Shares of Anaheim printed circuit board maker DDi Corp. jumped in afterhours trading Wednesday after the company reversed a loss in the first quarter.
The stock rose nearly 5% in afterhours New York Stock Exchange trading on a recent market value of about $112 million.
DDi posted sales of $47 million in the first quarter, up 9% from a year ago.
DDi got out of the red this quarter, posting $718,000 in profits, versus a $1 million loss in the year-ago period.
No analysts are currently covering the stock, which is off about 8% since the start of the year.
DDi makes circuits boards that later are assembled with chips. The boards go inside equipment for aerospace, military, industrial, medical, networking and communication uses.
The company has been forging ahead with a turnaround.
It’s focusing on what it calls “quick-turn” work, or manufacturing jobs that are done out in a few days,some even as few as 24 hours,for which it can get a premium.
The company has seen quite a fall from years ago.
In 2000, the company had a market value of $1.7 billion at the height of the technology boom.
By late 2002, the tech meltdown caught up to board makers and took a harsh toll on DDi.
The company’s shares lost 99% of their value from 2000 to 2002.
Debt from a trio of acquisitions proved crushing. After heavy layoffs, office closures and other cuts, DDi filed for bankruptcy reorganization in 2003.
This year it’s wrapping up an overhaul that began when Mikel Williams, the company’s former chief financial officer, became chief executive after longtime leader Bruce McMaster stepped down in 2005.
