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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 been awarded Cisco's 2024 Supply Chain Security Champion award at Cisco's annual Supplier Appreciation Event. This prestigious recognition highlights TTM's commitment to securing Cisco's intellectual property and protecting its brand through robust security measures in their operations and supply chain.
Marco De Martin, SVP of Global Supplier Management at Cisco, emphasized the important role of suppliers in providing innovative technology for Cisco's customers. Doug Soder, EVP of TTM's Commercial Sector, expressed gratitude for the recognition, attributing it to the outstanding efforts of TTM's IT and Operations teams.
The event, marking its 33rd consecutive year, served as a platform for Cisco to share strategic priorities with its global supplier network and celebrate exceptional performances in FY24. TTM Technologies is a leading global manufacturer of technology solutions, including mission systems, RF components, RF microwave/microelectronic assemblies, and printed circuit boards.
TTM Technologies, Inc. (NASDAQ: TTMI) has unveiled two new Xinger® Ultra Wide Band Balun Transformers designed for efficient signal conversion. The XMB0220K1-50100G (0.18 – 1.9 GHz) and XMB0465Z1-50100G (0.4 – 6.5 GHz) are ultra-compact, low-profile broadband balanced to unbalanced transformers suitable for diverse end markets, including Test and Measurement, Telecom, COTS Military and Aerospace, 5G, LTE, and Aero Radar.
These transformers offer Common-Mode Rejection Ratio, enabling single-ended signals to be applied to differential ports on various devices. The XMB0220K1-50100G is ideal for Test and Measurement, Telecom, and COTS Mil-Aero applications, while the XMB0465Z1-50100G is suitable for high-level integrations in 5G, LTE, Aero Radar, and L, S & C-Band markets.
Both products are now available for sampling through ttm.com and will be available for purchase later this fall.
TTM Technologies (NASDAQ: TTMI) has announced its participation in three upcoming investor conferences. The company's management team will attend:
- The Needham Virtual Industrial Technology, Robotics, and Clean Tech 1x1 Conference on August 19th-20th
- The Jefferies Semiconductor, IT Hardware and Communications Technology Conference on August 27th at the Four Seasons Hotel in Chicago
- The Jefferies Industrials Conference on September 4th at the Westin Times Square Hotel in New York, where they will give a presentation at 1:55pm Eastern Time
These conferences provide opportunities for TTM Technologies to engage with investors and showcase their latest developments in the technology and industrial sectors.
TTM Technologies (NASDAQ: TTMI) reported strong Q2 2024 results, with net sales of $605.1 million, up from $546.5 million in Q2 2023. The company posted GAAP net income of $26.4 million ($0.25 per diluted share) and non-GAAP net income of $40.1 million ($0.39 per diluted share). Cash flow from operations was $41.9 million.
Key highlights include:
- Repurchased 1.39 million shares for $25.1 million
- Anticipated refinancing of $346.5 million senior secured term loan at SOFR + 2.25%
- Strong demand in Aerospace and Defense and Data Center Computing markets
- Q3 2024 revenue guidance: $580-$620 million
- Q3 2024 non-GAAP EPS guidance: $0.37-$0.43
TTM Technologies will host a conference call on July 31, 2024, at 1:00 p.m. Eastern Time to discuss their Q2 2024 performance. The call will be accessible via a registration link provided by the company. Participants will receive dial-in information and a unique PIN upon registration. The webcast will also be available on TTM Technologies' website and remain accessible for one week post-event. The company will release its Q2 2024 financial results before the market opens on the same day.
TTM Technologies has launched its new Xinger® high-performance 50W directional and hybrid couplers, specifically designed for X-Band commercial-off-the-shelf military and aerospace applications. These compact 5mm x 3.2mm components operate within the 8-12 GHz frequency band and are ideal for tasks such as power and frequency detection, VSWR monitoring, and power splitting. With a peak to average ratio of 12dB and an ENIG finish, these couplers are built for durability in harsh environments. Samples are currently available, and the products will be available for purchase later this summer.
TTM Technologies, Inc. appointed Wajid Ali to the Board of Directors, replacing outgoing director Dr. Dov S. Zakheim. Mr. Ali, a seasoned executive with over 20 years of experience in the technology industry, brings extensive financial expertise from companies like Lumentum Holdings Inc. and Synaptics Incorporated. The Board now comprises nine directors, with eight meeting NASDAQ's independence criteria.
TTM Technologies, Inc. (NASDAQ: TTMI) is participating in upcoming investor conferences including Barclays Leveraged Finance Conference, B. Riley Institutional Investor Conference, and Stifel Cross Sector Insight Conference to present to investors.
TTM Technologies, Inc. reported strong financial results for the first quarter of 2024, with net sales of $570.1 million. GAAP net income was $10.5 million, and non-GAAP net income was $32.8 million. The company repurchased 600,000 shares of common stock. TTM's business outlook for the second quarter of 2024 is positive, with estimated revenues between $560 million to $600 million.
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