TTM Technologies, Inc. (NASDAQ:TTMI) Q1 2024 Earnings Call Transcript

Mike Crawford: Okay. Thank you. I’ll just end just with a kind of a minor question. But with the buyback, again, was active in Q1 and your relative reverse stock-based comp, I was a little surprised that you’re guiding to higher diluted share count in 2Q. Is that just being conservative or is there something else happening?

Daniel Boehle: Yeah, I would say, it’s a bit conservative with the shares that will be issued in Q2 that — from vesting of our stock plan. There will be some more buyback probably — that will likely bring that down a little bit more than the 105 million that we’ve got there. But that’s what we used for the guidance.

Operator: [Operator Instructions]. I am showing no further question in the queue at this time, I would like to turn the call back over to Mr. Tom Edman for closing remarks.

Thomas Edman: Thank you. Yeah. I’d just like to close by summarizing a few of the points that I made earlier. First, we delivered non-GAAP EPS above the high end of guided range. Revenues at the high end of the guided range with improved operational performance and favorable product mix on a year-on-year basis. Second, we generated a healthy cash flow from operations at 7.7% of revenues that did enable us to repurchase stock and maintain a solid balance sheet with a net EBITDA leverage of about 1.5x at the low end of our target range. And in closing, I would just like to thank our employees, our customers and you, our investors, for your continued support. Thank you very much.

Operator: This concludes today’s program. Thank you for participating disconnect.