Ttm Technologies Inc Stock Price, News & Analysis

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.

TTM Technologies, Inc. (NASDAQ: TTMI) announced its participation in several upcoming investor conferences. The conferences include the Needham Growth Conference on January 10, 2023; Cowen Aerospace/Defense & Industrials Conference on February 16, 2023; J.P. Morgan High Yield & Leveraged Finance Conference on March 7, 2023; and J.P. Morgan Industrials Conference on March 16, 2023. Presentations will be webcast live on TTM's website, with replays available for a limited time.

TTM is a global leader in manufacturing technology solutions, including RF components and printed circuit boards.

TTM Technologies, Inc. (TTMI) has entered a multi-year agreement with Raytheon Missiles & Defense to supply radio frequency assemblies and printed circuit boards for the SPY-6 radar systems, potentially worth $500 million over five years. This agreement aims to enhance supply chain efficiencies and strengthen the partnership between TTM and Raytheon, aligning with the U.S. Navy's modernization efforts. The SPY-6 radar will provide advanced capabilities to the Navy's fleet, with full operational status expected by 2024.

TTM Technologies, Inc. (NASDAQ: TTMI), a prominent global manufacturer in technology solutions, announced participation in two upcoming investor conferences. The first is the Baird Global Industrial Conference on November 8 at the Ritz Carlton Hotel in Chicago, featuring a presentation at 1:10 PM CT. The second is the Bank of America Leveraged Finance/Credit Conference on November 29 at Boca Raton Resort, scheduled for 1:30 PM ET. Live webcasts of the presentations will be available on TTM's website, with replays accessible for a limited time.