COSTA MESA, CA -- TTM Technologies reported second quarter net sales of $601.8 million, up from $445.4 million a year ago, boosted by its May 2015 acquisition of Viasystems.

For the period ended June 27, GAAP net income was $18.5 million, versus a net loss of $36.6 million last year.

GAAP operating income was $34.7 million, compared to an operating loss of $7.1 million in 2015 and operating income of $18.9 million in the first quarter.

Adjusted EBITDA was $90.2 million, or 15% of net sales, versus $59.7 million (13.4% of net sales) in the second quarter 2015 and $74.5 million (12.8%) in the first quarter 2016.

“Our second quarter results reflect continued year on year improvements in revenue and earnings as sales to our customer base in diversified end markets have dampened historical volatility,” said Tom Edman, CEO of TTM. “Strong operational execution across all of our business units drove non-GAAP earnings well above the high end of our guidance. A rebound in the cellular and communications end markets more than offset modest declines in the automotive and computing end markets, and our aerospace and defense end market hit a quarterly record in revenues.”

TTM guided for third quarter revenue of $620 million to $660 million.


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