SANTA ANA, CA – TTM Technologies reported fourth-quarter net sales totaled $149.9 million, up almost 8% sequentially and down 9% year-over-year.

For the period ended Dec. 31, net income was $2.8 million, reversing a third-quarter net loss of $4.9 million and last year’s loss of $69.2 million. Gross margin was 18.5%, up 1.1 points from the September period.

TTM recorded $17.1 million and $6.1 million in charges related to previously announced plant closures and the Meadville Holdings transaction in the third and fourth quarters, respectively.  

"We are pleased about the renewed strength in our commercial end markets, which led to a significant increase in revenue over the third quarter," said Kent Alder, president and CEO of TTM. "The increase in demand that we experienced in the fourth quarter was broad-based and marks our first quarter of sequential revenue growth since the first quarter of 2008."

The company’s PCB manufacturing segment reported net sales of $128.2 million, compared with $123.2 million in the third quarter. Operating income was $5.7 million, versus a loss of $1.9 million in the third quarter.

Backplane Assembly net sales were $29.3 million, compared with $24 million in the third quarter. Operating income was $2.4 million, versus a $2.6 million third-quarter loss. 

For the year, net sales fell 14.5% to $582.5 million. Net income rose to $5.2 million from a net loss of $36.9 million,

For the first quarter 2010, TTM estimates revenue in a range from $132 million to $140 million.

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