ANAHEIM, CA -- DDi Corp. reported third-quarter net income fell 20% from a year ago to $5.2 million on softer end-market demand.

For the period ended Sept. 30, net sales were $66.2 million, flat sequentially and down 4% from 2010. The book-to-bill ratio was 0.98, meaning $98 worth of orders were placed for every $100 worth of shipments. Net income was up $200,000 sequentially.

During the period, the printed circuit fabricator's net sales to the military and aerospace segments rose 12% sequentially, to 35% of total net sales.

Operating income fell 5.5% sequentially 29% year-over-year to $5.2 million. Gross profit margin decreased 80 basis points sequentially and 150 basis points from a year ago to 21% on rising material costs, including gold and copper.

Cash and working capital rose to $28.4 million and $59.8 million, respectively.

In a statement, president and chief executive Mikel Williams said, “While our top line was flat sequentially, our continued profitability and cash flows enabled us to invest in our technical capabilities while also strengthening our financial position and returning value to our shareholders with continued cash dividends. We are in solid position to exploit acquisition opportunities that may present themselves as we go forward.”

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