TTM Technologies, Inc. reported significant financial growth in its latest quarterly results, with net sales reaching $752.7 million for the quarter ended September 29, 2025, a 22.1% increase from $616.5 million in the same quarter of the previous year. For the three quarters ended September 29, 2025, total net sales were $2.132 billion, up 19.0% from $1.792 billion in the prior year. The company attributed this growth primarily to strong demand in the aerospace and defense, data center computing, and networking sectors, particularly driven by advancements in generative artificial intelligence.
The company's gross profit for the quarter increased to $156.7 million, up from $129.9 million, although the gross margin slightly decreased to 20.8% from 21.1% due to ramp-up costs associated with new facilities. Operating income also saw a notable rise, reaching $71.9 million for the quarter, compared to $51.0 million a year earlier, resulting in an operating margin increase to 9.6% from 8.3%. For the three quarters, operating income rose to $183.9 million, up from $107.0 million, with an operating margin of 8.6%, compared to 6.0% in the previous year.
In terms of strategic developments, TTM Technologies announced the acquisition of a 750,000-square-foot facility in Eau Claire, Wisconsin, and land rights for a new manufacturing site in Penang, Malaysia. These acquisitions are expected to enhance the company's capabilities in advanced technology PCB manufacturing and support its strategy for supply chain diversification. Additionally, TTM is constructing a new facility in Syracuse, New York, aimed at high-volume production of ultra-high-density interconnect PCBs, with operations expected to commence in the second half of 2026.
Operationally, TTM Technologies serves approximately 1,400 customers across various markets, including aerospace and defense, automotive, and medical sectors. The company reported a customer concentration where its ten largest customers accounted for 56% of net sales for the quarter. The company also noted a slight increase in employee headcount, reflecting its ongoing expansion efforts. As of September 29, 2025, TTM had cash and cash equivalents of approximately $491.1 million, with a significant portion held by foreign subsidiaries.
Looking ahead, TTM Technologies anticipates continued growth driven by strong demand across its key markets. The company expects to maintain its focus on operational efficiency and strategic investments to support its long-term objectives. The outlook remains positive, with management expressing confidence in the company's ability to navigate market challenges and capitalize on emerging opportunities in the technology sector.
About TTM TECHNOLOGIES INC
TTM Technologies, Inc. is a global manufacturer of advanced printed circuit boards, RF components, and engineered systems serving aerospace, defense, automotive, medical, and data center markets. It offers design, engineering, and manufacturing solutions, including high-density and flexible PCBs, RF assemblies, and mission systems. With a diversified customer base and manufacturing footprint, TTM emphasizes innovation, supply chain integration, and comprehensive support throughout product lifecycles.
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