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January 31, 2013
17:36 EDTSANM, TTMITTM Technologies announces management changes
TTM Technologies (TTMI) announced that Steven Richards, the company's Executive Vice President and CFO has resigned from the company to pursue other interests. Mr. Richards will remain with the company though March 29, 2013 in order to transition his duties to his successor. The company also announced that Todd Schull has been appointed Executive Vice President, effective February 20 and will assume the role of Executive Vice President and CFO of TTM Technologies effective March 2. Schull will report to Alder. Schull brings more than 30 years of financial management experience and electronics industry experience in the U.S., Europe and Asia to his new role. Most recently he served as Senior Vice President of Finance and Corporate Controller at Sanmina (SANM). Schull joins TTM Technologies from Sanmina Corporation, where he served as Senior Vice President of Finance and Corporate Controller.
News For TTMI;SANM From The Last 14 Days
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September 29, 2015
07:33 EDTTTMITTM Technologies backs Q3 EPS view of 14c-20c, consensus 17c
Backs Q3 revenue view $640M-$680M, consensus $661.74M. The company's consolidation actions will have no impact on TTM's non-GAAP third quarter 2015 results. Today's actions are expected to yield annual cost savings of approximately $16.5M and the company believes it remains on track to achieve its annualized synergy goal of at least $55M associated with the integration of Viasystems.
07:31 EDTTTMITTM Technologies announces consolidation of manufacturing operations
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September 25, 2015
12:39 EDTSANMElectronic contract manufacturers advance after Jabil reports earnings
Shares of contract electronic manufacturers Flextronics International (FLEX), Sanmina (SANM), and Celestica (CLS) are advancing after peer Jabil Circuit (JBL) posted quarterly earning last night that easily surpassed analysts' estimates. WHAT'S NEW: Jabil Circuit reported better-than-anticipated profit and revenue in the fourth quarter as revenue in its Diversified Manufacturing Services segment increased 47% on a year-over-year basis, and represented 41% of total company revenue. Jabil reported Q4 earnings per share of 53c on revenue of $4.68B against analysts' estimates of 45c and $4.55B. On the company's Q4 earnings conference call, Chief Executive Officer Mark Mondello said he anticipates continued growth across its DMS business, as the company "captures additional opportunities" in the markets that DMS serves. Mondello noted that those markets include audio, healthcare, consumer packaging, mobility, wearable technologies, and accessories. WHAT'S NOTABLE: Looking ahead, the company sees DMS in the first quarter up 33% year-over-year and guided to Q1 results that were far ahead of analysts' estimates. Jabil said it sees Q1 EPS of 72c-88c on revenue of $5.1B-$5.3B. Analysts were expecting EPS of 61c on revenue of $4.91B. Jabil also guided to fiscal year 2016 EPS of $2.60 ahead of expectations of $2.37. ANALYST TAKE: After Jabil reported higher than expected Q4 EPS, Stifel notes that the company's guidance for its November quarter was significantly above expectations. The firm thinks the company is benefiting from increased purchases of its diversified manufacturing products by Apple (AAPL). Stifel says that Apple is using Jabil's products for many of its products, not just iPhones, and it expects other customers to ramp up their purchases of the company's DMS products. Stifel kept a $25 price target and Buy rating on the shares. PRICE ACTION: Shares of Jabil Circuit are advancing almost 15% to $22.43 in midday trading. OTHERS TO WATCH: Shares of other contract manufacturers are also advancing, with Flextronics up 1.5%, Sanmina jumping 2.8%, and Celestica higher by 1.35%

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