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Smartsand " TTM Technologies , Inc. Reports Fiscal Third Quarter 2021 Results October 27 , 2021 SANTA ANA , Calif . , Oct. 27 , 2021 ( GLOBE NEWSWIRE ) -- TTM Technologies , Inc. ( NASDAQ : TTMI ) , a leading global printed circuit board ( " PCB " ) and radio frequency ( " RF " ) components and assemblies manufacturer , today reported results for the third quarter of fiscal 2021 , which ended on September 27 , 2021 . Third Quarter 2021 Highlights • Net sales were $ 556.8 million • GAAP net income of $ 21.0 million , or $ 0.19 per diluted share • Non - GAAP net income was $ 36.5 million , or $ 0.34 per diluted share • Repurchased 2.11 million shares of common stock for $ 28.9 million at an average price of $ 13.71 per share Third Quarter 2021 Financial Results Net sales for the third quarter of 2021 were $ 556.8 million , compared to $ 513.6 million from continuing operations in the third quarter of 2020 . GAAP operating income for the third quarter of 2021 was $ 32.2 million . This compares to GAAP operating loss of $ 40.3 million from continuing operations in the third quarter of 2020 , inclusive of a goodwill impairment charge of $ 69.2 million . GAAP net income for the third quarter of 2021 was $ 21.0 million , or $ 0.19 per diluted share , compared to net loss of $ 61.5 million , or ( $ 0.58 ) per diluted share from continuing operations in the third quarter of 2020 . On a non - GAAP basis , net income for the third quarter of 2021 was $ 36.5 million , or $ 0.34 per diluted share . This compares to non - GAAP net income of $ 26.8 million , or $ 0.25 per diluted share from continuing operations in the third quarter of 2020 . Adjusted EBITDA in the third quarter of 2021 was $ 68.6 million , or 12.3 percent of net sales , compared to adjusted EBITDA of $ 67.2 million , or 13.1 percent of net sales , from continuing operations , in the third quarter of 2020 . " In the third quarter , TTM delivered revenue and non - GAAP earnings within the previously guided range despite labor and production inefficiencies in North America and tight supply conditions globally for certain raw materials . Results were led by strong year on year growth from the automotive and data center computing end markets and strength from the medical , industrial and instrumentation end market , " said Tom Edman , CEO of TTM . Business Outlook In the fourth quarter , further increases in labor and raw materials costs , along with potential power rationing in China , are expected to negatively affect profitability . As a result , TTM estimates that revenue for the fourth quarter of 2021 will be in the range of $ 530 million to $ 570 million , and non - GAAP net income will be in the ge of $ 0.28 to $ 0.34 per diluted share . Live Webcast / Conference Call TTM will host a conference call and webcast to discuss third quarter 2021 results and the fourth quarter 2021 outlook on Wednesday , October 27th , 2021 at 4:30 p.m. Eastern Time ( 1:30 p.m. Pacific Time ) . The conference call will include forward - looking statements . Telephone access is available by dialing domestic 800-263-0877 or international 323-794-2094 ( ID 8701149 ) . The conference call also will be webcast on TTM's website at www.ttm.com . To Access a Replay of the Webcast The replay of the webcast will remain accessible for one week following the live event on TTM's website at www.ttm.com . About TTM TTM Technologies , Inc. is a leading global printed circuit board manufacturer , focusing on quick - turn and volume production of technologically advanced PCBs and backplane assemblies as well as a global designer and manufacturer of high - frequency radio frequency ( RF ) and microwave components and assemblies . TTM stands for time - to - market , representing how TTM's time - critical , one - stop manufacturing services enable customers to ten the time required to develop new products and bring them to market . Additional information can found at www.ttm.com . Forward - Looking Statements The preliminary financial results included in this press release represent the most current information available to management . The company's actual results when disclosed in its Form 10 - Q may differ from these preliminary results as a result of the completion of the company's financial closing procedures ; final adjustments ; completion of the review by the company's independent registered accounting firm ; and other developments that may arise between now and the disclosure of the final results . This release contains forward - looking statements that relate to future events or performance . TTM cautions you that such statements are simply predictions and actual events or results may differ materially . These statements reflect TTM's current expectations , and TTM does not undertake to update or revise these forward looking statements , even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized . Further , these statements involve risks and uncertainties , many of which are beyond TTM's control , which could cause actual results to differ materially from the forward - looking statements . These risks and uncertainties include , but are not limited to , the impact of COVID - 19 , general market and economic conditions , including interest rates , currency exchange rates and consumer spending , demand for TTM's products , market pressures on prices of TTM's products and raw materials used in TTM's products , warranty claims , changes in product mix , contemplated significant capital expenditures and related financing requirements , TTM's dependence upon a small number of customers and other factors set forth in the " Risk Factors " and " Management's Discussion and Analysis of