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Stock Market & Financial Investment News

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.
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May 20, 2015
09:14 EDTTTMITTM Technologies' Viasystems acquisition cleared by FTC
The investigation of TTM Technologies' (TTMI) proposed acquisition of Viasystems (VIAS) by the Federal Trade Commission has been closed and the parties are free to complete the transaction. TTM intends to close the transaction on or about May 31.

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