-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueWet Process Control
In this issue, we examine wet processes and how to obtain a better degree of control that allows usable data to guide our decisions and produce consistently higher-quality products.
Don’t Just Survive, Thrive
If we are to be relevant and prosper during these next critical decades in electronics, we must do more than survive. As an industry, we can and must thrive. In this issue, our contributors explore these concepts meant to help you take your business to the next level.
Material Matters
Materials management is nuanced, multifaceted, and requires a holistic systems approach for business success. When building high mix, low volume, and high technology, managing materials and overall cost containment are even greater challenges.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
TTM Technologies: Defense, Data Drive Profits in 3Q
October 29, 2020 | Globe NewswireEstimated reading time: 1 minute
![](https://iconnect007.com/application/files/3816/3116/2722/dollar_up_chart.jpg)
TTM Technologies, Inc., a leading global printed circuit board (“PCB”) and radio frequency (“RF”) components manufacturer, reported results for the third quarter of fiscal 2020, which ended on September 28, 2020.
On April 19th, 2020, TTM completed the previously announced sale of its Mobility business unit. The operating results and related assets and liabilities of the Mobility business under US GAAP are presented as discontinued operations for all periods. Non-GAAP results do not include Mobility results but still include the two E-MS plants being shut down. Please refer to the earnings schedule for additional details on exited businesses and continuing operations.
“In the third quarter, TTM demonstrated excellent operational execution to deliver revenue and earnings above the previously guided range. The diversified mix of end markets that we serve enabled the PCB segment to grow revenues and outperform profit expectations due to solid growth in the data center and defense end markets despite weakness in the commercial aerospace end market,” said Tom Edman, CEO of TTM. “Additionally, strict financial discipline led to strong operating cash flow in the quarter driving our net debt leverage ratio down to 1.6x.”
Third Quarter 2020 Highlights
- Net sales were $513.6 million
- GAAP net loss of $41.5 million, or ($0.39) per diluted share, inclusive of a goodwill impairment charge of $69.2 million
- Non-GAAP net income was $26.8 million, or $0.25 per diluted share
- Cash flow from operations of $84.8 million
- Received all remaining proceeds from Mobility sale and repaid $400 million of Term Loan B
- Leverage ratio at September 28th was 1.6x defined as net debt/last twelve months EBITDA excluding Mobility
Suggested Items
Foxhole Group Boosts Life Science Capabilities with Accutron Partnership
09/03/2024 | Foxhole GroupFoxhole Group, a private investment firm focused on the industrial sector, announced today that it has added significant depth of expertise in life science and aerospace and defense capabilities to its Foxtronics EMS platform by partnering with the Faldu family to add Accutron to the company’s portfolio of EMS brands.
Marshall, Tech Mahindra to Explore Aerospace and Defense Collaboration
09/02/2024 | MarshallMarshall and Tech Mahindra, a leading global provider of technology consulting and digital solutions to enterprises across industries, have signed a Memorandum of Understanding (MoU) to identify and develop opportunities to work together across the aerospace and defense domains.
A Less Expensive Defense and Aerospace PCB Fab Startup
08/20/2024 | Alex Stepinski, Stepinski GroupEditor’s note: Investing in a new printed circuit board fabrication startup is not for the faint of heart or the light of wallet. Standing up a new “high-tech” PCB fab facility capable of becoming qualified for aerospace and defense work typically takes a minimum investment of $50 million. However, Alex Stepinski says entering the defense and aerospace markets with a new PCB fabrication start-up facility far under this prohibitive cost benchmark is possible when good partnerships, innovation, and sound engineering design enter from the beginning. In this article, Alex Stepinski outlines just how this can be achieved.
USPACE and EgSA to Form Aerospace Joint Venture in Egypt
08/16/2024 | PRNewswireUSPACE Technology Group Limited is pleased to announce that the Group has signed the strategic partnership agreement with the Egyptian Space Agency (EgSA), in relation to satellite manufacturing and testing, satellite launch, education and training, greatly expanding its business presence in the fast-growing African space market.
UHDI Fundamentals: UHDI Applications for Aerospace
08/13/2024 | Anaya Vardya, American Standard CircuitsUltra high density interconnect (UHDI) technology refers to advanced manufacturing processes used to create extremely compact and highly efficient electronic circuits at the sub-1-mil line and space level. In aerospace applications, UHDI is crucial due to the stringent requirements for weight, reliability, and performance in a challenging environment.