Ttm Technologies ( (TTMI) ) has released its Q4 earnings. Here is a breakdown of the information Ttm Technologies presented to its investors.
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TTM Technologies, Inc. is a global leader in manufacturing technology solutions, including mission systems, RF components, and advanced printed circuit boards, known for its time-critical manufacturing services that drive quicker product development and market entry. In its recent financial report, TTM Technologies announced robust fourth-quarter and full-year 2024 results, highlighting significant growth in net sales and non-GAAP net income driven by strong demand across various sectors, particularly in Aerospace and Defense and Data Center Computing. The fourth quarter of 2024 saw net sales increase to $651 million, a rise from the previous year’s $569 million, with non-GAAP net income reaching $62.8 million, up from $43 million. The company also reported a record backlog in its Aerospace and Defense programs and impressive revenue contributions from its Data Center Computing sector. For the full year 2024, TTM achieved net sales of $2.4 billion, a 9.4% increase from 2023, with non-GAAP net income of $178.4 million. The company attributed this growth to generative AI in data centers and ongoing strength in aerospace sectors, alongside strategic expansions such as new facilities in Malaysia and New York. Looking ahead, TTM Technologies projects its first-quarter 2025 revenues to range between $600 million and $640 million, reflecting continued confidence in its strategic positioning and market demand.
