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News Breaks
March 1, 2013
15:28 EDTTTMITTM Technologies discloses adjustments, cuts Q4 non-GAAP EPS to 23c from 26c
TTM Technologies disclosed in a regulatory filing that subsequent to filing its 8-K with the SEC on February 5, the company was notified by a customer of a warranty claim for defective products. The company estimates a potential liability of approximately $650,000 for this claim. The warranty claim resulted in an approximate $650,000 decrease in the company’s Q4 net sales. Net sales are $381.7M for Q4, compared to $382.4M as previously reported. In addition, the company increased the valuation allowance on the deferred tax assets of one of its China-based subsidiaries by approximately $1.6M. The increase in the valuation allowance on the deferred tax assets and the tax impact of the warranty claim resulted in a net increase of $1.3M in the company’s tax provision for Q4. On a non-GAAP basis, the net impact of the above adjustments is a decrease to net income attributable to stockholders for Q4 to $18.6M, or 23c per diluted share, compared to $21.5M, or 26c per diluted share, as previously reported.
News For TTMI From The Last 14 Days
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September 23, 2014
07:23 EDTTTMITTM Technologies proposed acquisition positive, says Stifel
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September 22, 2014
09:15 EDTTTMIOn The Fly: Pre-market Movers
HIGHER: Sigma-Aldrich (SIAL), up 34% after Merck KGaA (MKGAY) to acquire the company for $17B... Viasystems (VIAS), up 44% after TTM Technologies (TTMI) acquires the company for $16.46 per share in cash and stock. TTM is up 15.5% after the deal... Clorox (CLX), up 5.4% after the New York Post said the company turned down offer to sell or merge with rival... EMC (EMC), up 2.5% after The Wall Street Journal said the company is considering options that could include merging with a rival and held on-and-off merger talks with Hewlett-Packard (HPQ) for almost a year, though the Journal added that those talks recently ended... Epiq Systems (EPIQ), up 9.9% after P2 Capital confirms 16.9% stake in Epiq and that the company turned down the shareholders' $20 per share takeover offer... Dresser-Rand (DRC), up 2.7% after the company sells to Siemens (SIEGY) for $83 per share or $7.6B... TAT Technologies (TATT), up 6.6% after a division of the company signed a maintenance agreement with Republic Airways (RJET). LOWER: Yahoo (YHOO), down 2.1% after stock was downgraded at Bank of America Merrill Lynch and at Bernstein... InvenSense (INVN), down 2.9% after downgraded at RW Baird... Threshold Pharmaceuticals (THLD), down 5.6% after TH-302 Phase 3 trial events to occur later than expected.
07:50 EDTTTMITTM Technologies & Viasystems host a joint conference call
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07:32 EDTTTMITTM Technologies to acquire Viasystems for cash, stock
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07:31 EDTTTMITTM Technologies to acquire Viasystems for cash, stock
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07:16 EDTTTMITTM Technologies to buy Viasystems for over $250M, WSJ reports
According to a sources, TTM Technologies (TTMI) will acquire Viasystems (VIAS) for over $250M in cash and stock, the Wall Street Journal reports. A deal could be announced as early as today. Reference Link

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