Shares of Santa Ana circuit board maker TTM Technologies Inc. soared some 30% in trading Wednesday after its earnings beat estimates.
The company posted net income of $8.5 million, a 3% drop from a year earlier.
Wall Street still was pleased. TTM’s profit beat analysts’ estimates of $6.3 million. Shares closed up nearly 30% to $11.85.
Sales grew 143% in the first quarter to $32.7 million. The revenue increase stemmed from TTM’s buy of a Tyco International Ltd. unit. Operations for the unit were included in the figures.
TTM paid $226 million in October for Tyco’s printed circuit board business.
