Demand for semiconductors sent TM Technologies quotes up

Electronic components manufacturer TTM Technologies, Inc. (TTMI) has published a report for the second quarter. Sales growth, margin improvement, and good prospects drove TTMI quotes growth by $22.35% to $16.53 at the auction on August 4. In the last quarter, TTM Technologies’ revenue reached $625.6 million; a year earlier, this figure was $567.4 million. GAAP earnings were $27.8 million, or $0.27 per share. 

Operating cash flow increased by approximately $20 million to $79.3 million. The company has completed a $100 million share repurchase program. TTM Technologies reported strong demand in the commercial segment and improved profitability in the North American market. The company also diversified its business by completing the acquisition of Telephonics Corporation. TTM Technologies now has many solutions for the aerospace and defense industries. The company expects this segment to generate approximately 40% of revenue while ensuring sustainable long-term growth and less cyclical than the commercial segment. In addition, TTM Technologies intends to expand production volumes and is already starting construction of a new plant in Malaysia. 

This enterprise will produce many multilayer printed circuit boards for customers in the region. TTM Technologies has published circuit boards, radio frequency modules, and other components for automobiles, aircraft, defense, and space systems. In the third quarter, TTM Technologies expects revenue of $655—$695 million and net income of $0.41—$0.47 per share. The company remains one of the beneficiaries of the digital transformation of the global economy and the growing demand for compact, high-performance electronics.