COSTA MESA, CA – TTM Technologies reported fiscal third quarter net sales of $666.8 million, up 3.9% year-over-year and 6.3% sequentially.
For the quarter ended Oct. 2, GAAP net income attributable to stockholders was $21.5 million, down 16% year-over-year and up 4.4% sequentially.
GAAP operating income was $44.1 million, a decrease of 12.2% compared to the fiscal third quarter of 2016 and 2.2% sequentially.
Adjusted EBITDA was $85.7 million, or 12.9% of net sales, compared to adjusted EBITDA of $102.2 million, or 15.9% of net sales, for the fiscal third quarter of 2016 and $85.5 million, or 13.6% of net sales, for the second quarter of 2017.
"TTM delivered the fourth consecutive quarter of year-on-year organic growth, with revenues and operating performance that exceeded our expectations," said Tom Edman, CEO of TTM. "On a year-over-year basis, the fastest growth in the third quarter came from the computing, automotive and aerospace and defense end markets. Absent a foreign exchange loss due to the weakening US dollar, non-GAAP EPS was above the high end of guidance."
For the fiscal fourth quarter, TTM estimates revenue in the range of $700 million to $750 million.