Marcy’s Musings: Advancing the Advanced Materials Discussion
The Marketing Minute: Cracking the Code of Technical Marketing
Trouble in Your Tank: Implementing Direct Metallization in Advanced Substrate Packaging
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.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Technica USA Advocates for PCBAA Membership Among Printed Circuit Assembly Customers
09/16/2025 | Technica USATechnica USA is actively encouraging its printed circuit assembly customers to join the Printed Circuit Board Association of America (PCBAA), a leading industry organization advocating for increased domestic production of printed circuit boards (PCBs) and substrates.
Knocking Down the Bone Pile: Best Practices for Electronic Component Salvaging
09/17/2025 | Nash Bell -- Column: Knocking Down the Bone PileElectronic component salvaging is the practice of recovering high-value devices from PCBs taken from obsolete or superseded electronic products. These components can be reused in new assemblies, reducing dependence on newly purchased parts that may be costly or subject to long lead times.
Staying on Top of Signal Integrity Challenges
09/16/2025 | Andy Shaughnessy, Design007 MagazineOver the years, Kris Moyer has taught a variety of advanced PCB design classes, both online IPC courses and in-person classes at California State University-Sacramento, where he earned his degrees in electrical engineering. Much of his advanced curriculum focuses on signal integrity, so we asked Kris to discuss the trends he’s seeing in signal integrity today, the SI challenges facing PCB designers, and his go-to techniques for controlling or completely eliminating SI problems.
TTM Technologies to Exhibit at the Electronica India 2025 Exhibition in Bengaluru, India
09/16/2025 | Globe NewswireTTM Technologies, Inc., a leading global manufacturer of technology solutions, including mission systems, radio frequency (RF) components, RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards (PCBs), will exhibit at the Electronica India 2025 trade fair, at Hall 3, booth #H41, from September 17-19, 2025, at the Bangalore International Exhibition Centre, Bengaluru, India.
ICAPE Group Unveils Exclusive Report on Sustainability in Electronics Manufacturing
09/15/2025 | ICAPE GroupICAPE Group, a global leader in printed circuit boards (PCBs) and custom electronics manufacturing, today announces the launch of its 2025 Industry Outlook & Innovation Report: Sustainability in Electronics Manufacturing. This exclusive report is accompanied by fresh insights from a dedicated Statista survey of 100 electronics manufacturing professionals, commissioned by ICAPE Group.