COSTA MESA, CA – PCB manufacturer TTM Technologies reported second quarter net sales ended June 29 of $445.4 million, up 50% year-over-year and 35.3% sequentially.

The GAAP net loss was $36.6 million, compared to GAAP net loss of $3.1 million in the second quarter of 2014 and GAAP net income of $3.4 million in the first quarter of 2015. Results were impacted by approximately $46 million of expenses related to the acquisition of Viasystems, TTM says.

GAAP operating loss for the quarter was $7.1 million, compared to GAAP operating income of $3.2 million in the same period of 2014 and $8.3 million in the first quarter of 2015.

Results for the period reflect approximately one month of consolidated results from the acquisition of Viasystems Group, completed June 1.

"The second quarter results reflect the dramatic repositioning of the company as we successfully completed the Viasystems acquisition, which added $93 million of revenue in the quarter," said Tom Edman, CEO of TTM. "In addition, we delivered strong year-over-year organic revenue growth of 18%, driven by continued robust demand in the cellular phone and networking end markets."

For the third quarter of 2015, TTM estimates revenue in the range of $640 million to $680 million.

• Prev
• Next