SANTA ANA, CA – Printed circuit board manufacturer TTM Technologies posted third-quarter net sales of $358.3 million, down 2.1% sequentially and down 0.14% year-over-year.

GAAP net income was $24.5 million, down 15.8% year-over-year. The firm posted a net loss of $20.9 million in the second quarter. 

“Softer demand for printed circuit boards due to weaker economic conditions – combined with several push-outs of orders at the end of the quarter – led to lower than expected revenue for the quarter,” said Kent Alder, president and CEO of TTM.

For the fourth quarter, TTM estimates revenue in the range of $345 million to $365 million.