Ttm Technologies (TTMI) swung to a net loss for the quarter ended Jan. 02, 2017. The company has made a net loss of $2 million, or $ 0.02 a share in the quarter, against a net profit of $9.52 million, or $0.09 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $59.84 million, or $0.58 a share compared with $31.53 million or $0.31 a share, a year ago.

Revenue during the quarter grew 5.63 percent to $706.53 million from $668.87 million in the previous year period. Gross margin for the quarter expanded 262 basis points over the previous year period to 18.80 percent. Total expenses were 90.14 percent of quarterly revenues, down from 94.54 percent for the same period last year. This has led to an improvement of 439 basis points in operating margin to 9.86 percent.

Operating income for the quarter was $69.65 million, compared with $36.54 million in the previous year period.

However, the adjusted operating income for the quarter stood at $80.98 million compared to $53.41 million in the prior year period. At the same time, adjusted operating margin improved 348 basis points in the quarter to 11.46 percent from 7.98 percent in the last year period.

"Our fourth quarter revenues exceeded the high end of our guidance and our profitability was better than our forecast," said Tom Edman, chief executive officer of TTM. "On a year over year basis, most end markets grew, with the fastest growth coming from the cellular and automotive end markets. This drove substantial operating income leverage in the business resulting in the highest non-GAAP EPS in the history of the company."

For the first-quarter, Ttm Technologies forecasts revenue to be in the range of $595 million to $635 million. On an adjusted basis, the company expects diluted earnings per share to be in the range of $0.25 to $0.31.