SANTA ANA, CA -- TTM Technologies reported lower sales and profits on seasonal drops in demand for printed circuit boards in the second quarter.

The PCB manufacturer's net sales for the quarter ended June 25 fell 10.6% year-over-year, although they rose 9% sequentially, to $327.4 million.

Net income plunged 41% sequentially to $7.4 million, but was up from a loss of $20.3 million a year ago. Operating income slid 17% sequentially to $18.1 million. Gross margin was 16.7%.

"Second quarter revenue was within our expected range as sales increased following the normal seasonality we experienced in the first quarter. However, weaker than expected demand for advanced technology PCBs as well as higher labor costs in Asia impacted margins and earnings during the quarter," said Kent Alder, president and CEO, in a press release. "As we enter the second half of the year, we are beginning to receive orders in our Asia Pacific segment for new handheld products. This improving advanced HDI demand in the second half is beginning to materialize as anticipated and should improve our results."

For the third quarter, TTM estimates revenue in the range of $340 million to $360 million.

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