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TTM Technologies Inc (NASDAQ: TTMI) is a leading global manufacturer specializing in advanced technology solutions. Based in the United States, the company operates with a significant global footprint, employing over 30,000 individuals across various factories and offices worldwide. TTM stands for 'Time-To-Market,' reflecting the company's commitment to providing time-critical, one-stop manufacturing services that enable customers to bring new products to market more swiftly.
TTM Technologies focuses on manufacturing printed circuit boards (PCBs), which are essential components in a wide array of products, from cutting-edge smartphones to advanced radar systems used in military aircraft and ships. The company operates in two main segments: Printed Circuit Boards and RF&S Components. The Printed Circuit Boards segment, which generates the majority of TTM's revenue, offers a diverse range of PCBs, along with layout design, simulation, and testing services. The RF&S Components segment specializes in radio frequency (RF) components, RF microwave, and microelectronic assemblies, supporting industries such as aerospace, telecommunications, and medical fields.
TTM Technologies has achieved notable success in various markets, including networking, telecommunications, computing, aerospace, and medical fields. The company's recent achievements include the groundbreaking for a new high-tech manufacturing facility in Syracuse, New York, which is expected to bring an estimated 400 new jobs and support the domestic production of ultra-high density interconnect (HDI) PCBs, crucial for national security requirements.
Financially, TTM reported net sales of $572.6 million for the third quarter of 2023. Despite a slight decrease from previous years, the company exhibited strong performance in non-GAAP measures, with net income of $44.9 million. Additionally, TTM has demonstrated a solid balance sheet, enabling stock repurchase while maintaining a net leverage ratio of 1.5x. For the fourth quarter of 2023, the company projects revenues between $550 million and $590 million.
In terms of partnerships and projects, TTM continues to collaborate closely with New York State to fortify its position as a premier technology hub. The company's investment in the Syracuse facility aligns with New York's emphasis on bolstering the U.S. electronics sector, supporting federal initiatives like the Tech Hub designation for the Buffalo-Rochester-Syracuse area.
Looking ahead, TTM Technologies remains focused on expanding its capabilities and market presence, leveraging its robust infrastructure and skilled workforce to drive innovation and growth in the technology manufacturing sector. With ongoing projects and a commitment to sustainability and efficiency, TTM is poised to remain a key player in the global technology landscape.
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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