EXHIBIT 99.1
Published on March 22, 2011
Exhibit 99.1
| Sidoti & Company LLC 15th Annual New York Emerging Growth Institutional Investor Forum March 22, 2011 TTM Technologies Investor Presentation |
| Disclosure Safe Harbor During the course of this presentation, the company will make forward- looking statements subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, fluctuations in quarterly and annual operating results, the volatility and cyclicality of various industries that the company serves and other risks described in TTM's most recent SEC filings. The company assumes no obligation to update the information provided in this presentation. The company also will present non-GAAP financial information in this presentation. For a reconciliation of TTM's non-GAAP financial information to the equivalent measures under GAAP, please refer to the company's press release, which was filed with the SEC and which is posted on TTM's website. |
| Company Overview Industry & Market Overview Future Plans & Strategies Financial Overview Table of Contents |
| Company Overview |
| Global Leader in PCB Manufacturing Top 5 global PCB manufacturer - $1.4 billion in revenue* 15 specialized factories located in U.S. and China Over 17,000 employees worldwide Focused on advanced technology products Total customer solution: prototype through production Technology development coordinated with customers' needs Diversified end markets with broad customer base * Pro forma 2010 |
| Q4 2010 Highlights Sales $373.4 million Gross margin: 24.1% GAAP net income: $33.0 million - $0.41 per diluted share* Non-GAAP net income: $39.7 million - $0.49 per diluted share The combination with Meadville was highly accretive to GAAP earnings, adding more than $0.20 per diluted share *Included a foreign exchange gain that contributed $0.02 per diluted share. |
| TTM Revenue History 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Sales 79 106 204 129 89 180 241 240 369 669 681 583 1180 ($ in Millions) Acquisition Power Circuits (7/14/99) Acquisition Advanced Circuits (12/26/02) Acquisition Tyco PCG (10/27/06) Acquisition Meadville Holdings (4/9/2010) |
| Specialized Facilities Provide Optimal Growth Integrated manufacturing platform enables TTM to execute a global facility specialization strategy Focused Assembly 8 Shanghai, China 1 Stafford, CT 3 San Diego, CA Aerospace/Defense 5 High Tech/Quick-Turn/High Mix 4 Chippewa Falls, WI 2 Santa Clara, CA Santa Ana, CA 6 Logan, UT 9 Stafford Springs, CT China Volume Production 10 Dongguan - DMC 11 Dongguan - SYE 12 Guangzhou - GME 13 Shanghai - SME 14 Suzhou - MAS Substrate 15 Shanghai - SMST 7 Hong Kong - OPCM 8 7 12 13 10 11 14 15 1 9 2 5 3 4 6 United States |
| Global Strength Asia Pacific North America 7 factories / 3.5 million sq. ft. Over 30 million sq. ft. of capacity (annual) Strong in Smartphones, Tablet PCs, Servers, Storage and Networking Ramp and Volume capability Advanced "any layer" HDI High layer count conventional PCB Flex & rigid-flex PCB Substrate PCB 8 factories / 850k sq. ft. Over 3 million sq. ft. of capacity (annual) Strong in Aerospace & Defense, High End Servers, Storage and Networking Proto, Ramp and Low Volume/ High Mix production Very high layer count capability Specialty rigid-flex, RF and thermal management PCBs Advanced HDI for commercial and defense Combined Strength, Total Solution |
| Global Ranking Top 10 World PCB Makers 2009 Represents approximately 29% of 2009 total world PCB output ($ in Millions) Key supplier in rapidly growing touch screen tablet market Expanding position in smartphones Core supplier to wide range of high-end networking products addressing increasing bandwidth demands Leadership position in strategic North America Aerospace & Defense industry Leading Position in Growing Market Segments Source: NT Information |
| Industry & Market Overview |
| Source: N.T. Information Ltd. Q2 2010 Better than expected pick up in 2010 for all major regions 49% of the world production will be generated from the Greater China region by 2011 China will continue to gain share in world PCB production World PCB Outlook 2011 PCB Demand by End Market Source: BPA Consulting, Feb 2011 |
| Topwise A E E Diversified End Market & Customer Base Q4 2010 Sales Selected Customers by End Market 16% 22% 8% 37% 5% 12% Aerospace & Defense Cellular Phone Computing, Storage & Peripherals Medical / Industrial / Instrument Networking & Communication Other (includes Consumer) |
| Future Plans & Strategies |
| Positioned for Revolutionary Growth Advanced Semiconductor Technology Expansion in Communication, Networking & Storage Infrastructure Proliferation of "Converged Mobile Devices" Explosion of Network Applications & Cloud Computing Consumer Demand for Advanced Printed Circuit Board Technology Business |
| Advanced Technology, Value Added Strategy Advanced Technology & Service Excellence Early involvement engineering support Prototype / QTA Pilot orders Low volume / High mix (NA) Medium volume / Ramp (AP) High technology Volume production (AP) Product Launch/ Ramp NPI R&D Maturity High Mix / Low Volume High Volume |
| (CHART) Growth Driver - Asia Pacific Seasonality in first quarter Launch of touchpad tablets in Q2 2010 Growing demand for smartphones Continued demand for increased bandwidth Transitioning to more advanced HDI applications 26% Growth Y/Y Est. |
| ASP (USD) High Density Interconnect (HDI) Technology 1x 2x 3x Technology & ASP |
| Strategic Growth Objectives Invest in advanced technology Focus on the early stages of the product life cycle Leverage our leadership position and global footprint Service customers in growth end markets Customer-driven culture |
| Financial Overview |
| Consolidated Income Statement - Q4 Actual Asia Pacific acquisition accretive to Q4 earnings by more than $0.20 |
| Target Model |
| Balance Sheet |
| Investment Highlights Market leader in advanced technology PCBs Strong track record of operating performance Increasing margin profile Highly efficient operations and low cost structure Healthy balance sheet Solid cash flow funding growth |
| Appendix |
| Diversifying Revenue Base Revenue by End Market - Pro Forma 2010 Asia Pacific Combined North America Source: Company filings |
| Reconciliations |
| IR Contacts Asia Pacific Audrey Sim VP, Investor Relations & Business Development e-mail: audrey.sim@meadvillegroup.com North America Steve Richards CFO & Investor Relations e-mail: steve.richards@ttmtech.com |