TTM Technologies is North America's largest printed circuit board supplier and fifth largest in the world. TTM focusesindustry-leading PCB fabrication technology for both high-velocity and high-reliability markets. Operating in an industry dominated by offshore suppliers, TTM steadfastly remains one of America's best competitors.
The worldwide market for printed circuit boards is estimated to be $55.5 billion. Of this, China produces $22.8 billion (41%). North America produces $3.4 billion (6%). At $1.4 billion in revenue, TTM produces fully one-third of all PCBs manufactured in North America.
Financial: FY2013 $1.4 billion in revenue, up 1.4% from FY2012. In Q2 2014, TTM reported $297.6 million in revenue, up 2% from last quarter but down 11.9% from the comparable quarter in 2013. However, TTM sees a healthy recovery in the coming quarter, expecting revenue to fall between $325 and $355 million (increases of 8.4-16.2%).
Size: 17,000 employees, 4.3 million square feet worldwide manufacturing space.
TTM stands for “time-to-market,” which represents the company’s emphasis on time-critical, one-stop services for customers seeking shortened time requirements, from new product development to end market completion.
TTM Technologies was incorporated in 1998, followed in 1999 by mergers with Pacific Circuits and Power Circuits, as well as a successful IPO. In 2002, the company doubled in size after an acquisition of Honeywell Advanced Circuits, and again doubled with a 2006 acquisition of Tyco Printed Circuit Group. In 2010, TTM’s acquisition of Meadville Group’s printed circuit operation in China lead to the company doubling in size yet again with combined annual sales exceeding $1 billion.
Today, TTM specializes in manufacturing complex PCB products and backplane assemblies. As stated in its 2013 annual report, TTM’s strategy is to be “the leading global provider of time-critical, one-stop manufacturing services for highly complex PCBs.” The company’s Asia-Pacific segment primarily targets smartphone and tablet consumer markets and networking infrastructure markets, seeking also to enhance the segment’s advanced technology capabilities as well as its “current niche position in substrates.” TTM’s domestic segment focuses on strengthening its advance technology, high mix-low volume, quick turnaround capabilities and its presence in military & aerospace markets.
In 2013, a majority of TTM's end market net sales were received from networking & communications markets (32 percent)—although the company received 40 percent percent of their net sales from higher velocity markets, such as “computing/storage/peripherals” (20 percent) and cellular phones (20 percent). Aerospace and defense comprised 15 percent of net sales, as “medical/industrial/instrumentation” comprised only 8 percent. The remaining 5 percent was in “other” (mobile devices and e-readers).
In 2013, TTM’s five largest OEM customers—Apple, Cisco Systems, Ericsson, Huawei, and Juniper Networks—accounted for 41 percent of its net sales, Apple accounting for 20 percent. Accordingly, in 2013, TTM’s five largest EMS customers were: Celestica, Flextronics, Foxconn, Jabil, and Plexus.
Optimum Design recommends TTM as a go to supplier for high layer count PCB's with advanced technologies such as HDI, microvias, blind/buried vias, and embedded components.
Awards: EDC Business of the Year Award (2008), IPC Peter Sarmanian Corporate Recognition Award (2011), Fortune’s 100 Fastest Growing Companies (2012).
Glassdoor:Based on 17 reviews on Glassdoor.com, TTM received 2.8/5 stars, with 36 percent of respondents recommending the company to a friend. Based on 9 ratings TTM’s CEO, Kent Alder (retired), received a 67 percent approval rating.
“Excellent team. Great culture. Most people enjoy the atmosphere. Benefits are nice and include medical, dental, vision, life insurance, 401k, etc.” – Former TTM Controller.
“Disconnect in between the sites and upper management.” – Current Employee.