December 8, 2004 - EX-99.1 - 8-K: Current report filing

Exhibit 99.1

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Raymond James

IT Supply Chain Conference

December 8, 2004

Safe Harbor Provision

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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.

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

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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

$181.5 million in YTD 04* sales

1,643 employees

* Jan-Sept 2004

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		Key Success Factors

Continued outlook for stable industry conditions		Capacity in place for complex products and short lead times

High volume, low-mix, low-technology production transitioning to Asia		Focus on quick-turn, high-mix and technology limits foreign competition

Significant consolidation of North American capacity		Well-capitalized firms with targeted strategy gaining share

TTM is Positioned to Capitalize on Industry Trends

PCB Competitive Landscape

			Asian focus

			Competitive markets

Panel Volume (lots)

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

0-8 layers,	9-15 layers,	16+ layers,
standard materials	standard materials	exotic materials

	Technology Level

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

	Customers / End Markets Diverse base of industry leading customers Early access to emerging customers and niche end-markets Global sales reach

Technology High performance, technologically complex PCBs Advanced manufacturing processes & technology expertise	Industry Leading Execution and Financial Results	Time Dedicated ultra-short lead time capability (<24 hours available) Dedicated, highly flexible, ramp-to-volume production in <10 days
Industry leading avg. layer count of 20+ at Chippewa Falls facility	Strong Long-Term Outlook	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

Facility Specialization Strategy

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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

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Quick-Turn Revenue (10 days or less)

 ~27% 2003

~23% YTD 04*

Quick-Turn Service Allows Premium Pricing

*Jan-Sept 2004

Revenue By Layer Count

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Percentage of Revenue

Avg. Layer Count

YTD 04* = 15.6

2000 = 8.3

Continuing to Upgrade Technological Capabilities

*Jan-Sept 2004

Global Sales Reach

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Integrated Direct and Rep Network Driving Incremental Sales

*Jan-Sept 2004

Customer Concentration

Percentage of Revenue

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Increased Exposure to End Market Leaders

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

**Jan-Sep 2004

Revenue Chain

YTD 2004* - % of total production revenues

End Markets

Enterprise I/T	High-End Computing 31%	Networking / Comms 42%	50%

Telecom Service Provider			23%

Other End Markets	Industrial & Med. - 15% Peripherals - 6% Handheld & Other - 6%		27%

Customers

Top OEM
Customers

Cisco

Hewlett-Packard

IBM

Juniper

Sun Microsystems

Top 5	=	58%
Top 10	=	66%

EMS
Providers - 72%

Benchmark

Celestica

Jabil

Plexus

Solectron

Others

Shipped OEM-direct
28%

TTM Technologies

Enterprise IT Spending Primary End Market Driver

*Jan-Sept 2004

Key Customers by
End Market

Percentage of Revenue by End Market YTD 2004*

Networking & Communications	42	%	[LOGOS]

High-End Computing	31	%	[LOGOS]

Industrial & Medical	15	%	[LOGOS]

Computer Peripherals	6	%	[LOGOS]

Handheld & Other	6	%	[LOGOS]

Leading Positions with Industry Leaders. . .
Approximately 600 Active Customers

*Jan-Sept 2004

Delivery of
Total TTM Solution

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Step 1: ACI acquisition created position as a leading supplier to Cisco for complex PCBs

Step 2: Chippewa Falls capabilities and best practices shared w/Redmond to meet Ciscos high-mix, mid-volume needs

Step 3: Cisco emerges as a leading proto customer at Santa Ana during Q4

Step 4: Key qualification activities completed and initial orders captured in Q4

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

Annual Sales

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Sales ($mm)

Quarterly Sales

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Sales ($mm)

Annual EBITDA* and

EBITDA* Margin

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* 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

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* 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

4QE

Sales

45.3

54.3

57.7

61.6

62.2

$58.0-$62.0

Gross Profit

9.5

14.2

17.3

19.1

17.6

% Margin

Operating Income*

4.0

7.4

10.7

11.4

12.1

GAAP Diluted EPS

0.06

0.11

0.15

0.17

0.19

$0.14-$0.18

Operating Cash Flow

0.1

3.8

7.5

14.1

17.8

Inventory Turns

Guidance Remains Strong

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

Capitalization

($mm)

	12/31/02		12/31/03		9/27/04

Cash & ST Investments	$	18.9	$	31.7	$	52.6

Net Cash	8.9		23.9		52.6

Total Shareholders Equity	167.4		178.3		201.1

Total Capitalization	177.4		186.1		201.1

Well-Capitalized for Future Growth

Conclusion

Solid industry fundamentals

Focused strategy and strong market position

Demonstrated execution excellence

Industry leading financial performance

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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

2003

2004

1 Q

2 Q

3 Q

4 Q

1 Q

2 Q

3 Q

Net Income (loss)

(0.2

)

0.4

2.5

4.7

6.5

6.9

8.0

Add back items:

Income taxes

(0.4

)

0.2

1.4

2.8

3.9

4.1

3.6

Interest expense

0.2

0.1

Amortization of debt issuance costs

0.0

0.1

Depreciation of property, plant, and equipment

1.9

2.0

1.9

2.0

2.1

Amortization of intangibles

0.3

Total Add back items

2.0

2.7

3.7

5.2

6.3

6.6

6.2

EBITDA

1.8

3.1

6.2

9.9

12.8

13.5

14.2

Form: 8-K

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