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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) reported strong financial results for Q2 2022, with net sales of $625.6 million, up from $567.4 million year-over-year. GAAP net income was $27.8 million ($0.27 per diluted share), slightly lower than $28.3 million in Q2 2021. However, non-GAAP net income rose to $55.3 million ($0.54 per diluted share), exceeding the previous year's $40.0 million. The company completed the acquisition of Telephonics and commenced a manufacturing facility in Malaysia, enhancing growth in the Aerospace and Defense market. TTM anticipates Q3 revenue between $655 million and $695 million.
TTM Technologies (NASDAQ: TTMI) has published its 2022 Corporate Social Responsibility report, emphasizing its commitment to environmental, social, and governance initiatives. The report outlines the social contributions made by employees in North America and China over the past year. CEO Tom Edman expressed satisfaction with the company's progress in ESG performance and the support from the Board of Directors and employees. The full report is available for download online, highlighting TTM's focus on corporate responsibility and community impact.
Griffon Corporation (NYSE:GFF) reported a strong fiscal third quarter ending June 30, 2022, with revenue reaching $768.2 million, up 31% from $584.2 million last year. Adjusted income from continuing operations hit a record $66.5 million ($1.23 per share), compared to $20.8 million ($0.39 per share) in the prior year. The company initiated a review of strategic alternatives, including a potential sale. Griffon also prepaid $300 million of its Term Loan B credit facility and declared a special dividend of $2.00 per share in July 2022, contributing to total dividends of $2.36 per share for the fiscal year.
TTM Technologies, Inc. (NASDAQ:TTMI) will host a conference call on August 3, 2022, at 4:30 p.m. ET to review its second quarter fiscal year 2022 performance. The call will be accessible by phone and live-streamed on the company's website, with a recording available for one week afterward. Prior to the call, TTM Technologies will release its second-quarter financial results after market close on the same day. TTM is recognized for its advanced printed circuit boards and assemblies, emphasizing rapid manufacturing and efficient time-to-market services.
TTM Technologies, Inc. (NASDAQ: TTMI) has introduced new high power density resistors within its RF & Specialty Components unit. The new products handle RF power from 100 to 150 Watts and include the models CW, A100N50X4A, E125N50X4, and E150N50X4. These resistors are designed for efficiency and reliability, targeting applications in industrial and test measurement markets. Available through TTM or its distributors, these advancements expand TTM's portfolio of termination resistors and attenuators, further solidifying its presence in the RF market.
TTM Technologies (NASDAQ: TTMI) has acquired Telephonics Corporation for approximately $330 million in cash, enhancing its capabilities in the Aerospace and Defense market. This strategic acquisition allows TTM to expand its product offerings and improve its position in surveillance and communications. The deal is expected to generate approximately $12 million in annual cost synergies by the end of 2024 and be immediately accretive to non-GAAP EPS. TTM plans to finance the acquisition using its substantial cash reserves of $519.1 million as of Q1 2022.
Griffon Corporation (NYSE:GFF) has successfully completed the sale of Telephonics Corporation to TTM Technologies, Inc. (NASDAQ:TTMI) for $330 million in cash. This significant transaction aims to unlock immediate value for Griffon's shareholders while enhancing the company's balance sheet. Ronald J. Kramer, Chairman and CEO of Griffon, expressed optimism about the future of Telephonics under TTM's ownership, highlighting its long-standing history with Griffon. Lazard and J.P. Morgan acted as financial advisors for the respective companies involved.
SANTA ANA, Calif., May 19, 2022 – TTM Technologies (NASDAQ:TTMI) announced its management team will attend several upcoming investor conferences. Key events include the Barclays High Yield Bond Conference on May 24, the J.P. Morgan Technology Conference on May 25 at 9:20 am ET, the virtual Craig-Hallum Conference on June 1, and the UBS Global Industrials Conference on June 7 at 4:20 pm ET. The Baird Conference is set for June 8 at 3:10 pm ET, followed by the Stifel Conference on June 9 at 3:00 pm ET. All presentations will be webcast live on TTM's website.
TTM Technologies, Inc. (TTMI) reported a strong first quarter for fiscal 2022, with net sales of $581.3 million, up from $526.4 million in the same period last year. GAAP net income reached $17.2 million or $0.17 per diluted share, a turnaround from a net loss of $3.2 million in Q1 2021. The company also announced plans for a greenfield production facility in Malaysia and an agreement to acquire Telephonics Corporation, enhancing its capabilities in aerospace and defense. The outlook for Q2 2022 revenue is projected between $580 million and $620 million.
Griffon Corporation (NYSE:GFF) reported second quarter fiscal 2022 results with revenue reaching $779.6 million, up 36% year-over-year. Excluding the Hunter acquisition, revenue increased 23% to $708.8 million. Income from continuing operations surged to $58.6 million, or $1.10 per share. Adjusted EBITDA also rose significantly to $139.6 million, a 113% increase from the prior year. The Company announced plans to sell Telephonics to TTM Technologies for $330 million. Future investments are expected to yield annual savings of $25 million. The Company maintains a robust cash position with $122.3 million in cash and a net debt of $1.84 billion.
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