COSTA MESA, CA -- TTM Technologies today reported first quarter net sales of $663.6 million, up 6% from a year ago.

GAAP net income was $10.1 million for the period ended Apr. 2, down 69% from 2017. Non-GAAP net income was $28 million, versus $39.2 million. GAAP operating income for the first quarter of 2018 was $30 million, down 43% year-over-year.

Adjusted EBITDA for the quarter was $83.2 million, versus $95.6 million last year.

After the first quarter closed, TTM completed its acquisition of Anaren; results from Anaren are not included.

“As anticipated, we faced seasonal challenges in our consumer-related cellular and computing markets in the first quarter resulting in expected short-term pressure on margins,” said Tom Edman, CEO, TTM. “We were pleased to see solid growth from the aerospace and defense and automotive end markets that more than offset weakness in our computing and networking markets. We also closed the acquisition of Anaren in the second quarter, which we expect will further increase our exposure to the growing aerospace and defense end market and strengthen our ability to deliver value added solutions to our customers across all of the markets we serve.”

For the second quarter 2018, including the expected contribution from the Anaren acquisition, TTM estimates revenue in the range of $700 million to $750 million.

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