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
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