Circuit Board Blue

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What: Shares of TTM Technologies (NASDAQ:TTMI) surged as much as 17% higher in Thursday's trading action, boosted by a strong second-quarter report.

So what: In the second quarter, TTM saw sales rising 35% year over year to $601.8 million. Adjusted earnings nearly doubled, landing at $0.28 per diluted share. The top-line figure was exactly in line with analyst expectations, but earnings came as a strongly positive surprise. Here, Wall Street would have settled for $0.18 per share, or hardly any annual growth at all.

Of course, year-over-year comparisons are tricky due to the game-changing merger with Viasystems, which closed halfway into the second quarter of 2015. The two companies entered the merger with trailing revenue streams of roughly equal size.

Now what: CEO Tom Edman pointed out that TTM's business mix shifted in unpredictable ways during the second quarter -- which isn't always a bad thing.

"A rebound in the cellular and communications end markets more than offset modest declines in the automotive and computing end markets," Edman said in a prepared statement. "Our aerospace and defense end market hit a quarterly record in revenues."

Looking ahead, TTM's management expects third-quarter sales of approximately $640 million and earnings near $0.33 per share. Hitting those targets would amount to a 2% year-over-year sales drop but 38% higher earnings for the quick-turn circuit board manufacturer.

Anders Bylund has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.