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TTM Technologies Reports Record Q3 Sales of $357.8M

Published: 05 November 2010
 by Staff

SANTA ANA, CA – PCB manufacturer TTM Technologies reported record third-quarter net sales of $357.8 million, up 15% sequentially.

Operating income increased 163% sequentially to $45.7 million.

GAAP net income was $29.1 million, compared to $4.9 million for the second quarter of 2010.

Second-quarter results included charges of $14.6 million related to plant closures, impairment of long-lived assets, transaction costs, and inventory fair value adjustments.

“We achieved record revenue and profitability, exceeding the guidance we provided for the quarter. The recently completed combination with Meadville has clearly been a transformative event for TTM,” said Kent Alder, president and CEO of TTM.

TTM estimates fourth-quarter revenue in the range of $351 million to $367 million.

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