SANTA ANA, CA – Printed circuit board manufacturer TTM Technologies today said fourth-quarter 2010 net sales increased 152% year-over-year and 6% sequentially to a record $377.9 million.

GAAP net income grew 14% sequentially to $33 million, compared to net income of $2.8 million during the same period in 2009.

Operating income for the quarter was up 15.1% sequentially to $52.6 million.

Full-year 2010 net sales were $1.2 billion, up 106% year-over-year. GAAP net income grew to $71.5 million, compared to $4.9 million for 2009. The increase in sales and income was primarily due to the PCB maker’s merger with Meadville.

“Strong demand for our advanced technology products, including PCBs used in touchpad tablets, networking equipment and smartphones, contributed to the record fourth-quarter revenue and profitability. We continue to benefit from robust growth in our Asia Pacific operations and solid performance in our North America operations,” said Kent Alder, president and CEO of TTM.

The firm expects normal seasonality for the first quarter of 2011, estimating revenue in the range of $338 million to $358 million.

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