Fresh PCB Concepts: Key Considerations for Reliability, Performance, and Compliance in PCBs
Elementary Mr. Watson: Navigating RF—A Glide Path Approach to Design Success
Designers Notebook: Layer Stackup Planning for RF Circuit Boards
TTM Technologies Reports Q1 2025 Results
May 1, 2025 | Globe NewswireEstimated reading time: 1 minute
TTM Technologies, Inc., a leading global manufacturer of technology solutions, including mission systems, radio frequency (RF) components, RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards (PCBs) reported results for the first quarter 2025, which ended on March 31, 2025.
First Quarter 2025 Highlights
- Net sales were $648.7 million, up 14% year on year
- GAAP net income of $32.2 million, or $0.31 per diluted share
- Non-GAAP net income of $52.4 million, or $0.50 per diluted share, a record high for a first quarter
- Cash usage from operations of $10.7 million due to an increase in working capital
- Book to bill of 1.10 for the first quarter
- A&D program backlog $1.55 billion
- First Quarter 2025 GAAP Financial Results
- Net sales for the first quarter of 2025 were $648.7 million, compared to $570.1 million in the first quarter of 2024.
- GAAP operating income for the first quarter of 2025 was $50.3 million compared to GAAP operating income for the first quarter of 2024 of $17.1 million.
- GAAP net income for the first quarter of 2025 was $32.2 million, or $0.31 per diluted share, compared to GAAP net income for the first quarter of 2024 of $10.5 million, or $0.10 per diluted share.
First Quarter 2025 Non-GAAP Financial Results
On a non-GAAP basis, net income for the first quarter of 2025 was $52.4 million, or $0.50 per diluted share. This compares to non-GAAP net income of $29.1 million, or $0.28 per diluted share, for the first quarter of 2024.
Adjusted EBITDA in the first quarter of 2025 was $99.5 million, or 15.3% of sales compared to adjusted EBITDA of $70.5 million, or 12.4% of sales for the first quarter of 2024.
“We delivered a strong quarter with revenues and non-GAAP EPS above the high end of the guided range. Revenues grew 14% year on year due to demand strength in our Aerospace and Defense, Data Center Computing and Networking end markets, the latter two being driven by generative AI,” said Tom Edman, CEO of TTM. “Non-GAAP operating margins were 10.5%, up 340 basis points year on year, and were double digit for the third consecutive quarter, reflecting continued solid execution, particularly in a normally challenging first quarter. Finally, non-GAAP EPS was a record high for a first quarter at $0.50 per diluted share,” concluded Mr. Edman.
Business Outlook
For the second quarter of 2025, TTM estimates that revenues will be in the range of $650 million to $690 million, and non-GAAP net income will be in the range of $0.49 to $0.55 per diluted share.
Share on:
Suggested Items
Schweizer Electronic Publishes Group Figures for 2024 and Provides Outlook for 2025
05/01/2025 | Schweizer Electronic AGSCHWEIZER achieved a turnover of EUR 144.5 million in the 2024 financial year (previous year: EUR 139.4 million), the highest consolidated turnover in the company's history.
Discover the Future of AI in Test and Inspection in the May 2025 Issue of SMT007 Magazine
05/01/2025 | I-Connect007 Editorial TeamAre you ready to explore the cutting-edge advancements in AI shaping the electronics manufacturing industry through test and inspection? The May 2025 issue of SMT007 Magazine provides insights, innovations, and perspectives from today's top experts you won't find anywhere else.
IPC Excellence in Education Award: Zenaida Valianu
05/01/2025 | Nolan Johnson, I-Connect007Zenaida Valianu is the training manager at IPC who brings more than 25 years of expertise in standards and training development to her role. She has revolutionized IPC certification training programs by significantly enhancing their content with comprehensive curricula and engaging materials. She has also been instrumental in developing essential workforce training courses and contributing to various other initiatives.
A Visit With ‘Flexperts’ Mark Finstad and Nick Koop
05/01/2025 | Joe Fjelstad, Verdant ElectronicsAt IPC APEX EXPO 2025, I chatted with seasoned flex experts Mark Finstad and Nick Koop about "Flexperts" and their roles as leading educators and in the realm of standards development for this increasingly indispensable electronic interconnection technology. They have been teaching about lessons learned and how to successfully navigate the “seas” of flexible circuits to help their students avoid the hazards that have taken down many of their predecessors in the past.
Aspocomp Reports Strong Q1 2025: Significant Sales Growth and Return to Profitability
04/30/2025 | AspocompAspocomp Group Plc announced its interim report for the first quarter of 2025, demonstrating a significant turnaround with substantial increases in both order book and net sales, and a clear return to profitability.