Ttm Technologies, Inc. · NASDAQ:TTMI
Ttm Technologies — NASDAQ OMX 26th Investor Program (June 2011)
30 slides from Ttm Technologies's conference presentation, Jun 21, 2011
Slide 1: TTM Technologies Investor Presentation
TTM Technologies Investor Presentation NASDAQ OMX 26th Investor Program June 21, 2011
Slide 2: Disclosure Safe Harbor
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
Slide 3: Company Overview
Company Overview
Slide 4: Global Leader in PCB Manufacturing
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 coordina
Slide 5: Q1 2011 Highlights
Q1 2011 Highlights Sales $342.8 million Gross margin: 23.9% GAAP net income1 : $27.1 million - $0.33 per diluted share Non-GAAP net income1 : $33.3 million - $0.40 per diluted share Lead times at normal levels: 4 - 6 weeks 1 Net income attributable to shareholders
Slide 6: TTM Revenue Trend
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Sales 79 106 204 129 89 180 241 240 369 669 681 583 1180 183 TTM Revenue Trend ($ in Millions) Acquisition Power Circuits (7/14/99) Acquisition Advanced Circuits (12/26/02) Acquisition Tyco PCG (10/27/06) Acquisition Meadville PCB (4/9
Slide 7: Specialized Facilities Provide Optimal Growth
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
Slide 8: Global Ranking Top World PCB Makers 2010
Global Ranking Top 10 World PCB Makers 2010 Represents approximately 27% of 2010 total world PCB output ($ in Millions) Core supplier to wide range of high-end networking products addressing increasing bandwidth demands Key supplier in rapidly growing touch screen tablet market Expanding position in
Slide 9: Global Strength
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 Sub
Slide 10: Industry & Market Overview
Industry & Market Overview 10
Slide 11: World PCB Outlook 2011
Source: N.T. Information Ltd. April, 2011 World PCB Outlook 2011 PCB Demand by End Market Source: BPA Consulting, Feb 2011 55% of the world production will be generated from the Greater China region in 2011 China will continue to gain share in the world PCB production
Slide 12: Diversified End Market & Customer Base
Topwise A E Diversified End Market & Customer Base Q1 2011 Sales Selected Customers by End Market 16% 27% 8% 34% 6% 9% Aerospace & Defense Cellular Phone Computing, Storage & Peripherals Medical / Industrial / Instrument Networking & Communications Other (includes Consumer)
Slide 13: Future Plans & Strategies
Future Plans & Strategies 123
Slide 14: Positioned for Revolutionary Growth
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
Slide 15: Advanced Technology, Value Added Strategy
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 Volum
Slide 16: Growth Driver - Asia Pacific
Growth Driver - Asia Pacific Seasonality in Q1 with gradual improvement into Q2 Launch of touchpad tablets in Q2 2010 Continuous growth in demand for smartphones Continued demand for increased bandwidth Focus on more advanced HDI applications Q1'09 - Q1'10 17% Growth Q1'10 - Q1'11 28% Growth
Slide 17: High Density Interconnect (HDI) Technology & ASP
ASP (USD) High Density Interconnect (HDI) Technology 1x 2x 3x Technology & ASP
Slide 18: Strategic Growth Objectives
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
Slide 19: Financial Overview
Financial Overview 19
Slide 20: Consolidated Income Statement - Q1 Actual
Consolidated Income Statement - Q1 Actual * Attributable to stockholders; excludes net income of $2.0M attributable to noncontrolling interests
Slide 21: Target Model
Target Model * Attributable to stockholders
Slide 22: Balance Sheet
Balance Sheet {$ in millions) 2010 2014 Assets: ‘Cash, Cash Equivalents and Short-term Investments ‘Accounts and Notes Receivable, Net Inventories ‘Other Current Assets Total Current Assets Property, Plant and Equipment, Net Goodwit Defiitesived intangibles, Net Other Aszots Total Assets Liabilities
Slide 23: Cash Flow
Cash Flow ($n millions) Net Income Depreciation of Property, Plant and Equipment ‘Amortization of Definite-Lived Intangible Assets ‘Amortization of Convertible Notes, Debt Discount and Debt Issuance Costs Deferred Income Taxes ‘Stock-Based Compensation Impairment of Goodwill and Long-Lived Assets Ot
Slide 24: Investment Highlights
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
Slide 25: Appendix
Appendix 25
Slide 26: Diversified End Markets
Diversified End Markets AP Combined NA Aerospace / Defense Cellular Phone Computing / Storage / Peripherals Medical / Industrial / Instrument Networking / Communications Other 0% 15% 38% 5% 33% 9% 39% 0% 11% 12% 37% 1% 1Q 2011 Sales
Slide 27: Broad Product Offering
Broad Product Offering Combined AP NA 2 - 6 Layer 8 - 10 Layer 12 - 18 Layer 20 Layer + HDI Backplane Assembly Flex & Rigid-Flex IC Substrates Other 12% 18% 20% 4% 40% 0% 2% 3% 1% 11% 10% 18% 21% 7% 26% 6% 0% 1% 1Q 2011 Sales
Slide 28: Global Revenue Base
Global Revenue Base Agilent Cisco HP HTC Huawei IBM Juniper Northrop Grumman Raytheon ZTE Benchmark Celestica Flextronics Foxconn Jabil Plexus Primax Quanta Computer Sanmina Wistron 1Q 2011 Sales Major OEMs Major EMS Sales by Region
Slide 29: Reconciliations
Reconciliations car) (S in millions, except EPS) 2010 March 28, 2011 EBITDA Reconciliation: Net income $739 sz. ‘Add Back tems: Income Tax Provision 287 13 Interest Expense 23 63 Depreciation Expense 487 156 ‘Amortization of intangibles 42 EBITDA $193.4 366.5 Non-GAAP EPS Reconciliation: Net Income
Slide 30: IR Contacts
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
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