A leading global PCB and electronics manufacturer, TTM Technologies, Inc. (NASDAQ: TTMI), announced on October 31, 2025, that two of its senior executives received Asia Steering Committee Outstanding Service Awards from the Global Electronics Association at the 2025 IPC CEMAC Electronics Manufacturing Annual Conference held in Shanghai.

Meising Ho, Vice President of Commercial Technology, received the IPC Asian Standards Steering Committee (ASSC) Outstanding Service Award. Richard Xie, Vice President of Human Resources for Asia Pacific, was honored with the IPC Asian Education Steering Committee (AESC) Outstanding Service Award. Both awards recognize significant contributions toward advancing industry standards and workforce development across Asia's electronics manufacturing sector.

"We are incredibly proud of Meising and Richard for this well-deserved recognition," said Doug Soder, Executive Vice President and President of TTM's Commercial Sector. "Their dedication reflects TTM's ongoing commitment to leadership and excellence in the electronics industry."

The IPC CEMAC (China Electronics Manufacturing Annual Conference) gathers global electronics industry experts to exchange insights, discuss manufacturing trends and promote technological advancements.

Q3 2025 Financial Performance

During a conference call held on October 29 at 4:30 p.m. Eastern Time, President and CEO Edwin Rox and CFO Daniel Boehle reported TTM's financial results for the third quarter of 2025.

 ● Net sales reached USD 752.7 million (≈ CNY 5.36 billion), up 22% year on year, driven by strong demand in aerospace and defense, data center computing, networking and medical, industrial and instrumentation markets.

 ● GAAP net income was USD 53.1 million (≈ CNY 0.38 billion), or USD 0.50 (≈ CNY 3.56) per diluted share, up from USD 14.3 million (≈ CNY 0.10 billion) a year earlier.

 ● Non-GAAP earnings per share were USD 0.67 (≈ CNY 4.77).

 ● Adjusted EBITDA totaled USD 120.9 million (≈ CNY 0.86 billion).

 ● Cash flow from operations was USD 141.8 million (≈ CNY 1.01 billion), representing 18.8% of net sales.

Aerospace and defense remained TTM's largest business, delivering USD 336.8 million in revenue, while data center computing accounted for 23% of sales and grew 44% year on year due to robust AI-related demand. Networking revenue rose 35%, while automotive declined to 11% of sales amid ongoing inventory adjustments.

TTM reported an overall book-to-bill ratio of 1.15, with a ninety-day backlog of USD 610.4 million. Cash and cash equivalents stood at USD 491.1 million, and net debt to EBITDA was 1.0.

Technology Roadmap and Capacity Expansion

CEO Edwin Rox highlighted the company's focus on high-complexity PCB and subsystem technologies for aerospace, defense and AI-driven computing markets. He emphasized progress in PCB innovation, noting that TTM is now demonstrating 87-layer PCB stack-ups and moving forward in stacked microvia adoption, high-resolution processes and advanced materials.

Expansion projects remain on schedule:

 ● Penang, Malaysia: Ramp-up is improving, with five customers in qualification. The facility reduced margin headwinds to 195 basis points in Q3 and is expected to improve to about 160 basis points in Q4. A second Penang facility remains part of its long-term plan.

 ● Syracuse, New York (Ultra HDI PCB facility): Equipment installation is underway, with volume production targeted for the second half of 2026.

Rox said TTM remains the largest PCB manufacturer in the United States and ranks around sixth to seventh globally, while holding a top three to four position in the data center market.

Outlook

For the fourth quarter of 2025, TTM expects:

 ● Net sales between USD 730 million and USD 770 million

 ● Non-GAAP EPS of USD 0.64 to USD 0.70, including Penang startup costs

Management expects continued strength in aerospace, defense and AI-related markets, while automotive demand will remain soft. Rox added that the company's strategic review is ongoing, with priorities focused on "growth, gross margin and cash."