COSTA MESA, CA -- TTM Technologies swung to a second-quarter loss on a 12% drop in sales. 

For the period ended June 30, the PCB manufacturer reported net sales of $297.6 million, down from $291.9 million sequentially and $338 million in the second quarter 2013.

The GAAP net loss for the quarter was $3.1 million, versus a GAAP net loss of $3.8 million in the first quarter and net income of $13.1 million in 2013.

GAAP operating income was $3.2 million, compared to $4.5 million in the first quarter and $28.3 million a year ago. The year-ago results included a gain of $17.9 million from TTM's sale of its equity interest in the SYE plant. Excluding this gain, operating income was $10.4 million.

"We generated sales and non-GAAP earnings in line with our expectations for the second quarter," said Tom Edman, CEO of TTM. "We are pleased with our strong performance in the networking/ communications and aerospace and defense end-markets. In most other end-markets, we experienced normal seasonality, with somewhat broader softness in computing."

"Based on our backlog and customer product ramps, we continue to expect our financial performance to be stronger in the second half . Accordingly, we expect robust sales growth for the third quarter with improved utilization levels in our advanced technology facilities," Edman said.

TTM guided for third-quarter revenue of $325 million to $355 million.

TTM is the world's ninth largest PCB fabricator according to the latest NTI-100 list, to be published Aug. 1 by PCD&F.

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