TTM TECHNOLOGIES INC false 0001116942 0001116942 2024-07-31 2024-07-31

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2024

 

 

 

TTM TECHNOLOGIES, INC.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware   000-31285   91-1033443

(State of

Incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

 

200 East Sandpointe, Suite 400, Santa Ana, CA   92707
(Address of principal executive offices)   (Zip Code)

(714) 327-3000

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $0.001 par value   TTMI   Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02.

Results of Operations and Financial Condition

On July 31, 2024, TTM Technologies, Inc. (the “Registrant”) issued a press release announcing results for its second quarter of fiscal year 2024, which ended on July 1, 2024, and guidance for its third quarter of fiscal year 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

As previously announced, the Registrant will host a conference call on Wednesday, July 31, 2024, at 1:00 p.m. Eastern Time/10:00 a.m. Pacific Time to discuss the results for its second quarter of fiscal year 2024 and the outlook for its third quarter of fiscal year 2024. Access to the conference call is available by registering at https://register.vevent.com/register/BI78db9e5b29874f16a2e4386db3434c79. Registering participants will receive dial in information and a unique PIN to join the call. Participants can register at any time up to the start of the conference call. The conference call will also be webcast on the Registrant’s website at https://edge.media-server.com/mmc/p/m6ystk3y/.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Item 2.02 and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly provided by specific reference in such filing.

 

Item 9.01.

Financial Statements and Exhibits

 

Exhibit
Number		   

Description

99.1    Press release regarding earnings results, dated July 31, 2024
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    TTM TECHNOLOGIES, INC.
Date: July 31, 2024      

/s/ Daniel J. Weber

    By:   Daniel J. Weber
      Executive Vice President, Chief Legal Officer & Secretary

Exhibit 99.1

 

     

Contact:

Sameer Desai,

      Vice President, Corporate Development & Investor Relations
      Sameer.desai@ttmtech.com
      714-327-3050

TTM Technologies, Inc. Reports Second Quarter 2024 Results

Santa Ana, CA – July 31, 2024 – TTM Technologies, Inc. (NASDAQ: TTMI), a leading global manufacturer of technology solutions including mission systems, radio frequency (“RF”) components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards (“PCB”), today reported results for the second quarter 2024, which ended on July 1, 2024.

Second Quarter 2024 Highlights

 

  •  

Net sales were $605.1 million

 

  •  

GAAP net income of $26.4 million, or $0.25 per diluted share

 

  •  

Non-GAAP net income was $40.1 million, or $0.39 per diluted share

 

  •  

Cash flow from operations was $41.9 million

 

  •  

Repurchased 1.39 million shares of common stock for $25.1 million at an average price of $18.09 per share

 

  •  

Anticipate close of the refinancing of $346.5 million of a senior secured term loan at an interest rate of SOFR + 2.25%

Second Quarter 2024 GAAP Financial Results

Net sales for the second quarter of 2024 were $605.1 million, compared to $546.5 million in the second quarter of 2023.

GAAP operating income for the second quarter of 2024 was $39.0 million compared to GAAP operating income for the second quarter of 2023 of $21.4 million.

GAAP net income for the second quarter of 2024 was $26.4 million, or $0.25 per diluted share, compared to GAAP net income of $6.8 million, or $0.07 per diluted share in the second quarter of 2023.

Second Quarter 2024 Non-GAAP Financial Results

On a non-GAAP basis, net income for the second quarter of 2024 was $40.1 million, or $0.39 per diluted share. This compares to non-GAAP net income of $33.0 million, or $0.32 per diluted share, for the second quarter of 2023.

Adjusted EBITDA in the second quarter of 2024 was $84.6 million, or 14.0% of sales compared to adjusted EBITDA of $74.7 million, or 13.7% of sales for the second quarter of 2023.

“TTM reported Non-GAAP EPS that was above the guided range and demonstrated solid year on year growth due to higher revenues and improved operational execution. Revenues were above the guided range, representing the second consecutive quarter of year on year growth due to demand strength in our Aerospace and Defense and Data Center Computing end markets, the latter being driven by generative AI,” said Tom Edman, CEO of TTM. “In addition, cash flow from operations was a healthy $41.9 million enabling us to repurchase stock while maintaining a solid balance sheet with a net leverage ratio of 1.4x. Finally, we refinanced our Term Loan B, reducing interest expense going forward,” concluded Mr. Edman.

Refinancing of Term Loan B

We anticipate that on August 1, 2024, we will close the refinancing of $346.5 million of a senior secured term loan (“New Term Loan Facility”) at an interest rate of SOFR + 2.25%, 50 basis points lower than our previous Term B Loans issued in May 2023. Upon closing, the new Term B Loans will be issued at par

     

Contact:

Sameer Desai,

      Vice President, Corporate Development & Investor Relations
      Sameer.desai@ttmtech.com
      714-327-3050

 

and maintain the same maturity of May 2030. Once issued, this debt will amend and restate TTM’s previous senior secured term loan facility. We anticipate using the proceeds from the New Term Loan Facility to refinance $346.5 million of such outstanding indebtedness. We have used cash on hand to pay fees and expenses of approximately $1 million related to the refinancing activity. Once finalized, the new financing is expected to generate annual interest savings of approximately $1.7 million.

Business Outlook

For the third quarter of 2024, TTM estimates that revenues will be in the range of $580 million to $620 million, and non-GAAP net income will be in the range of $0.37 to $0.43 per diluted share.

With respect to the Company’s outlook for non-GAAP net income per diluted share, we are unable to predict with reasonable certainty or without unreasonable effort certain items that may affect a comparable measure calculated and presented in accordance with GAAP. Our expected non-GAAP net income per diluted share excludes primarily the future impact of restructuring actions, impairment charges, unusual gains and losses, and tax adjustments. These reconciling items are highly variable and difficult to predict due to various factors outside of management’s control and could have a material impact on our future period net income per diluted share calculated and presented in accordance with GAAP. Accordingly, a reconciliation of non-GAAP net income per diluted share to a comparable measure calculated and presented in accordance with GAAP has not been provided because the Company is unable to provide such reconciliation without unreasonable effort. For the same reasons, TTM is unable to address the probable significance of the information.

Live Webcast/Conference Call

TTM will host a conference call and webcast to discuss second quarter 2024 results and the third quarter 2024 outlook on Wednesday, July 31, 2024, at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). The conference call will include forward-looking statements.

Access to the conference call is available by clicking on the registration link TTM Technologies, Inc. second quarter 2024 conference call. Registering participants will receive dial in information and a unique PIN to join the call. Participants can register at any time up to the start of the conference call. The conference call will also be simulcast on the company’s website, and can be accessed by clicking on the link TTM Technologies Inc. second quarter 2024 webcast. The webcast will remain accessible for one week following the live event.

To Access a Replay of the Webcast

The replay of the webcast will remain accessible for one week following the live event on TTM’s website at TTM Technologies Inc. second quarter 2024 webcast.

About TTM

TTM Technologies, Inc. is a leading global manufacturer of technology solutions including mission systems, RF components/RF microwave/microelectronic assemblies, quick-turn and technologically advanced PCBs. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.

     

Contact:

Sameer Desai,

      Vice President, Corporate Development & Investor Relations
      Sameer.desai@ttmtech.com
      714-327-3050

 

Forward-Looking Statements

The preliminary financial results included in this press release represent the most current information available to management. The company’s actual results when disclosed in its Form 10-Q may differ from these preliminary results as a result of the completion of the company’s financial closing procedures, final adjustments, completion of the review by the company’s independent registered accounting firm, and other developments that may arise between now and the disclosure of the final results. This release contains forward-looking statements that relate to future events or performance. TTM cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect TTM’s current expectations, and TTM does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond TTM’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, general market and economic conditions, including interest rates, currency exchange rates, and consumer spending, demand for TTM’s products, market pressures on prices of TTM’s products, warranty claims, changes in product mix, contemplated significant capital expenditures and related financing requirements, TTM’s dependence upon a small number of customers, and other factors set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC.

About Our Non-GAAP Financial Measures

To supplement our consolidated condensed financial statements presented on a GAAP basis, this release includes information about TTM’s adjusted EBITDA, non-GAAP net income and non-GAAP earnings per share, all of which are non-GAAP financial measures. TTM presents non-GAAP financial information to enable investors to see TTM through the eyes of management and to provide better insight into TTM’s ongoing financial performance.

A material limitation associated with the use of the above non-GAAP financial measures is that they have no standardized measurement prescribed by GAAP and may not be comparable to similar non-GAAP financial measures used by other companies. TTM compensates for these limitations by providing full disclosure of each non-GAAP financial measure and reconciliations below to the most directly comparable GAAP financial measure. However, the non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

- Tables Follow -

TTM TECHNOLOGIES, INC.

Selected Unaudited Financial Information

(In thousands, except per share data)

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

 

     Second Quarter     First Two Quarters  
     2024     2023     2024     2023  

Net sales

    $ 605,137     $ 546,509     $ 1,175,250     $ 1,090,946  

Cost of goods sold

      487,910       448,002       954,304       906,316  
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

      117,227       98,507       220,946       184,630  
  

 

 

    

 

 

    

 

 

    

 

 

  

Operating expenses:

         

Selling and marketing

      19,798       18,180       40,092       39,482  

General and administrative

      38,604       37,840       82,274       72,913  

Research and development

      8,547       6,424       15,868       13,509  

Amortization of definite-lived intangibles

      10,256       3,852       21,685       25,816  

Restructuring charges

      1,036       10,803       4,974       14,970  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total operating expenses

      78,241       77,099       164,893       166,690  
  

 

 

    

 

 

    

 

 

    

 

 

  

Operating income

      38,986       21,408       56,053       17,940  

Interest expense

      (12,219 )      (11,843 )      (24,543 )      (24,650 ) 

Loss on extinguishment of debt

      —        (1,154 )      —        (1,154 ) 

(Loss) gain on sale of subsidiary

      —        (69 )      —        1,270  

Other, net

      3,765       5,068       13,091       6,266  
  

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

      30,532       13,410       44,601       (328 ) 

Income tax (provision) benefit

      (4,180 )      (6,586 )      (7,783 )      1,338  
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income

    $ 26,352     $ 6,824     $ 36,818     $ 1,010  
  

 

 

    

 

 

    

 

 

    

 

 

  

Earnings per share:

         

Basic

    $ 0.26     $ 0.07     $ 0.36     $ 0.01  

Diluted

      0.25       0.07       0.35       0.01  

Weighted-average shares used in computing per share amounts:

         

Basic

      101,234       102,759       101,593       102,570  

Diluted

      103,889       104,820       103,993       104,575  

Reconciliation of the denominator used to calculate basic earnings per share and diluted earnings per share:

 

      

Weighted-average shares outstanding

      101,234       102,759       101,593       102,570  

Dilutive effect of performance-based stock units, restricted stock units and stock options

      2,655       2,061       2,400       2,005  
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted shares

      103,889       104,820       103,993       104,575  
  

 

 

    

 

 

    

 

 

    

 

 

  

SELECTED BALANCE SHEET DATA

 

     July 1, 2024      January 1, 2024  

Cash and cash equivalents, including restricted cash

    $ 446,247      $ 450,208  

Accounts and notes receivable, net

      400,714        413,557  

Receivable from sale of SH E-MS property

      —         6,737  

Contract assets

      340,120        292,050  

Inventories

      216,906        213,075  

Total current assets

      1,452,631        1,429,687  

Property, plant and equipment, net

      838,243        807,667  

Operating lease right of use asset

      81,886        86,286  

Other non-current assets

      970,604        1,000,023  

Total assets

      3,343,364        3,323,663  

Short-term debt, including current portion of long-term debt

    $ 2,625      $ 3,500  

Accounts payable

      371,189        334,609  

Total current liabilities

      712,100        703,984  

Debt, net of discount

      913,428        914,336  

Total long-term liabilities

      1,102,365        1,108,640  

Total equity

      1,528,899        1,511,039  

Total liabilities and equity

      3,343,364        3,323,663  

SUPPLEMENTAL DATA

 

     Second Quarter     First Two Quarters  
     2024     2023     2024     2023  

Gross margin

      19.4 %      18.0 %      18.8 %      16.9 % 

Operating margin

      6.4 %      3.9 %      4.8 %      1.6 % 

End Market Breakdown:

         
     Second Quarter              
     2024     2023              

Aerospace and Defense

      45 %      47 %     

Automotive

      14 %      17 %     

Data Center Computing

      21 %      12 %     

Medical/Industrial/Instrumentation

      14 %      16 %     

Networking

      6 %      8 %     

Stock-based Compensation:

         
     Second Quarter              

Amount included in:

      2024       2023      

Cost of goods sold

    $ 1,941     $ 1,497      

Selling and marketing

      836       698      

General and administrative

      3,468       2,677      

Research and development

      335       249      
  

 

 

    

 

 

      

Total stock-based compensation expense

    $ 6,580     $ 5,121      
  

 

 

    

 

 

      

Operating Segment Data:

         
     Second Quarter              

Net sales:

      2024       2023      

PCB

    $ 596,107     $ 536,531      

RF&S Components

      9,030       9,978      
  

 

 

    

 

 

      

Total net sales

    $ 605,137     $ 546,509      
  

 

 

    

 

 

      

Operating segment income:

         

PCB

    $ 90,927     $ 58,479      

RF&S Components

      2,052       3,202      

Corporate & Other

      (41,402 )      (33,998 )     
  

 

 

    

 

 

      

Total operating segment income

      51,577       27,683      

Amortization of definite-lived intangibles

      (12,591 )      (6,275 )     
  

 

 

    

 

 

      

Total operating income

      38,986       21,408      

Total other expense

      (8,454 )      (7,998 )     
  

 

 

    

 

 

      

Income before income taxes

    $ 30,532     $ 13,410      
  

 

 

    

 

 

      

RECONCILIATIONS1

 

     Second Quarter     First Two Quarters  
     2024     2023     2024     2023  

Non-GAAP gross profit reconciliation2:

         

GAAP gross profit

    $ 117,227     $ 98,507     $ 220,946     $ 184,630  

Add back item:

         

Amortization of definite-lived intangibles

      2,335       2,423       4,671       8,231  

Stock-based compensation

      1,941       1,497       3,970       3,159  

Unrealized (gain) loss on commodity hedge

      (434 )      867       (1,186 )      (1,261 ) 

Purchase accounting related inventory markup

      —        164       —        327  

Other charges

      —        1,416       (162 )      2,649  
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP gross profit

    $ 121,069     $ 104,874     $ 228,239     $ 197,735  
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP gross margin

      20.0 %      19.2 %      19.4 %      18.1 % 

Non-GAAP operating income reconciliation3:

         

GAAP operating income

    $ 38,986     $ 21,408     $ 56,053     $ 17,940  

Add back items:

         

Amortization of definite-lived intangibles

      12,591       6,275       26,356       34,047  

Stock-based compensation

      6,580       5,121       13,367       10,361  

Gain on sale of property

      (14,420 )      (42 )      (7,973 )      (215 ) 

Unrealized (gain) loss on commodity hedge

      (434 )      867       (1,186 )      (1,261 ) 

Purchase accounting related inventory markup

      —        164       —        327  

Restructuring, acquisition-related and other charges

      11,220       12,297       8,599       18,241  
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP operating income

    $ 54,523     $ 46,090     $ 95,216     $ 79,440  
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP operating margin

      9.0 %      8.4 %      8.1 %      7.3 % 

Non-GAAP net income and EPS reconciliation4:

         

GAAP net income

    $ 26,352     $ 6,824     $ 36,818     $ 1,010  

Add back items:

         

Amortization of definite-lived intangibles

      12,591       6,275       26,356       34,047  

Stock-based compensation

      6,580       5,121       13,367       10,361  

Non-cash interest expense

      506       497       1,024       1,224  

Gain on sale of property

      (14,420 )      (42 )      (7,973 )      (215 ) 

Loss on extinguishment of debt

      —        1,154       —        1,154  

Loss (gain) on sale of subsidiary

      —        69       —        (1,270 ) 

Unrealized (gain) loss on commodity hedge

      (434 )      867       (1,186 )      (1,261 ) 

Purchase accounting related inventory markup

      —        164       —        327  

Restructuring, acquisition-related and other charges

      11,308       12,297       8,599       18,241  

Income taxes5

      (2,352 )      (182 )      (4,087 )      (11,926 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP net income

    $ 40,131     $ 33,044     $ 72,918     $ 51,692  
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-GAAP earnings per diluted share

    $ 0.39     $ 0.32     $ 0.70     $ 0.49  

Adjusted EBITDA reconciliation6:

         

GAAP net income

    $ 26,352     $ 6,824     $ 36,818     $ 1,010  

Add back items:

         

Income tax provision (benefit)

      4,180       6,586       7,783       (1,338 ) 

Interest expense

      12,219       11,843       24,543       24,650  

Amortization of definite-lived intangibles

      12,591       6,275       26,356       34,047  

Depreciation expense

      26,184       24,937       50,880       50,190  

Stock-based compensation

      6,580       5,121       13,367       10,361  

Gain on sale of property

      (14,420 )      (42 )      (7,973 )      (215 ) 

Loss on extinguishment of debt

      —        1,154       —        1,154  

Loss (gain) on sale of subsidiary

      —        69       —        (1,270 ) 

Unrealized (gain) loss on commodity hedge

      (434 )      867       (1,186 )      (1,261 ) 

Purchase accounting related inventory markup

      —        164       —        327  

Restructuring, acquisition-related and other charges

      11,308       10,924       8,761       15,592  
  

 

 

    

 

 

    

 

 

    

 

 

  

Adjusted EBITDA

    $ 84,560     $ 74,722     $ 159,349     $ 133,247  
  

 

 

    

 

 

    

 

 

    

 

 

  

Adjusted EBITDA margin

      14.0 %      13.7 %      13.6 %      12.2 % 

Free cash flow reconciliation:

         

Operating cash flow

    $ 41,855     $ 25,884     $ 85,750     $ 80,962  

Capital expenditures, net

      (9,955 )      (49,417 )      (59,251 )      (80,124 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Free cash flow

    $ 31,900     $ (23,533 )    $ 26,499     $ 838  
  

 

 

    

 

 

    

 

 

    

 

 

  

1 

This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the financial information in our consolidated condensed statements of operations.

 

2 

Non-GAAP gross profit and gross margin measures exclude amortization of intangibles, stock-based compensation expense, unrealized (gain) loss on commodity hedge, purchase accounting related inventory markup, and other charges.

 

3 

Non-GAAP operating income and operating margin measures exclude amortization of intangibles, stock-based compensation expense, gain on sale of assets, unrealized (gain) loss on commodity hedge, purchase accounting related inventory markup, restructuring, acquisition-related costs, and other charges.

 

4 

This information provides non-GAAP net income and non-GAAP EPS, which are non-GAAP financial measures. Management believes that both measures — which add back amortization of intangibles, stock-based compensation expense, non-cash interest expense on debt (before consideration of capitalized interest), gain on sale of assets, loss on extinguishment of debt, loss (gain) on sale of subsidiary, unrealized (gain) loss on commodity hedge, purchase accounting related inventory markup, restructuring, acquisition-related costs, and other charges as well as the associated tax impact of these charges and discrete tax items — provide additional useful information to investors regarding the Company’s ongoing financial condition and results of operations.

 

5 

Income tax adjustments reflect the difference between income taxes based on a non-GAAP tax rate and a forecasted annual GAAP tax rate.

 

6 

Adjusted EBITDA is defined as earnings before income taxes, interest expense, amortization of intangibles, depreciation, stock-based compensation expense, gain on sale of assets, loss on extinguishment of debt, loss (gain) on sale of subsidiary, unrealized (gain) loss on commodity hedge, purchase accounting related inventory markup, restructuring, acquisition-related costs, and other charges. We present adjusted EBITDA to enhance the understanding of our operating results, and it is a key measure we use to evaluate our operations. In addition, we provide our adjusted EBITDA because we believe that investors and securities analysts will find adjusted EBITDA to be a useful measure for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, adjusted EBITDA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity or as an alternative to net income as a measure of operating results in accordance with accounting principles generally accepted in the United States of America.

v3.24.2
Document and Entity Information
Jul. 31, 2024
Cover [Abstract]  
Entity Registrant Name TTM TECHNOLOGIES INC
Amendment Flag false
Entity Central Index Key 0001116942
Document Type 8-K
Document Period End Date Jul. 31, 2024
Entity Incorporation State Country Code DE
Entity File Number 000-31285
Entity Tax Identification Number 91-1033443
Entity Address, Address Line One 200 East Sandpointe
Entity Address, Address Line Two Suite 400
Entity Address, City or Town Santa Ana
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92707
City Area Code (714)
Local Phone Number 327-3000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, $0.001 par value
Trading Symbol TTMI
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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