SANTA ANA, CA – One-time charges swung PCB manufacturer TTM Technologies to a second-quarter net loss despite a year-over-year sales jump of 9% to $366.1 million. The GAAP net loss was $20.9 million, compared to net income of $27.1 million in the first quarter. Included in the second quarter was a charge of $46.6 million related to asset impairment.

“Our operating performance was within the expected range, although our gross margin was somewhat lower than we anticipated," said Kent Alder, president and CEO of TTM. "We experienced continued demand for our advanced technology products, with particular strength in our networking/communications end-market.

“During the second quarter, demand remained firm in our Asia Pacific operations for our higher tech PCBs that are used in the production of touchpad tablets and smartphones,” Alder said. “Our North America operations continued to generate solid cash flow.”

For the third quarter, TTM estimates revenue in the range of $365 million to $385 million.

TTM is a global printed circuit board manufacturer, focusing on quickturn PCBs, backplanes and sub-system assemblies.

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