This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TTM Technologies, Inc. Reports Record Fourth Quarter And Fiscal Year 2010 Results

SANTA ANA, Calif., Feb. 10, 2011 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (Nasdaq:TTMI), a major global printed circuit board (PCB) manufacturer, today reported results for the fourth quarter and fiscal year 2010, ended December 31, 2010.

Fourth Quarter 2010 Highlights
  • Net sales increased 6 percent sequentially to a record $377.9 million
  • GAAP net income attributable to stockholders grew 14 percent sequentially to $33.0 million, or $0.41 per diluted share
  • Non-GAAP net income attributable to stockholders increased sequentially 13 percent to $39.7 million, or $0.49 per diluted share
  • Gross margin increased sequentially to 23.8 percent
  • The combination with Meadville Holdings Ltd. was again highly accretive to GAAP earnings, adding more than $0.20 per diluted share in the fourth quarter

Fiscal Year 2010 Highlights
  • Completed combination with Meadville on April 9, 2010
  • Net sales increased to $1.2 billion
  • GAAP net income attributable to stockholders grew to $71.5 million, or $1.01 per diluted share
  • Non-GAAP net income attributable to stockholders increased to $105.5 million, or $1.49 per diluted share
  • Gross margin increased to 21.5 percent

Financial Results

Net sales for the fourth quarter of 2010 increased to $377.9 million from $357.8 million in the third quarter of 2010.

Operating income for the fourth quarter of 2010 increased to $52.6 million from $45.7 million in the third quarter of 2010.

GAAP net income attributable to stockholders for the fourth quarter of 2010 was $33.0 million, or $0.41 per diluted share, compared to $29.1 million, or $0.36 per diluted share, for the third quarter of 2010. The results for both the third and fourth quarters of 2010 included foreign exchange gains that contributed approximately $0.02 per diluted share each quarter.

On a non-GAAP basis, net income attributable to stockholders for the fourth quarter of 2010 was $39.7 million, or $0.49 per diluted share. This compares to non-GAAP net income attributable to stockholders of $35.0 million, or $0.43 per diluted share, in the third quarter of 2010.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs