Trouble in Your Tank: Implementing Direct Metallization in Advanced Substrate Packaging
It’s Only Common Sense: Storytelling That Sells—Stop Pitching, Start Painting Pictures
The Right Approach: Get Ready for ISO 9001 Version 6
TTM Technologies: Defense, Data Drive Profits in 3Q
October 29, 2020 | Globe NewswireEstimated reading time: 1 minute
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
Share on:
Testimonial
"Advertising in PCB007 Magazine has been a great way to showcase our bare board testers to the right audience. The I-Connect007 team makes the process smooth and professional. We’re proud to be featured in such a trusted publication."
Klaus Koziol - atgSuggested Items
Nortech Systems Achieves Enhanced Fiber Optic Performance
09/16/2025 | Nortech SystemsNortech Systems Incorporated, a leading provider of design and manufacturing solutions for complex electromedical devices and electromechanical systems, announced significant advancements in its fiber optic capabilities.
Altair, Wichita State University’s NIAR Sign MoU to Accelerate Aerospace Innovation
09/16/2025 | AltairAltair, a global leader in computational intelligence, and Wichita State University’s (WSU) National Institute for Aviation Research (NIAR), one of the world’s leading aerospace research institutions, have signed a memorandum of understanding (MoU) to advance innovation across the aerospace and defense industries.
India’s Aerospace and Defence Engineered for Power, Driven by Electronics
09/16/2025 | Gaurab Majumdar, Global Electronics AssociationWith a defence budget of $82.05 billion (2025–26) and a massive $223 billion earmarked for aerospace and defence spending over the next decade, India is rapidly positioning itself as a major player in the global defence and aerospace market.
Honeywell-Led Consortium Receives UK Government Funding to Revolutionize Aerospace Manufacturing
09/02/2025 | HoneywellA consortium led by Honeywell has received UK Government funding for a project that aims to revolutionize how critical aerospace technologies are manufactured in the UK through the use of AI and additive manufacturing.
Coherent Announces Agreement to Sell Aerospace and Defense Business to Advent for $400 Million
08/15/2025 | AdventCoherent Corp., a global leader in photonics, today announced that it has entered into a definitive agreement to sell its Aerospace and Defense business to Advent, a leading global private equity investor, for $400 million. Proceeds will be used to reduce debt, which will be immediately accretive to Coherent’s EPS.