TTM Technologies, Inc. (NASDAQ: TTMI), a maker of electrical components, has issued its second-quarter report. TTMI rose $22.35 percent to $16.53 on August 4 due to increased sales, stronger profitability, and promising prospects.
TTM Technologies’ sales last quarter were $625.6 million, up from $567.4 million the previous year. Earnings per share under GAAP were $27.8 million, or $0.27 per share. Operating cash flow increased by almost $20 million to $79.3 million. The corporation concluded a $100 million share repurchase program.
In the North American market, TTMI reported robust commercial demand and better profits. By completing the acquisition of Telephonics Corporation, the corporation also diversified its operations.
TTM Technologies, Inc. (TTMI) now offers a diverse variety of solutions to the aerospace and military industries. This segment is expected to produce around 40% of revenue while providing sustainable long-term growth and less cyclicality than the commercial segment.
TTMI also wants to increase manufacturing levels and has begun building on a new factory in Malaysia. This factory will manufacture a huge quantity of multilayer printed circuit boards for regional clients.
TTM Technologies, Inc. (TTMI) now manufactures printed circuit boards, radio frequency (RF) modules, and other components for automotive, aerospace, defense, and space applications.
TTMI anticipates sales of $655- $695 million and net income of $0.41- $0.47 per share in the current third quarter. The firm continues to benefit from the global economy’s digital revolution and the rising need for tiny high-performance devices.
TTMI stock has traded in a 5-day range of $13.34 to $17.48, with a total performance of +24.02 percent. Meanwhile, during the last month, this stock has moved in a range of $11.55 to $17.48, representing a +41.01 percent change. This stock’s price has moved by +16.53 percent in the last three months, moving in the range of $11.53 to $17.48.