WASHINGTON (dpa-AFX) - TTM Technologies, Inc. (TTMI) reported Wednesday that net income for the fourth quarter surged to $17.34 million or $0.17 per share from $6.02 million or $0.06 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $0.41 per share, compared to $0.41 per share in the year-ago quarter.
Total net sales for the quarter declined to $569.04 million from $617.16 million in the same quarter last year.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share on revenues of $572.03 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the first quarter of fiscal 2024, the company projects adjusted earnings in a range of $0.24 to $0.30 per share on revenues between $530 million and $570 million. The Street is looking for earnings of $0.27 per share on revenues of $555.59 million for the quarter.
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