SANTA ANA, CA -- TTM Technologies today reported third quarter net sales of $556.8 million, up 8.4% from a year ago.

The previous year's sales do not include revenues from the Mobility business unit, which TTM subsequently sold.

GAAP net income was $21 million for the period ended Sept. 27, while non-GAAP net income was $36.5 million. That's versus a GAAP net loss of $61.5 million from continuing operations, and non-GAAP net income of $26.8 million a year ago.

GAAP operating income for the quarter was $32.2 million, up from a loss of $40.3 million, inclusive of a goodwill impairment charge of $69.2 million.

Adjusted EBITDA was $68.6 million, or 12.3% of net sales, versus $67.2 million, or 13.1% in the third quarter 2020.

“In the third quarter, TTM delivered revenue and non-GAAP earnings within the previously guided range despite labor and production inefficiencies in North America and tight supply conditions globally for certain raw materials," said Tom Edman, CEO, TTM. "Results were led by strong year on year growth from the automotive and data center computing end markets and strength from the medical, industrial and instrumentation end market.”

In the fourth quarter, further increases in labor and raw materials costs, along with potential power rationing in China, are expected to negatively affect profitability. As a result, TTM estimates that revenue for the fourth quarter of 2021 will be in the range of $530 million to $570 million.