Ttm Technologies ( (TTMI) ) has realeased its Q3 earnings. Here is a breakdown of the information Ttm Technologies presented to its investors.
TTM Technologies, Inc. is a leading global manufacturer of technology solutions, specializing in mission systems, RF components, microwave/microelectronic assemblies, and printed circuit boards (PCBs), with a focus on delivering time-critical manufacturing services to its customers.
In its third quarter of 2024, TTM Technologies reported a solid performance with net sales reaching $616.5 million, reflecting a growth from the previous year. The company achieved a GAAP net income of $14.3 million, or $0.14 per diluted share, and a non-GAAP net income of $42.7 million, or $0.41 per diluted share, despite facing a significant foreign exchange loss.
Key financial highlights include an operating income of $51.0 million compared to a loss in the same period last year, driven by higher revenues and improved operational execution. TTM also reported a book-to-bill ratio of 1.20 and a record backlog in its Aerospace and Defense program at $1.49 billion. The company’s cash flow from operations was robust at $65.1 million, supporting a healthy balance sheet.
Looking ahead, TTM Technologies projects its fourth-quarter revenues to be between $610 million and $650 million, with non-GAAP net income per diluted share expected to range from $0.44 to $0.50. The company’s ongoing focus on strengthening its market position and operational efficiencies suggests continued growth potential in the near future.
