies expects fourth quarter revenues between $705 million and $715 million on slower demand for cars and phones.
The PCB fabricator previously guided for revenues between $720 million and $760 million.
“In the fourth quarter, TTM saw year-on-year declines in the cellular and automotive end-markets, partially offset by growth in the aerospace and defense and computing end-markets that will result in revenues below our previous guidance,” said Tom Edman, CEO of TTM. “However, strong operational and expense management is expected to result in profits better than previously forecasted. In addition, we were able to repay $30 million of our Term Loan B in December, bringing total debt repayments to $114 million since the close of our acquisition of Anaren on Apr. 18, 2018.”