Welcome to our dedicated page for Ttm Technologies news (Ticker: TTMI), a resource for investors and traders seeking the latest updates and insights on Ttm Technologies stock.
TTM Technologies, Inc. reports developments for a technology manufacturing business that supplies mission systems, radio frequency components, RF microwave and microelectronic assemblies, and advanced interconnect products, including printed circuit boards and substrates. Company news commonly covers quarterly results, book-to-bill trends, aerospace and defense program activity, data center and networking demand, and customer awards for radar-related assemblies and electronic hardware.
Updates also include investor presentations, conference-call schedules, business outlook commentary, and board governance changes tied to the company's public-company reporting calendar.
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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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