TTM (TTMI) 8-K TTM Technologies, Inc. Reports Third Quarter 2007 Results

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:	Corporation:	Investors and Media:
	TTM Technologies, Inc.	Guerrant Associates
	Steve Richards / Chief Financial Officer	Laura Guerrant
	(714) 241-0303	(808) 882-1467
	investor@ttmtech.com	lguerrant@guerrantir.com

TTM TECHNOLOGIES, INC. REPORTS THIRD QUARTER 2007 RESULTS

SANTA ANA, CA –– October 31, 2007 –– TTM Technologies, Inc. (Nasdaq: TTMI), North America’s largest printed circuit board (PCB) manufacturer, today reported results for the third quarter of 2007, ended October 1, 2007.

Third Quarter 2007 Highlights

§   TTM reported strong results for the third quarter, with sequential improvement in all financial metrics.

§   The Company continued to pay down debt associated with the Printed Circuit Group (PCG) acquisition, ahead of schedule.  TTM paid down $11 million in debt during the third quarter.

§   The Company reported a Book to Bill ratio of 1.23, exceeding the North American Industry PCB Book to Bill ratio of 1.08 for the three months ending in September 2007.

Third Quarter 2007 Financial Results

Third quarter net sales of $163.1 million improved over second quarter 2007 net sales of $162.0 million, primarily due to increasing demand for TTM’s high-tech manufacturing services.

Third quarter gross margin of 19.2 percent increased 100 basis points from 18.2 percent gross margin reported in the second quarter of 2007.

Selling and marketing expense for the third quarter of 2007 was $7.1 million, representing 4.4 percent of sales.  This compares to second quarter 2007 selling and marketing expense of $7.6 million, representing 4.7 percent of sales.

General and administrative expense, including amortization of intangibles, for the third quarter of 2007 was $9.0 million, representing 5.5 percent of sales.  This compares to second quarter 2007 general and administrative expense, including amortization of intangibles, of $8.9 million, representing 5.5 percent of sales.

TTM posted operating income of $15.2 million for the third quarter of 2007, compared to $13.1 million for the second quarter of 2007.

Net income for the third quarter of 2007 was $8.2 million, or $0.19 per diluted share.  This compares with net income of $6.2 million, or $0.15 per diluted share, in the second quarter of 2007.

TTM Technologies, Inc. Reports Third Quarter 2007 Financial Results…….Page 2 of 3

EBITDA (earnings before interest, taxes, depreciation and amortization) for the third quarter of 2007 was $22.2 million, compared with second quarter 2007 EBITDA of $20.1 million.  (A reconciliation of this non-GAAP measure is provided after the GAAP financial statements accompanying this press release.)

“Robust demand for high-tech manufacturing services, combined with continued strength from our aerospace/defense customers, contributed to strong third quarter financial results,” said Kent Alder, President and CEO of TTM.  “However, the strong demand was tempered by softness in the computing end market.”  Alder concluded, “The Company had a strong level of bookings as evidenced by our book-to-bill ratio, which significantly exceeded the industry ratio and has rebounded from the beginning of the year.”

Third Quarter Segment Information – PCB Manufacturing and Backplane Assembly

TTM Technologies’ two reportable operating segments are PCB Manufacturing and Backplane Assembly.

For the PCB Manufacturing segment, net sales (before inter-segment sales) were $140.5 million in the third quarter of 2007, compared with $138.7 million in the second quarter of 2007.  Operating segment income (before amortization of intangibles) was $13.9 million in the third quarter of 2007, compared with $12.0 million in the second quarter of 2007.

For the Backplane Assembly segment, net sales (before inter-segment sales) were $30.7 million in the third quarter of 2007, compared with $32.2 million in the second quarter of 2007.  Operating segment income (before amortization of intangibles) was $2.3 million in the third quarter of 2007, compared with $2.1 million in the second quarter of 2007.

Balance Sheet

Cash and short-term investments at the end of the third quarter of 2007 totaled $27.3 million, compared with $26.1 million at the end of the second quarter of 2007.

In the third quarter of 2007, TTM continued to pay down debt associated with the PCG acquisition significantly ahead of schedule.  During the quarter, the Company reduced debt by $11 million, reducing the debt balance to $109 million at the end of the quarter. In October, the company repaid an additional $10 million. It is noteworthy that the Company has cut its debt in half in roughly one year’s time.  As a result, the corresponding interest expense is expected to be lower in future quarters.

Fourth Quarter Forecast

For the fourth quarter of 2007, TTM estimates revenues in a range of $164 million to $172 million and earnings in a range of $0.18 to $0.23 per diluted share. “The strength that we are seeing for the fourth quarter is broad-based across all of our end markets,” said Alder.  “We are pleased with our execution toward improving operational efficiency, and we believe that our increased size optimally positions us to continue to deliver best-in-class solutions to our customers and solid bottom-line financial performance.”

To Access the Live Web Cast/Conference Call

The company will host a conference call to discuss the third quarter results and fourth quarter outlook on October 31, 2007, at 4:30 p.m. Eastern Daylight Time (1:30 p.m. Pacific Daylight Time).

TTM Technologies, Inc. Reports Third Quarter 2007 Financial Results…….Page 3 of 3

To listen to the live web cast, log on to the TTM Technologies website at http://www.ttmtech.com.  To access the live conference call, dial 303-262-2130 or 800-218-0204.

To Access a Replay of the Web Cast

A digital replay will be available on TTM Technologies' website at http://www.ttmtech.com and will remain accessible for one week following the live event.

A telephone replay also will be available beginning two hours after the conclusion of the conference call until November 2, 2007. You may access the telephone replay by dialing 303-590-3000 or 800-405-2236 and entering confirmation code 11100051#.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance.  These statements reflect the company's current expectations, and the company does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized.  Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the forward-looking statements.  These risks and uncertainties include, but are not limited to, the company's dependence upon the electronics industry, the company's dependence upon a small number of customers, general economic conditions and specific conditions in the markets TTM addresses, the unpredictability of and potential fluctuation in future revenues and operating results, increased competition from low-cost foreign manufacturers and other "Risk Factors" set forth in the company's most recent SEC filings.

About TTM

TTM Technologies, Inc. is North America’s largest printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs and the backplane and sub-system assembly business.  TTM stands for time-to-market, representing how the company’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.  Additional information can be found at www.ttmtech.com.

- Tables Follow -

TTM TECHNOLOGIES, INC.
Selected Unaudited Financial Informatio
(In thousands, except per share data)
	Third Quarter						Second Quarter			First Three Fiscal Quarters
	2007			2006			2007			2007			2006
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$	163,079		$	75,765		$	162,016		$	501,992		$	225,136
Cost of goods sold		131,834			53,288			132,470			406,480			159,487
Gross profit		31,245			22,477			29,546			95,512			65,649
Operating expenses:
Selling and marketing		7,101			3,329			7,551			22,212			10,142
General and administrative		7,951			3,822			7,890			24,183			11,069
Amortization of intangibles		1,019			300			1,046			3,090			901
Total operating expenses		16,071			7,451			16,487			49,485			22,112
Operating income		15,174			15,026			13,059			46,027			43,537
Interest expense		(2,628	)		(35	)		(3,368	)		(11,094	)		(141	)
Interest income and other, net		321			1,369			236			1,316			3,464
Income before income taxes		12,867			16,360			9,927			36,249			46,860
Income tax provision		(4,666	)		(5,837	)		(3,743	)		(13,399	)		(16,970	)
Net income	$	8,201		$	10,523		$	6,184		$	22,850		$	29,890
Earnings per common share:
Basic	$	0.19		$	0.25		$	0.15		$	0.54		$	0.72
Diluted	$	0.19		$	0.25		$	0.15		$	0.54		$	0.71
Weighted average common shares:
Basic		42,260			41,823			42,199			42,203			41,651
Diluted		42,625			42,310			42,496			42,506			42,265
SELECTED BALANCE SHEET DATA
	October 1, 2007			December 31, 2006
Cash and short-term investments	$	27,315		$	70,656
Accounts receivable, net		115,304			125,435
Inventories, net		66,333			67,020
Total current assets		222,809			271,748
Net property, plant and equipment		124,291			150,837
Other assets		157,137			151,113
Total assets		504,237			573,698
Current portion long-term liabilities	$	50,000		$	60,705
Accounts Payable		50,363			49,276
Current liabilities		128,068			144,343
Long-term liabilities		61,360			142,040
Stockholders' equity		314,809			287,315
Total liabilities and stockholders' equity		504,237			573,698

SUPPLEMENTAL DATA
	Third Quarter						Second Quarter			First Three Fiscal Quarters
	2007			2006			2007			2007			2006
EBITDA	$	22,174		$	19,001		$	20,113		$	67,755		$	55,122
EBITA	$	16,543		$	16,725		$	14,369		$	50,520		$	47,990
Gross margin		19.2	%		29.7	%		18.2	%		19.0	%		29.2	%
EBITDA margin		13.6			25.1			12.4			13.5			24.5
Operating margin		9.3			19.8			8.1			9.2			19.3
End Market Breakdown:
	Third Quarter
	2007			2006
Networking/Communications		40	%		43	%
Aerospace/Defense		32			12
Computing/Storage/Peripherals		13			34
Medical/Industrial/Instrumentation/Other		15			11
Stock-based Compensation:
	Third Quarter						Second Quarter
	2007			2006			2007
Amount included in:
Cost of goods sold	$	258		$	135		$	255
Selling and marketing		55			39			48
General and administrative		609			276			581
Total stock-based compensation expense	$	922		$	450		$	884
Operating Segment Data:
	Third Quarter			Second Quarter			First Three Fiscal Quarters
Net sales:	2007			2007			2007
PCB Manufacturing		140,514			138,651			431,316
Backplane Assembly		30,679			32,164			96,500
Total Sales		171,193			170,815			527,816
Inter-Segment Sales		(8,114	)		(8,799	)		(25,824	)
Total Net Sales	$	163,079		$	162,016		$	501,992
Operating Segment Income:
PCB Manufacturing		13,899			12,019			42,285
Backplane Assembly		2,294			2,086			6,832
Total Op Segment Income		16,193			14,105			49,117
Amortization of Intangibles		(1,019	)		(1,046	)		(3,090	)
Total Op Income		15,174			13,059			46,027
Total Other Income (Expense)		(2,307	)		(3,132	)		(9,778	)
Income Before Income Taxes	$	12,867		$	9,927		$	36,249
RECONCILIATIONS*
	Third Quarter						Second Quarter			First Three Fiscal Quarters
	2007			2006			2007			2007			2006
EBITA/EBITDA reconciliation:
Net income	$	8,201		$	10,523		$	6,184		$	22,850		$	29,890
Add back items:
Income taxes		4,666			5,837			3,743			13,399			16,970
Interest expense		2,628			35			3,368			11,094			141
Amortization of intangibles		1,048			330			1,074			3,177			989
EBITA		16,543			16,725			14,369			50,520			47,990
Depreciation expense		5,631			2,276			5,744			17,235			7,132
EBITDA	$	22,174		$	19,001		$	20,113		$	67,755		$	55,122
* This information provides a reconciliation of EBITA/EBITDA to the financial information in our consolidated statements of operations.
"EBITDA" means earnings before interest expense, income taxes, depreciation and amortization. "EBITA" means earnings before interest expense, income taxes and amortization. We present EBITDA / EBITA to enhance the understanding of our operating results. EBITDA / EBITA is a key measure we use to evaluate our operations. In addition, we provide our EBITDA / EBITA because we believe that investors and securities analysts will find EBITDA / EBITA to be a useful measure for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, EBITDA / EBITA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity or as an alternative to net income as a measure of operating results in accordance with accounting principles generally accepted in the United States of America.