Record Revenue Growth
TTM achieved a 21% year-over-year revenue increase, driven by strong demand in aerospace and defense, data center computing, networking, and medical, industrial, and instrumentation end markets.
Strong Aerospace and Defense Market Performance
The aerospace and defense market accounted for 45% of total revenues, with a program backlog of approximately $1.46 billion. Revenues in this market grew 21% year-over-year to a record high.
Non-GAAP EPS Record
Non-GAAP EPS reached a quarterly record of $0.58, reflecting strong performance and adjustments for unrealized foreign exchange gains.
Solid Cash Flow and Financial Position
Cash flow from operations was 13.4% of revenues, with net leverage ending the quarter at a healthy 1.2x.
Expansion Plans and New Facilities
TTM announced the acquisition of a 750,000 square foot facility in Eau Claire, Wisconsin for advanced technology PCB production and continued progress on facilities in Penang, Malaysia and Syracuse, New York.
Defense Spending and Growth Potential
The fiscal year 2025 reconciliation bill included an additional $150 billion in defense spending, providing growth opportunities in radar systems and missile defense.