TTM Technologies Files Q2 2024 10-Q Report

TL;DR

TTM Tech filed its Q2 10-Q. Financials are in.

AI Summary

TTM Technologies Inc. filed its 10-Q for the period ending July 1, 2024. The filing details the company's financial performance and operational status. Key financial data and disclosures are provided for investors and stakeholders.

Why It Matters

This filing provides crucial financial and operational insights into TTM Technologies, Inc. for the second quarter of 2024, impacting investor decisions and market analysis.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or unusual disclosures.

Key Players & Entities

• TTM TECHNOLOGIES INC (company) — Filer
• 20240701 (date) — Reporting Period End Date
• 20240806 (date) — Filing Date
• 7143273000 (dollar_amount) — Business Phone Number

FAQ

Key Financial Figures

• $0.001 — ge on which registered Common Stock , $0.001 par value TTMI Nasdaq Global Select

Filing Documents

• ttmi-20240701.htm (10-Q) — 2411KB
• ttmi-ex10_1.htm (EX-10.1) — 1511KB
• ttmi-ex10_2.htm (EX-10.2) — 1513KB
• ttmi-ex31_1.htm (EX-31.1) — 11KB
• ttmi-ex31_2.htm (EX-31.2) — 11KB
• ttmi-ex32_1.htm (EX-32.1) — 9KB
• ttmi-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-091772.txt ( ) — 14325KB
• ttmi-20240701.xsd (EX-101.SCH) — 1289KB
• ttmi-20240701_htm.xml (XML) — 2411KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION 3

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Consolidated Condensed Balance Sheets as of July 1, 2024 and January 1, 2024 3 Consolidated Condensed Statements of Operations for the quarter and two quarters ended July 1, 2024 and July 3, 2023 4 Consolidated Condensed Statements of Comprehensive Income (Loss) for the quarter and two quarters ended July 1, 2024 and July 3, 2023 5 Consolidated Condensed Statements of Stockholders' Equity for the two quarters ended July 1, 2024 and July 3, 2023 6 Consolidated Condensed Statements of Cash Flows for the two quarters ended July 1, 2024 and July 3, 2023 7 Notes to Consolidated Condensed Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 28

: OTHER INFORMATION

PART II: OTHER INFORMATION 29

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financial Sta tements (unaudited)

Item 1. Financial Sta tements (unaudited) TTM TECHNOLOGIES, INC. Consolidated Condens ed Balance Sheets As of July 1, 2024 and January 1, 2024 As of July 1, 2024 January 1, 2024 (Unaudited) (In thousands, except par value) ASSETS Current assets: Cash and cash equivalents $ 446,247 $ 450,208 Accounts receivable, net 400,714 413,557 Contract assets 340,120 292,050 Inventories 216,906 213,075 Receivable from sale of Shanghai E-MS (SH E-MS) property — 6,737 Prepaid expenses and other current assets 48,644 54,060 Total current assets 1,452,631 1,429,687 Property, plant, and equipment, net 838,243 807,667 Operating lease right-of-use assets 81,886 86,286 Goodwill 702,735 702,735 Definite-lived intangibles, net 210,355 236,711 Deposits and other non-current assets 57,514 60,577 Total assets $ 3,343,364 $ 3,323,663 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt, including current portion of long-term debt $ 2,625 $ 3,500 Accounts payable 371,189 334,609 Contract liabilities 128,782 126,508 Accrued salaries, wages, and benefits 89,546 98,561 Other current liabilities 119,958 140,806 Total current liabilities 712,100 703,984 Long-term debt, net of discount and issuance costs 913,428 914,336 Operating lease liabilities 76,172 80,786 Other long-term liabilities 112,765 113,518 Total long-term liabilities 1,102,365 1,108,640 Commitments and contingencies (Note 14) Equity: Common stock, $ 0.001 par value; 300,000 shares authorized; 113,109 and 111,282 shares issued as of July 1, 2024 and January 1, 2024, respectively; 101,945 and 102,108 shares outstanding as of July 1, 2024 and January 1, 2024, respectively 113 111 Treasury stock – common stock at cost; 11,164 and 9,174 shares as of July 1, 2024 and January 1, 2024, respectively ( 157,570 ) ( 123,091 ) Additi

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View this 10-Q filing on SEC EDGAR