August 2, 2004 - EX-99.1 - 8-K: Current report filing

Exhibit 99.1

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RBC Capital Markets

North American Technology Conference 2004

Safe Harbor Provision

During the course of this presentation, we will make projections or other forward-looking statements regarding future events or the future financial performance of the Company. We wish to caution you that such statements reflect only our current expectations, and that actual events or results may differ materially.

We refer you to the risk factors and cautionary language contained in the documents that the Company files from time to time with the Securities and Exchange Commission, specifically the Companys most recent S-3 Registration Statement and Form 10-K. Such documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. We undertake no obligation to update such projections or such forward-looking statements in the future.

Kent Alder

President
and
Chief Executive Officer

Company Overview

TTM is a leading provider of time-critical and technologically complex printed circuit boards to the worlds leading electronic equipment designers and manufacturers

[GRAPHIC]

Pure Play printed circuit board (PCB) manufacturer

Focused on time (24 hrs to 10 days) & technology service segments

Three integrated, mission-focused production facilities:

Santa Ana, CA

Redmond, WA

Chippewa Falls, WI

$119.3 million in first half 2004 sales

1,613 employees

Investment Highlights

Focused Strategy & Leading Market Position		Leader in most attractive PCB segments time & technology Mission-focused facilities speed, flexibility and technology

Demonstrated Execution Excellence		Strong relationships with leading OEM and EMS customers Proven ability to integrate acquisitions Cross-selling efforts leading to success

Industry Leading Financial Performance		Profitable business model across cycle Strong balance sheet

Market Leadership. . .Focus. . . Execution. .. . Performance

Attractiveness of Time & Technology Strategy

Growth		Early access to new customers with high-growth potential Key supplier to high-growth programs within market leaders Critical service for new product introduction across multiple industries

Limited Competition		Difficult business model to replicate Significant technology expertise and investment required Quick-turn, high-mix production subject to less competition

Performance		Time & technology focus allows premium pricing Leads to superior margins and profitability

Consistent Strategic Focus Driving Growth and Profitability

Industry Overview

Industry Dynamics and Key Success Factors

Current Industry Dynamics

Continued outlook for healthy industry conditions

High volume, low-mix, low-technology production transitioning to Asia

Significant consolidation of North American capacity

Key Success Factors

Capacity in place for complex products and short lead times

Focus on quick-turn, high-mix and technology limits foreign competition

Well-capitalized firms with targeted strategy gaining share

TTM is Positioned to Capitalize on Industry Trends

PCB Competitive Landscape

Panel Volume (lots)

	Technology Level
	0-8 layers, standard materials	9-15 layers, standard materials	16+ layers, exotic materials
High (> 1,000)	PCs Computer peripherals Automotive Consumer electronics	Cell phones Advanced PDAs Power supplies	Limited product application

Medium (100 < 1,000)	PCs Computer peripherals	Low-end servers High-end computers	High-end servers Telecom infrastructure High-end networking	TTM focus

Low (< 100)	Misc. industrial equipment Low-end aerospace/defense	Semicap equipment Medical equipment Aerospace/defense Instrumentation Industrial equipment	Specialized communications High-end aerospace/defense

Quick-Turn

North American PCB Market Overview

$5.3 billion North American PCB market in 2003

Total number of PCB manufacturers has been reduced by approximately 50%

950 companies in 1992 to fewer than 500 in 2003

30 40% of PCB capacity has been removed since 2000 peak

Only 7 PCB fabricators with greater than $100 million in 2003 revenue

Pure Play Independent	Conglomerates	Integrated EMS
TTM	Tyco	DDi
Merix		EIT
Photocircuits		Sanmina-SCI

TTM Benefiting from Ongoing Industry Consolidation

Source: Henderson Ventures; N.T. Information Ltd. (Dr. Hayao Nakahara). Excludes companies focused on flex circuits.

TTMs Strategy

Industry Leading Execution and Financial Results

Strong Long-Term Outlook

Customers / End Markets

Diverse base of industry leading customers

Early access to emerging customers and niche end-markets

Global sales reach

Time

Dedicated ultra-short lead time capability (<24 hours available)

Dedicated, highly flexible, ramp-to-volume production in <10 days

High-mix complex technology production with standard delivery

Financial Strength

Focus on operational excellence

Superior asset management and strong balance sheet

Successful integration of opportunistic acquisitions

Technology

High performance, technologically complex PCBs

Advanced manufacturing processes & technology expertise

Industry leading avg. layer count of 19+ at Chippewa Falls facility

Facility Specialization Strategy

[CHART]

Mission-Focused Facilities Speed, Flexibility and Technology

Capacity Expansion Plan at Existing Facilities

Chippewa Falls Phase One

Approximately 100 additional employees by mid-04

44,000 sq. ft. physical expansion

Capital equipment and plant expansion ($10mm)

Additional employees

Target completion by end of 2004

55% Expansion

Chippewa Falls Phase Two

Capital equipment ($4mm) and staffing only

Can be completed in 3-6 months

Additional 30% Expansion

Santa Ana / Redmond

Ongoing capacity expansion

Capital equipment

Additional employees

Total Post-Expansion Revenue Capacity of $425 million

Price by Delivery Time

[CHART]

Quick-Turn Revenue
(10 days or less)

~27% 2003

~23% 1H 04

Quick-Turn Service Allows Premium Pricing

Revenue By Layer Count

Percentage of Revenue

[CHART]

Avg. Layer Count
1H 04	=	15.2
2000	=	8.3

Continuing to Upgrade Technological Capabilities

Global Sales Reach

	TTM Shipments by Geography 1H 2004		Sales	Technical Support	Inventory Hub

Europe	9	%	3	1	2

Asia & ROW	12	%	5	1	1

North America	79	%	86	8	4

Total			94	10	7

Integrated Direct and Rep Network Driving Incremental Sales

Customer Concentration

Percentage of Revenue

[CHART]

Increased Exposure to End Market Leaders

*Pro forma for the acquisition of Power Circuits, which occurred in July 1999.

Revenue Chain

1H 2004 - % of total production revenues

End Markets

Enterprise I/T

51%

Telecom Service Provider

21%

High-End Computing

31%

Networking/Comms

41%

Other End Markets

28%

Indust./Med. - 16%

Peripherals - 6%

Handheld/Other - 6%

TTM Technologies

Customers

Top OEM Customers

Cisco

Hewlett-Packard

IBM

Juniper

Sun Microsystems

Top 5 = 58%

Top 10 = 67%

Shipped OEM-direct

30%

Channel

EMS Providers - - 70%

Benchmark

Celestica

Jabil

Plexus

Solectron

Others

Enterprise IT Spending Primary End Market Driver

Key Customers by End Market

Percentage of Revenue by End Market 1H 2004

Networking & Communications	41	%	[LOGO]

High-End Computing	31	%	[LOGO]

Industrial & Medical	16	%	[LOGO]

Computer Peripherals	6	%	[LOGO]

Handheld & Other	6	%	[LOGO]

Leading Positions with Industry Leaders. . .

Approximately 600 Active Customers

Delivery of Total TTM Solution

[LOGO]

[CHART]

Each Facility Delivering Unique Value Proposition to Cisco

Compelling Growth Opportunities

One-stop manufacturing solution with numerous cross-selling opportunities

Quick-turn capabilities for attracting emerging high-growth customers

Leadership in technology and advanced manufacturing processes

Capacity available through low risk, low cost expansion plan

Successful track record of completing and integrating acquisitions

Stacey Peterson

Chief Financial Officer

Annual Sales

Sales ($mm)

[CHART]

Quarterly Sales

Sales ($mm)

[CHART]

Annual EBITDA* and EBITDA* Margin

[CHART]

* Please see Appendix for EBITDA reconciliation. EBITDA means earnings before interest expense (including amortization of debt issuance costs), income taxes, depreciation and amortization.

Quarterly EBITDA* and EBITDA* Margin

[CHART]

* Please see Appendix for EBITDA reconciliation. EBITDA means earnings before interest expense (including amortization of debt issuance costs), income taxes, depreciation and amortization.

Quarterly Results and Estimates

($mm, except per share data)

2003

2004

3QE

Sales

41.0

45.3

54.3

57.7

61.6

$62.0-$64.0

Gross Profit

6.4

9.5

14.2

17.3

19.1

% Margin

Operating Income*

1.0

4.0

7.4

10.7

11.4

GAAP Diluted EPS

0.01

0.06

0.11

0.15

0.17

$0.18-$0.20

Operating Cash Flow

6.9

0.1

3.8

7.5

14.1

Inventory Turns

Guiding For Continued Revenue and Profit Improvement

*Earnings before interest expense (including amortization of debt issuance costs), income taxes and amortization.

Capitalization

($mm)

	12/31/02		12/31/03		6/28/04

Cash & ST Investments	$	18.9	$	31.7	$	47.1

Net Cash	8.9		23.9		40.4

Total Shareholders Equity	167.4		178.3		193.0

Total Capitalization	177.4		186.1		199.7

Well-Capitalized for Future Growth

Conclusion

Solid industry fundamentals

Focused strategy and strong market position

Demonstrated execution excellence

Industry leading financial performance

[LOGO]

Appendix

Annual EBITDA Reconciliation

1998

1999

2000

2001

2002

2003

Net Income (loss)

8.4

(0.2

)

28.1

11.0

1.6

7.4

Add back items:

Income taxes

(5.0

)

6.2

(2.3

)

3.9

Interest expense

0.9

10.4

12.2

2.6

1.1

0.6

Amortization of debt issuance costs

0.1

0.8

0.7

0.1

Depreciation of property, plant, and equipment

3.0

3.6

5.5

8.3

8.8

7.8

Amortization of intangibles

2.2

4.8

1.2

1.3

Total Add back items

4.0

17.1

18.2

22.0

8.9

13.7

EBITDA

12.4

16.8

46.3

33.0

10.5

21.1

Quarterly EBITDA Reconciliation

2002

2003

2004

1 Q

2 Q

3 Q

4 Q

1 Q

2 Q

3 Q

4 Q

1 Q

2 Q

Net Income (loss)

(0.3

)

(1.3

)

(0.4

)

3.5

(0.2

)

0.4

2.5

4.7

6.5

6.9

Add back items:

Income taxes

(0.1

)

(0.6

)

(0.2

)

(1.3

)

(0.4

)

0.2

1.4

2.8

3.9

4.1

Interest expense

0.3

0.2

0.1

Amortization of debt issuance costs

0.0

0.1

0.0

Depreciation of property, plant, and equipment

2.3

2.4

2.1

2.0

1.9

2.0

1.9

2.0

2.1

Amortization of intangibles

0.3

Total Add back items

2.8

2.4

2.5

1.4

2.0

2.7

3.7

5.2

6.3

6.6

EBITDA

2.5

1.1

2.1

4.9

1.8

3.1

6.2

9.9

12.8

13.5

Form: 8-K

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