-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueAdditive Manufacturing
In this month’s issue, we explore additive manufacturing technology for the PCB fabricator: where it stands today, the true benefits, and where it seems to be headed.
The Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
TTM Technologies Reports First Quarter 2024 Results
May 2, 2024 | TTM TechnologiesEstimated reading time: 1 minute
TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards (PCB), reported results for the first quarter 2024, which ended on April 1, 2024.
First Quarter 2024 Highlights
- Net sales were $570.1 million
- GAAP net income of $10.5 million, or $0.10 per diluted share
- Non-GAAP net income was $32.8 million, or $0.31 per diluted share
- Cash flow from operations was $43.9 million
- Repurchased 600,000 shares of common stock for $9.3 million at an average price of $15.56 per share
First Quarter 2024 GAAP Financial Results
Net sales for the first quarter of 2024 were $570.1 million, compared to $544.4 million in the first quarter of 2023.
GAAP operating income for the first quarter of 2024 was $17.1 million compared to GAAP operating loss for the first quarter of 2023 of $3.5 million.
GAAP net income for the first quarter of 2024 was $10.5 million, or $0.10 per diluted share, compared to GAAP net loss of $5.8 million, or ($0.06) per diluted share in the first quarter of 2023.
First Quarter 2024 Non-GAAP Financial Results
On a non-GAAP basis, net income for the first quarter of 2024 was $32.8 million, or $0.31 per diluted share. This compares to non-GAAP net income of $18.6 million, or $0.18 per diluted share, for the first quarter of 2023.
Adjusted EBITDA in the first quarter of 2024 was $74.8 million, or 13.1% of sales compared to adjusted EBITDA of $58.5 million, or 10.7% of sales for the first quarter of 2023.
Suggested Items
India PC Market Grew 2.6% YoY in 1Q2024 with 3.07 Million Units Shipped
05/20/2024 | IDCAccording to recent data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker, India’s traditional PC market (inclusive of desktops, notebooks, and workstations) shipped 3.07 million units in 1Q2024, up 2.6% year-over-year (YoY).
Avnet Launches QCS6490 Vision-AI Development Kit
05/17/2024 | AvnetThe QCS6490 Vision-AI Development Kit from Avnet enables engineering teams to rapidly prototype hardware, application software and AI enablement for multi-camera, high-performance, Edge AI-enabled custom embedded products.
Nortech Systems Reports Q1 Results and Actions to Reduce Facility Costs
05/17/2024 | BUSINESS WIRENortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported first quarter ended March 31, 2024 financial results.
Shipments of OLED Monitors Hit 200,000 Units in 1Q24, Annual Forecast to Reach 1.34 Million
05/17/2024 | TrendForceTrendForce’s latest report reveals a robust start to 2024 for OLED monitors, with shipments reaching approximately 200,000 units in the first quarter—marking a YoY growth of 121%.
The ICAPE Group Reports Revenue for Q1 2024
05/16/2024 | ICAPE GroupThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced its revenue for the first quarter of 2024.