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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, Inc. (NASDAQ:TTMI) is set to host a conference call on May 3, 2023, at 4:30 p.m. ET to discuss its first quarter fiscal year 2023 performance.
The company will also release its financial results after the market closes on the same day. Access to the conference call will be available through a registration link and can be simulcast on the company's website, remaining accessible for one week post-event.
TTM Technologies is recognized as a leading global manufacturer of technology solutions, including engineered systems and advanced PCBs, emphasizing time-to-market in its service delivery.
TTM Technologies, Inc. (NASDAQ: TTMI) announced a definitive agreement to sell its Shanghai Backplane Assembly (BPA) facility to DBG Holdings Limited for approximately $11.8 million, expected to close by the end of Q1 2023. The Shanghai BPA, which generated $44.7 million in revenues but minimal operating income in 2022, aligns with TTM's strategy to reshape its core portfolio for long-term profitability. The divestiture allows TTM to focus on differentiated capabilities in sectors such as Aerospace & Defense, automotive, and medical markets, while ensuring support for the Shanghai BPA employees and customers until the closing date.
TTM Technologies, Inc. (NASDAQ: TTMI) announced its largest product launch to date, enhancing its Radio Frequency and Specialty Components (RF&S) portfolio with 22 new products, including narrow and broadband couplers and balun transformers. This release aims to meet the growing demands of next-generation 5G transceivers and power amplifiers, focusing on high performance and cost-efficiency. The products feature the reliability of the Xinger® brand, reinforcing TTM's commitment to innovation and market leadership in RF components. Customers can purchase these products directly from TTM or authorized distributors.
TTM Technologies, Inc. (NASDAQ: TTMI) announced plans to close three manufacturing facilities in Anaheim, Santa Clara, and Hong Kong to enhance operational efficiency and profitability. The consolidation will result in the reduction of approximately 750 employees, about 5% of TTM's global workforce. The company expects total costs related to this restructuring between $22 million and $28 million, with anticipated annual operating profit improvements of $22 million to $27 million. CEO Tom Edman cited a softening demand for commercial business amidst strong aerospace and defense demand as a driving factor for this decision.
TTM Technologies, Inc. (NASDAQ: TTMI) reported a net sales of $617.2 million for Q4 2022, a rise from $598.1 million in Q4 2021. GAAP net income was $6.0 million ($0.06 per diluted share), decreased from $8.4 million in the prior year. The company noted a significant tax reserve impacting earnings. Non-GAAP net income rose to $42.7 million ($0.41 per diluted share) from $36.2 million in Q4 2021, with adjusted EBITDA at $81.6 million. For fiscal 2022, total revenues grew by 11.0% to $2.50 billion. Despite strong performance in Aerospace and Defense, TTM anticipates Q1 2023 revenue between $550 million and $590 million, citing declines in commercial bookings.
TTM Technologies, Inc. (NASDAQ: TTMI) announced on February 2, 2023, that it will replace its Special Security Agreement (SSA) with a Special Board Resolution (SBR) pending confirmation from the Defense Counterintelligence and Security Agency (DCSA). This change comes due to a significant reduction in foreign ownership of TTM, alongside the retirement of its only non-U.S. citizen board member. The SBR maintains existing policies to mitigate risks to U.S. national security and mandates at least three board members with National Security Clearance. TTM expects this transition will have no material impact on its cost structure.
TTM Technologies, Inc. (NASDAQ:TTMI) will announce its fourth quarter and fiscal year 2022 financial results on February 8, 2023, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss the results. Interested participants can register for the call through a provided link and will receive dial-in information. The call will also be available via the company’s website, remaining accessible for one week post-event. TTM Technologies is recognized for its global manufacturing of technology solutions, including engineered systems and advanced PCBs.
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