Record Revenue Growth
TTM Technologies achieved a 14% year-over-year revenue growth, reaching $648.7 million in Q1 2025, driven by aerospace and defense, data center computing, networking, and medical, industrial, and instrumentation end markets.
Strong Non-GAAP Operating Margins
The company reported a non-GAAP operating margin of 10.5%, up 340 basis points year-over-year, achieving record high non-GAAP operating margin and EPS for a first quarter.
Aerospace and Defense Market Performance
The aerospace and defense market, comprising 47% of total sales, grew 15% year-on-year, supported by a solid program backlog of $1.55 billion.
Data Center and Networking Growth
Data center computing and networking markets saw significant year-on-year growth of 15% and 53% respectively, driven by demand for generative AI applications and increased switch-related demand.
Positive Outlook for New Facilities
TTM continues progress on customer qualifications in Penang and construction in Syracuse, with expectations for Penang to reach breakeven revenue levels by Q3 2025.
Sustainable Practices
TTM published its second corporate sustainability report on Earth Day, reflecting a commitment to minimizing environmental impact.