COSTA MESA, CA -- TTM Technologies last night reported a net loss of $7.7 million for the period ended Sept. 30, down from a sequential net profit of $13.1 million and up from a loss of $208.3 million last year. The company also announced chief executive Kent Alder would step down at year's end.

The operating loss was $1.2 million, up from a loss of $202.7 million a year ago.

Sales in the quarter were flat at $338.7 million as higher demand for smartphones and tablets were offset by $6 million warranty claim tied to quality issues.

"Our third quarter revenue and non-GAAP earnings were within our guidance range for the quarter," said Alder. "We were pleased with the robust sequential increase in sales in our cellular phone and computing end markets which was driven by strong seasonal demand for our advanced technology PCBs used in smartphones and tablets.

"Offsetting some of the positive business trends we experienced during the quarter, were higher costs incurred relating to a warranty claim, which negatively impacted our operating results. As we enter the fourth quarter, we are focused on executing our revenue ramp and driving efficiencies to improve our bottom line results,"

The company took restructuring charges of $14.1 million in the quarter due to the closing of a plant in Suzhou.

TTM guided for fourth-quarter sales of $350 million to $370 million.

The printed circuit board fabricator said Alder would retire effective Dec. 31, but would stay on in an advisory role for one year. Alder will be superseded by president Thomas Edman, who joined the company from Applied Materials earlier this year. Alder has run TTM since it was founded via the merger of Pacific Circuits and Power Circuits in 1998.