Core Insights - TTM Technologies, Inc. reported strong financial results for the fourth quarter and fiscal year 2025, with significant growth in net sales and profitability driven by demand in key markets such as Data Center Computing and Aerospace and Defense [3][4][6]. Financial Performance - Fourth quarter 2025 net sales reached $774.3 million, a 19% increase from $651.0 million in the same quarter of 2024 [3][10]. - GAAP operating income for the fourth quarter of 2025 was $80.7 million, compared to $9.0 million in the fourth quarter of 2024, which included a $32.6 million goodwill impairment charge [3][4]. - GAAP net income for the fourth quarter of 2025 was $50.7 million, or $0.48 per diluted share, up from $5.2 million, or $0.05 per diluted share in the fourth quarter of 2024 [4][10]. - Adjusted EBITDA for the fourth quarter of 2025 was $126.2 million, representing 16.3% of net sales, compared to $95.7 million, or 14.7% of net sales, in the fourth quarter of 2024 [5][10]. Annual Results - For the full year 2025, net sales increased to $2.9 billion from $2.4 billion in 2024, marking a 19% growth [7][8]. - GAAP operating income for 2025 was $264.7 million, compared to $116.0 million in 2024 [7]. - GAAP net income for 2025 was $177.4 million, or $1.68 per diluted share, up from $56.3 million, or $0.54 per diluted share in 2024 [8]. - Non-GAAP net income for 2025 was $259.0 million, or $2.46 per diluted share, compared to $177.5 million, or $1.70 per diluted share in 2024 [8]. Market Segments - The Data Center Computing and Networking markets accounted for 36% of total company revenues, driven by demand for generative AI [10][11]. - The Aerospace and Defense segment experienced higher than market growth, contributing significantly to overall revenue [6][11]. - The Medical, Industrial, and Instrumentation markets also showed healthy double-digit revenue growth [6][11]. Business Outlook - For the first quarter of 2026, TTM estimates net sales to be in the range of $770 million to $810 million, with non-GAAP net income projected between $0.64 and $0.70 per diluted share [12]. - For fiscal year 2026, TTM anticipates net sales growth in the range of 15% to 20% [12].

Core Insights - Eltek Ltd. reported its financial results for the quarter ending September 30, 2025, highlighting its position as a global manufacturer and supplier in the printed circuit boards (PCBs) industry [1] Financial Performance - The company announced its financial results, indicating a focus on technological advancements in PCBs [1]

Core Insights - Small-cap stocks present lucrative investment opportunities due to frequent mispricings resulting from limited analyst coverage [1] - The focus is on identifying long-term winners among small-cap stocks, with two recommended stocks and one to avoid [2] Company Analysis The Toro Company (TTC) - Market Cap: $7.20 billion - Current share price is $73.01, trading at a forward P/E of 16.1x [3][5] - The company has historical significance, having ceased production during World War II to support the war effort [3] TTM Technologies (TTMI) - Market Cap: $7.04 billion - Operates as one of the largest printed circuit board manufacturers globally, serving various industries including aerospace and telecommunications [6] - Current share price is $66.25, trading at a forward P/E of 24.7x [8] Skyward Specialty Insurance (SKWD) - Market Cap: $1.85 billion - Experienced a 2.4% annual sales decline over the last two years, indicating significant end-market challenges [9] - Free cash flow margin decreased by 5.6 percentage points over the past five years, suggesting increased capital intensity due to rising competition [9] - Despite challenges, the company achieved a 10.5% annual revenue growth over the last two years and projects 11.2% revenue growth for the next 12 months [10] - Earnings per share grew by 32.4% annually over the last two years, significantly outperforming peers [10] - Founded in 2006, the company provides specialized insurance solutions for underserved markets [11]

Core Insights - TTM Technologies, Inc. will exhibit at Electronica India 2025, showcasing advancements in PCB technologies and innovative solutions for the electronics industry [1][2][3] Company Overview - TTM Technologies is a leading global manufacturer of technology solutions, including mission systems, RF components, RF microwave/microelectronic assemblies, and advanced printed circuit boards [4] - The company emphasizes time-to-market, enabling customers to shorten product development cycles [4] Industry Engagement - The participation in Electronica India 2025 highlights the importance of the Indian market and the rapidly advancing electronics industry [3] - TTM aims to collaborate with industry leaders and demonstrate how its technologies can support innovations across various sectors, including data center computing, networking communications, medical, industrial, and aerospace [3]

Core Viewpoint - TTM Technologies, Inc. reported strong financial results for the first quarter of 2025, with significant year-over-year growth in net sales and net income, driven by demand in key markets such as Aerospace and Defense, Data Center Computing, and Networking, particularly influenced by generative AI [1][5]. Financial Performance - Net sales for Q1 2025 were $648.7 million, a 14% increase from $570.1 million in Q1 2024 [3]. - GAAP operating income for Q1 2025 was $50.3 million, compared to $17.1 million in Q1 2024 [3]. - GAAP net income for Q1 2025 was $32.2 million, or $0.31 per diluted share, up from $10.5 million, or $0.10 per diluted share in Q1 2024 [3]. - Non-GAAP net income for Q1 2025 was $52.4 million, or $0.50 per diluted share, compared to $29.1 million, or $0.28 per diluted share in Q1 2024 [4]. - Adjusted EBITDA for Q1 2025 was $99.5 million, representing 15.3% of sales, compared to $70.5 million, or 12.4% of sales in Q1 2024 [4]. Business Outlook - For Q2 2025, TTM estimates revenues to be in the range of $650 million to $690 million, with non-GAAP net income projected between $0.49 and $0.55 per diluted share [6]. Market Segmentation - In Q1 2025, the end market breakdown was as follows: Aerospace and Defense (47%), Automotive (11%), Data Center Computing (21%), Medical/Industrial/Instrumentation (13%), and Networking (8%) [20]. Operational Metrics - The company reported a book-to-bill ratio of 1.10 for Q1 2025, indicating a healthy order intake relative to sales [8]. - The Aerospace and Defense program backlog stood at $1.55 billion [8].