COSTA MESA, CA – TTM Technologies reported fiscal first quarter net sales of $620.2 million, down 6.5% year-over-year and 12.8% sequentially.

For the quarter ended Apr. 1, GAAP net loss was $3.3 million, compared to GAAP net income of $10.1 million in the fiscal first quarter of 2018 and $52.5 million in the prior quarter.

GAAP operating income was $17.5 million, down 41.7% year-over-year and 59.1% sequentially.

Cash flow from operations was $36.9 million.

“For the first quarter, TTM generated good cash flow and delivered earnings within the previously guided range, despite weakness in some of our commercial end markets,” said CEO Tom Edman. “We were pleased to see solid year-over-year growth from the aerospace and defense end market that partially offset weakness in our cellular and automotive end markets. We expect softness in the commercial markets to continue in the second quarter and plan to address this challenge with the same discipline we have demonstrated in the past. At the same time, we will continue to be focused on cash flow generation and our strategic goals of diversification and differentiation.”

For the fiscal second quarter, TTM estimates revenue in the range of $610 million to $650 million.

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