-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Hole Truth: Via Integrity in an HDI World
From the drilled hole to registration across multiple sequential lamination cycles, to the quality of your copper plating, via reliability in an HDI world is becoming an ever-greater challenge. This month we look at “The Hole Truth,” from creating the “perfect” via to how you can assure via quality and reliability, the first time, every time.
In Pursuit of Perfection: Defect Reduction
For bare PCB board fabrication, defect reduction is a critical aspect of a company's bottom line profitability. In this issue, we examine how imaging, etching, and plating processes can provide information and insight into reducing defects and increasing yields.
Voices of the Industry
We take the pulse of the PCB industry by sharing insights from leading fabricators and suppliers in this month's issue. We've gathered their thoughts on the new U.S. administration, spending, the war in Ukraine, and their most pressing needs. It’s an eye-opening and enlightening look behind the curtain.
- Articles
- Columns
- Links
- Media kit
||| MENU - pcb007 Magazine
TTM Technologies Reports Fiscal Third Quarter 2021 Results
October 28, 2021 | GlobeNewswireEstimated reading time: 1 minute
TTM Technologies, Inc., a leading global printed circuit board (PCB) and radio frequency (RF) components and assemblies manufacturer, today reported results for the third quarter of fiscal 2021, which ended on September 27, 2021.
Third Quarter 2021 Highlights
- Net sales were $556.8 million
- GAAP net income of $21.0 million, or $0.19 per diluted share
- Non-GAAP net income was $36.5 million, or $0.34 per diluted share
- Repurchased 2.11 million shares of common stock for $28.9 million at an average price of $13.71 per share
Third Quarter 2021 Financial Results
Net sales for the third quarter of 2021 were $556.8 million, compared to $513.6 million from continuing operations in the third quarter of 2020.
GAAP operating income for the third quarter of 2021 was $32.2 million. This compares to GAAP operating loss of $40.3 million from continuing operations in the third quarter of 2020, inclusive of a goodwill impairment charge of $69.2 million.
GAAP net income for the third quarter of 2021 was $21.0 million, or $0.19 per diluted share, compared to net loss of $61.5 million, or ($0.58) per diluted share from continuing operations in the third quarter of 2020.
On a non-GAAP basis, net income for the third quarter of 2021 was $36.5 million, or $0.34 per diluted share. This compares to non-GAAP net income of $26.8 million, or $0.25 per diluted share from continuing operations in the third quarter of 2020.
Adjusted EBITDA in the third quarter of 2021 was $68.6 million, or 12.3 percent of net sales, compared to adjusted EBITDA of $67.2 million, or 13.1 percent of net sales, from continuing operations, in the third quarter of 2020.
“In the third quarter, TTM delivered revenue and non-GAAP earnings within the previously guided range despite labor and production inefficiencies in North America and tight supply conditions globally for certain raw materials. Results were led by strong year on year growth from the automotive and data center computing end markets and strength from the medical, industrial and instrumentation end market,” said Tom Edman, CEO of TTM.
Business Outlook
In the fourth quarter, further increases in labor and raw materials costs, along with potential power rationing in China, are expected to negatively affect profitability. As a result, TTM estimates that revenue for the fourth quarter of 2021 will be in the range of $530 million to $570 million, and non-GAAP net income will be in the range of $0.28 to $0.34 per diluted share.
Suggested Items
Hon Hai Reports New June Sales High Amid AI Boom
07/07/2025 | I-Connect007 Editorial TeamTaiwan-based manufacturing giant Hon Hai Precision Industry Co. reported on July 5 that its sales for June rose 10 percent from the previous year, driven by cloud and networking growth because of the boom in artificial intelligence (AI), the Taipei Times reported.
IBIDEN Earns Recognition in FTSE Russell ESG Indexes, Reinforcing Commitment to Sustainable Growth
07/07/2025 | IBIDENIBIDEN Co, Ltd. is pleased to announce that it has been selected for FTSE4Good Index Series for the tenth consecutive year, FTSE Blossom Japan Index for the nineth consecutive year, and FTSE Blossom Japan Sector Relative Index for the fourth consecutive year.
Yannick Green Joins Technica USA as Business Development/Account Manager for Northern California and Northern Nevada
07/07/2025 | Technica USATechnica USA is proud to announce that industry veteran Yannick Green has rejoined Team Technica as Business Development/Account Manager, supporting both supply partners and PCBA customers across Northern California and Northern Nevada.
Results of the AT&S Annual General Meeting: Andy Mattes appointed Chairman of the Supervisory Board
07/04/2025 | AT&SAndy Mattes was newly elected to the Supervisory Board of AT&S Austria Technologie und Systemtechnik Aktiengesellschaft and is appointed until the 36th Annual General Meeting 2030. Georg Hansis was re-elected.
Murray Percival Company Welcomes CeTaQ to Its Line Card, Optimizing SMT Processes for PCB Manufacturers
07/03/2025 | Murray Percival CompanyThe Murray Percival Company, a trusted supplier to the Midwest's electronics industry, is pleased to announce that it has added CeTaQ to its line card, a global expert in Surface Mount Technology (SMT) measurement systems.