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Overview of TTM Technologies Inc
TTM Technologies Inc (TTMI) is a global manufacturer of advanced technology solutions with an unwavering focus on printed circuit boards (PCBs) and radio frequency (RF) components. The company provides high-technology manufacturing services that serve as the electronic backbone for a wide variety of products, ranging from sophisticated smart devices and computerized vehicles to critical aerospace defense systems and modern communication networks. With deep expertise in industrial-grade PCBs and RF/microelectronic assemblies, TTM ensures that products across telecommunications, computing, aerospace, and medical sectors perform reliably and efficiently.
Core Business Areas and Services
TTM organizes its operations into two primary segments: the Printed Circuit Boards segment and the RF & S Components segment. The printed circuit boards segment is at the heart of the company's revenue, offering not only a variety of technologically advanced PCBs but also essential value-added services such as layout design, simulation, and rigorous testing procedures. The RF & S Components segment encompasses specialized radio frequency components, microwave assemblies, and microelectronic solutions that cater to critical applications in both commercial and defense sectors.
Industry Impact and Competitive Position
At its core, TTM Technologies stands as a vital partner in the supply chains of industries that demand fast time-to-market solutions combined with uncompromised quality. Its integrated manufacturing processes and one-stop service model are designed to reduce product development cycles, enabling companies to bring innovative products to market quickly. As a firm immersed in high-performance sectors such as aerospace, defense, and data center computing, TTM maintains a strategic competitive edge through operational excellence and a robust global footprint that spans manufacturing facilities and corporate offices.
Operational Excellence and Technological Prowess
TTM Technologies is recognized for its ability to deliver custom technology solutions that cater to complex, time-critical demands. The company emphasizes engineering precision and process optimization, which are critical to ensuring the superior quality of its PCBs and RF components. Through continuous investment in cutting-edge technologies and manufacturing innovations, TTM supports advanced applications such as next-generation telecommunication networks and sophisticated radar and mission systems used in military aircraft and naval vessels.
Applications and Market Reach
The expansive utility of TTM’s products spans several high-growth market segments. In the telecommunications arena, the company's PCBs form the circuit foundation for modern smartphones and network infrastructure. In the aerospace and defense sectors, TTM’s RF components enable robust and secure communication systems essential for defense and surveillance. Moreover, the contributions of TTM extend to computing, where precision-engineered PCBs and RF assemblies underpin reliable performance in data centers and advanced computing systems, as well as medical devices that demand stringent quality and reliability standards.
Commitment to Quality and Customer Collaboration
TTM Technologies builds its reputation on fundamental values such as honesty, integrity, performance, and clear communication. By fostering a collaborative culture across various disciplines—including manufacturing, engineering, quality assurance, supply chain management, and corporate services—TTM ensures that its comprehensive solutions are both innovative and reliable. This customer-first approach solidifies TTM's role as an essential component of the broader technology ecosystem.
Strategic Market Position and Value Proposition
Positioned within a dynamic and competitive industry landscape, TTM Technologies leverages its unparalleled technical expertise, global manufacturing capabilities, and rapid production cycles to meet the demands of an increasingly interconnected world. Its value proposition is defined by the ability to deliver time-critical, high-quality technology solutions that empower companies to innovate faster while maintaining high standards of performance and operational efficiency.
Conclusion
In summary, TTM Technologies Inc is a highly proficient manufacturer of printed circuit boards and RF components that serves a diverse array of industries. With its advanced manufacturing processes, extensive range of value-added services, and commitment to operational excellence, TTM remains a central player in the global technology supply chain. The company continuously demonstrates its expertise and reliability, ensuring that its customers receive high-quality products designed for the most demanding applications.
TTM Technologies (NASDAQ: TTMI) has announced a planned succession change in its Chief Operating Officer position. James P. Walsh will assume the role of COO beginning July 1, 2025, while current COO Philip Titterton will transition to an advisory position focusing on special operations projects.
Walsh, currently serving as Senior Vice President of Operations (North America) & Global EHSS&S, brings over 25 years of operations management experience. He joined TTM in 2019 and has held expanding responsibilities since then. Walsh holds degrees from Santa Clara University, Stanford University, and UCLA.
Titterton concludes his tenure after 33 years of service to TTM, where he established standards for operational leadership and promoted the company's cultural values of integrity, teamwork, clear communications, and performance excellence.
TTM Technologies (TTMI) reported strong Q4 2024 results with net sales of $651.0 million, up from $569.0 million in Q4 2023. The company posted GAAP net income of $5.2 million ($0.05 per share) and non-GAAP net income of $62.8 million ($0.60 per share).
Full-year 2024 revenues increased 9.4% to $2.4 billion, with GAAP net income of $56.3 million ($0.54 per share) and non-GAAP net income of $178.4 million ($1.71 per share). The company achieved record A&D program backlog of $1.56 billion and Data Center Computing revenues reached 22% of total company revenues.
For Q1 2025, TTM forecasts revenues between $600-640 million and non-GAAP earnings of $0.37-0.43 per share. The company generated strong cash flow from operations at $236.9 million in 2024, enabling debt refinancing and $34.5 million in share buybacks.
TTM Technologies (NASDAQ:TTMI) has announced it will host a conference call on Wednesday, February 5, 2025, at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss its fourth quarter and fiscal year 2024 performance.
The company will release its Q4 and FY2024 financial results after market close on the same day. Participants can access the call through a registration link that will provide dial-in information and a unique PIN. Additionally, the conference call will be simulcast on the company's website and remain accessible for one week following the live event.
TTM Technologies (NASDAQ: TTMI), a global leader in technology solutions, has awarded the 2024 TTM Chair of Community Service Award to the TTM Zhongshan Volunteers Association. This award honors their outstanding commitment to community service and humanitarian efforts.
As part of the recognition, TTM will contribute $20,000 to the Zhongshan Xiaolan Qizhi Special Education and Training Center, which supports special needs children and their families in Zhongshan, China. The TTM Zhongshan Volunteers Association, established in 2015, consists of over 200 employees from TTM's Zhongshan facility. This group has dedicated over 35,000 volunteer hours to various causes, including aiding orphaned children, the elderly, individuals with disabilities, poverty alleviation, and environmental improvements.
The association has been acknowledged as an Advanced Volunteer Service Team in Zhongshan City. Their partnership with the Qizhi Special Education and Training Center includes providing teaching aids and organizing activities for children with mental disabilities.
The Chair of Community Service Award, created by TTM's Board of Directors and Executive Team in honor of retired Board Chairman Robert Klatell, celebrates employees who significantly impact their communities. Shawn Powers, Executive Vice President and Chief Human Resources Officer, expressed pride in the Zhongshan employees' dedication to service, emphasizing their embodiment of TTM's spirit of global community engagement.
TTM Technologies (NASDAQ: TTMI) has announced its management team's participation in three upcoming investor conferences in early 2025. The company will present at the Needham Growth Conference on January 14th at 8:45am ET at the Lotte New York Palace Hotel. Additionally, TTM will attend the Citi Global Industrial Tech and Mobility Conference on February 20th at the Ritz Carlton South Beach and the J.P. Morgan Global Leveraged Finance Conference on February 25th at Loews Miami Beach Hotel. Presentation times for the latter two conferences will be posted on TTM's website once confirmed.
TTM Technologies (NASDAQ: TTMI) has expanded its RF&S product portfolio with 18 new components supporting telecom band n104 for 5.5G applications. The new product family includes balun transformers, hybrid couplers, power dividers, RF crossovers, and terminations, specifically designed for the 6.4 – 7.2 GHz band.
These components offer superior performance and cost-effectiveness while maintaining the industry-standard Xinger® brand reliability. The product specifications vary in size from 0603 (1.6mm x 0.8mm) to 1220 (5.8mm x 3.1mm), with power handling capabilities ranging from 1W to 40W average.
TTM Technologies (NASDAQ: TTMI), a global manufacturer of technology solutions, announces its participation in the 2024 International Electronics Circuit Exhibition in Shenzhen, China, from December 4-6, 2024. The company will exhibit at Hall 7, Booth #7D20 in the Shenzhen World Exhibition & Convention Center.
Under the theme 'AI Powers the Future', TTM will conduct technical seminars featuring innovative engineering and product solutions. The company introduces innovation exchange sessions covering topics like '112 Gbps and Beyond' and 'PCBs for High Voltage Applications'. The event serves as a platform for TTM to showcase its latest innovations and engage with customers and partners in the electronics industry.
TTM Technologies (NASDAQ: TTMI) has announced its management team's participation in three upcoming investor conferences. The team will attend the Stifel Midwest 1x1 Conference on November 7th at Chicago's Waldorf-Astoria Hotel, the BofA Securities Leveraged Finance Conference on December 3rd in Boca Raton with a presentation at 2:50 PM ET, and the UBS Global Industrials & Transportation Conference on December 4th in Palm Beach, presenting at 9:30 AM ET.
TTM Technologies (NASDAQ: TTMI) reported Q3 2024 results with net sales of $616.5 million, up from $572.6 million in Q3 2023. The company posted GAAP net income of $14.3 million ($0.14 per diluted share) and non-GAAP net income of $42.7 million ($0.41 per diluted share). Operating performance was marked by strong cash flow from operations at $65.1 million (10.6% of sales) and a book-to-bill ratio of 1.20. The A&D program backlog reached a record $1.49 billion. For Q4 2024, TTM forecasts revenues between $610-650 million and non-GAAP earnings of $0.44-0.50 per diluted share.
TTM Technologies, Inc. (NASDAQ:TTMI) has announced its upcoming third quarter 2024 conference call, scheduled for Wednesday, October 30, at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time. The company will discuss its Q3 2024 performance during this call. Participants can access the conference by registering through a provided link, which will furnish dial-in information and a unique PIN.
Additionally, the call will be simulcast on TTM Technologies' website, accessible via a separate link. The webcast will remain available for one week after the live event. Importantly, TTM Technologies plans to release its Q3 2024 financial results after market close on October 30, 2024, prior to the conference call.
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