TTMI - Earnings call transcript Q4 2024

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Operator

Good afternoon. Thank you for standing by. Welcome to the TTM Technologies, Inc. Fourth Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded today, February 5, 2025. Sameer Desai, TTM's Vice President of Corporate Development and Investor Relations, will now review TTM's disclosure statement.

Sameer Desai

Sheri. you, Thank

from based revise management's on encourage we started, to These risk today's expectations you information, get to does like and circumstances, or remind filings represent undertake and whether publicly assumptions Securities differ these future available to future Exchange one the obligation Commission, which other due new Before statements, more except with not currently we or contains forward-looking I provide forward-looking review. result TTM that risks any materially information. could results to call outlook. statements including required of related forward-looking statements, as forward-looking law. events, everyone a any update statements of business to the or by we uncertainties, Actual would these factors including and TTM's our statements in

of will We EBITDA. certain financial with in accordance and substitute website the adjusted in GAAP measures, on included as a and measures the non-GAAP on earnings reconciliations Relations as presented is the for such should we company's Investor section to considered and call also GAAP, discuss in release, investors.ttm.com. be -- between prepared at which you measures the direct available TTM's measures non-GAAP Such this not

Executive call. I Chief posted now TTM's turn website have we over Please a our Tom that to Tom. on Edman, during will We will the also slide go deck refer that to ahead, call Officer.

Thomas Edman

with Boehle, business will our QX of fourth business and quarter a Year Conference for followed by our overview QX with Fourth XXXX the Fiscal XXXX our summary our an Sameer. and review and XXXX Good us of strategy. our afternoon, begin I'll Quarter our Thank of guidance. you thank from performance our of a joining results, for CFO, you, financial quarter highlights Call. follow discussion and a Dan

XXXX, summarized are financial our quarter a and of their earnings Data of fourth questions. Highlights hard the and for to and Generative those website. in and by latter on and to presentation of of year-on-year strong AI. of high the the markets, contributions the TTM's revenues in due of guided from We thank support quarter grew posted year-on-year the above Center TTM excellent range. non-GAAP results Networking open your and year growth achieved fourth In driven our end end Computing call the an then to EPS Revenues quarter consecutive on represented employees demand and XXXX, Slide like being the full XX% will Defense, Aerospace results. quarter's strength X X delivered work would I We the

with Defense have for backlog billion. X.XX, high A&D our Aerospace revenues and book-to-bill Center from end While Demand quarter, Data was at book-to-bill in record offset the the X.XX. and end the partially a Computing continues growth be our we was was revenue Automotive of we approximately revenues of market, strong, by to in and achieved declines and Medical, now program Instrumentation which record markets, Overall, A&D XX% our markets. in Industrial year-over-year company $X.XX and the

cyclical a operating our business consecutive continued transform now be to second and TTM the reflected solid non-GAAP journey differentiated. double strategic Finally, a execution. I to and digit more on were quarter like margins would is provide to for less update.

particularly our part have and is several we product a the consistently our Defense emphasized in market. key to of to add to customers, past solutions the deliver Aerospace the we years, that Over that strategy value

XX% printed our Telephonics, acquisitions revenues now integrated engineered XX% less As circuit a generated Defense of over of and products, Anaren strategic end than result Aerospace from with electronic Defense market and the of in Aerospace are overall. and boards the transactions and contributing in through

began XX We executing operating improved of in our year up margins. strategy this against financial quarter, for The and really significant points. reduction basis we operating And with the have and impact X into margins and see show successfully and X.X% on this normal teams Defense a been first margins comparison steadily to have to Aerospace the to heading expect operating of impact strategy, seasonal XXXX in operations revenues years. the non-GAAP past up non-GAAP the

differentiation as service and highly of new facility automated Data important is investment our Another is Malaysia a to our state-of-the-art, and Instrumentation. in end facility Networking Computing, Penang, in markets. commercial Center supporting PCB Industrial Medical, in markets This customers our element such manufacturing in in strategy new Malaysia customers

to ramping continue further year. I'd and total navigate make quarter and we update focus like qualifications. footprint. and continue momentum close in order audits to our ramp bookings, this to plant customer manufacturing solid fourth necessary performance, the operational progress our plan printed the the gathered we We also volume accelerate X with as board expect to to production previously you announced consolidation improve profitability. the facilities in of customer on utilization, manufacturing We circuit to small We

in and remaining of Santa facilities. and into manufacturing Hong Clara, consolidated California Anaheim course Kong TTM's operations the PCB During XXXX, and were closed

to the production for ramp transferred continue parts facilities. We receiving at

City, efficiencies. consolidate North previously Huntington, order and in York facilities smaller into improve in to also We plans non-PCB announced integrated Carolina electronics existing to X facilities New Elizabeth

of XX closure Elizabeth the the the plans are and closure consolidation year is been Huntington City the a of will of completed complete, worldwide. has TTM operate end XXXX. As of middle XXXX, of these total facilities After expected of fiscal by

Finally, you of our to construction the technology like update the Defense facility and our would to the board and security through market new York our Ultra immediately advanced in New support Syracuse, high-technology providing for new adjacent a previous on expand campus. of specialized printed increasing existing HDI with lead production, for announcement on in increase for focus facility national will high-technology Aerospace circuit PCBs of This significant times I PCBs. intent capability domestic capacity requirements customers reduced to a

XXXX. building continuing and We for low production the in rate are construction new initial expect

for million million. including expect proposed in As X investment project, be previously Phase the for $XXX the of announced, capital improvements, to campus-wide of between to range the we $XXX

and receiving certain from State offset and support Federal and order $XX capital expenses. the of approximately both be subject the lower on to operating requirements serve will initial We will contingencies, investment to which million, sources

XXXX. QX sales Revenues of demand record XX% our market high. like on a end which to XX% franchise of positive budgets our programs. The supplemental the to XXXX bookings compared defense and to strong on I'd presentation related fourth defense the Aerospace total the a XX% bookings billion a conflicts the fourth is in Now alignment strong to We solid in of grew a an in end book-to-bill quarter Ukraine XX% quarter are market of of year-on-year tailwind program referenced website. review sales backlog leading our end of sales QX earnings The all-time ratio funding markets, quarter. previous to Page and and for X Defense the represented key at X.XX, record A&D of and had strategic with approximately $X.XX a and result Middle East, of ongoing program in

programs. we MRAM saw and significant TPY-X the During for the bookings Patriot, quarter,

time growth. represent and in market this expect sales. We QX in Bookings of good than markets and from visibility ship our our longer of Defense period total in end Aerospace about market commercial future to XX% revenue provide a the over sales into

fourth XXXX, strong end market the XX% of above The represented and to demand and products data AI QX X% expect revenues year, due full growth the of in total improved revenues sales Aerospace a of applications. to XX% XXXX. saw Center of XX% Data strength In year-on-year end to QX XX% to growth in and market Computing higher-than-expected were a in high projections in to XX% grew to record from due in the our for we result end execution. QX. of quarter Defense XXXX pull-ins X%. Sales third longer-term operational For due market be from the market customers, building Generative This center quarter compared

result, revenues sales. represent to this a market we of As quarter expect in first XX% end

in in PCBs be areas. market year, semiconductor longer-term Instrumentation testing quarter end quarter we growth year sales generally total above XX% demand decline XX% year-over-year purchases lower generative Medical, Center The AI as result and XXXX. compared to customers increased increased drove contributed testing X% applications. The generative increased ] Industrial market of AI of the in by from quarter equipment. the the medical the automated demand and (sic) applications. Medical, our XX% [ particularly to demand ago was inventory of the end due Generative Computing driven Data industrial increased third to normalization, XX% fourth We XXXX, saw our and primarily of For to ongoing expect in X%, Instrumentation the AI the full In and for of the for Industrial,

end Instrumentation and Industrial Medical, XX% the expect revenues. to we quarter, of first the For market be

of XX% primarily quarter decline above-market correction year, XX% longer-term to at XX% forecast the For during quarter the was inventory year-over-year be X% expect and In sales year began XXXX to to due Automotive sales declined years several growth for for X% the to adjustments inventory XXXX many XXXX. quarter that continued and to line customers fourth customers. MI&I third end with the demand compared represented of this X% XXXX, the growth. industry due in ago total in of during we market. Automotive of in soft the at full continued following The

QX. business total Automotive in our expect We of to XX% contribute sales

and correction at full XX% OEMs decreased demand share demand the For China. Automotive in due Automotive weak as took to countries the in EV inventory stalled year, and Chinese developed customers

ongoing strongest the be the XXXX. Year-on-year ago market fourth in market in end this Networking from longer-term expect to growth X% expect revenue by to year XX%, quarters third below to of compares revenue growth this the accounted products. we due as new of and AI-related quarter customers. to softness. Networking We was during of demand quarter revenues X% demand market In of in driven certain X% QX, to increased quarter X% be the XXXX of for forecast of during and to X% This this due to recover, XXXX. continues X% demand many

year, declined and inventory XX% to due For Networking the demand. correction full weak

facility had of that XXXX revenue we sold the In XXXX. million BPA addition, $X Shanghai in QX in

We this XXXX. to above to longer-term market X% be growth in X% of expect forecast

X Next, earnings available on I'll is quarter. cover some details from presentation. fourth of This the Page our information also

approximately XX% technology our in XX% components HDI, the quarter, products, systems, which QX. ago in of flex, record compares revenue, accounted high. engineered and rigid advanced for the subsystems approximately engineered quarter to RF a and year During XX% This and include and

and improved as rates strong the utilization demand year-on-year and compared year in to networking XX% basis, engagement XX% XX% QX are data ago to in be and advanced We quarter increase opportunities in market On center Asia a the new activities QX. rebounded. products engineered and programs was to design leverage our markets. PCB in new in new business will utilization capacity capabilities that Pacific pursue and customer continuing technology continues

Our XX% quarter was capacity XX% utilization QX. America in overall compared in PCB and year XX% QX ago North the to in in

America as for calculating outside rates. As these a occur facilities is in not process Pacific North we in Asia which plating, bottlenecks utilization use as meaningful because tend are reminder, that core areas high-mix, the to figures low-volume utilization of

of million Our with over into total XX% quarter more as measure XXXX backlog. top fourth quarter XX% shipments of provide Aerospace of the at the increased year. of last in in record fourth company subject of fourth And the QX, to was a $X.XX had year in from $XXX.X our quarter QX the of customer of quarter. of X million our will report I last at this compared our is sales customers $XXX.X Starting customers billion XX-day backlog, $X.XX hubs XXXX. total a end end end We excluding the sales the accurate XX% QX of contributed and Defense billion end in X backlog, the compared to backlog includes At cancellations earlier, we shipments to of program and total QX, into mentioned the year. to which at the hubs to

the Our ended was overall for XX. months ratio December X.XX book-to-bill X

Dan Now for performance will review Dan? the fourth quarter. our financial

Daniel Boehle

today financial presentation on afternoon, and the are earnings our fourth results posted for Slide that summarized will in our were in release and of the everyone. the distributed included X press website. I quarter good review Tom, Thanks,

XX% fourth Center in and our year-over-year compared Industrial to the and end net markets. end and markets, Medical, $XXX declines in growth by was Defense, For partially $XXX the our sales fourth due Aerospace million Data quarter, Instrumentation to Automotive; offset quarter Networking XXXX. The Computing were increase in million of

fourth XXXX inclusive GAAP operating quarter goodwill fourth billion in Center by $X.X X% declines partially For XXXX. of of the income the billion the diluted share, related full driven $XX.X of $X.X XXXX comments XXXX increase operating year, of were quarter million end diluted income sales in was RF&S net Components by compared Computing of to net markets. GAAP compared income Aerospace and in our compares $X.XX $X.X segment and for was growth a income offset per impairment a million. charge and the our for million on of share. The to Medical, Networking and of for for remainder $XX.X Defense a will related Automotive; million The focus fourth million, On GAAP markets, Data impairment segment. XXXX to or basis, quarter to of or $XX.X to non-GAAP charge the performance. RF&S Instrumentation financial of fourth per the the GAAP This $X my goodwill Industrial $XX.X was Components million end quarter our net inclusive $X.XX

items Fourth management by amortization impairment property year-on-year costs, and improved expense of the [ We decrease execution. Selling of Automotive non-GAAP X.X% costs, was with the unfrequent $X.X marketing $X.X in through declines compares and XX.X% excludes to ago. In and and Aerospace higher in performance particularly or $XX.X financial items. the and end prior the XX.X% other ] the expense million versus quarter or due of offset $XX.X compensation, net of million was year of or million costs same such million the the unusual to goodwill, X.X% start-up million information of XXXX, sales volume, comparisons net and same non-GAAP year or quarter markets of to sales net Our $XX.X quarter Data Defense The investors Center or quarter Research in the ago. of in and Development net fourth fourth expense or partially as gains stock fourth noncash last eyes was sales million a fourth quarter X.X% sales net and Computing X.X% operational sales on costs, sales the intangibles, certain enable of X.X% was facilitate periods. Gross sales or quarter quarter continued of of to compared in sale see and was restructuring to and XXXX. of in X.X% expectations market, G&A with margin in present M&A-related the the year. compared Penang higher $XX.X net employee-related a to company

quarter points a in the the was year. the basis I same $XX.X XXXX in expense decrease in same the primarily Our of from million last fourth of operating year, XX.X%, fourth quarter margin due XX.X% just the in million to mentioned. XXXX as last was $XX.X XX quarter in quarter to decrease Interest compared gross margin,

net experienced local in million translation The of volatility gains exchange determined Malaysia current prior the U.S. year the exchange remove into was million dollar significant functional in by the currency quarter of a below quarter currency loss sheets we and exchange local million losses from our comparative sheets driven EBITDA. non-GAAP full the exchange to primarily earnings $XX.X foreign to compared there quarterly local a losses financial translation driven the measures, users balance fourth exchange gains quarter the non-GAAP U.S. foreign appropriate a quarter. operating of that of exchange dollar to line year. Due the loss of impact and schedule China income unrealized impact and from balance $X.X During provide by release from XXXX, was financial gain a million gains $X significant foreign XXXX. The measures net the into non-GAAP our our currencies currency, unrealized functional unrealized foreign XXXX. with the a the foreign our against the have compared of of adjusted with have second fourth foreign restated impact our we and information, was of in to Malaysia first gain to attached fourth $X.X from and net historical appreciation EPS to provides statement income, from China beginning order XXXX currency, our which year In

resulting net government the a the million EPS totaled of compares to year. last In a same $X.X net income million EPS This impact or interest or gain million, a negative $X.XX current a $XX.X $X.XX in incentives of quarter. in to impact $X.X in to addition, loss quarter and

flow sales. fourth was resulting compared in the Our $XX.X last million, net from $XX.X a quarter for XX.X% in totaled $XXX.X quarter million same was quarter the capital of net at EBITDA $X.X quarter XX.X% or million the tax was diluted income effective strong $X.XX end or or year. million XXXX adjusted XXXX tax was quarter was X.X% quarter came cash of EBITDA to million Cash of the quarter of than with million. or in representing Net compares of in Depreciation XXXX This the net the sales million XX% rate for quarter Cash operations $X.X per $XXX.X net income per quarter, diluted sales. or and XX.X% the net tax XXXX to a in expense million. fourth quarter rate This fourth the for XXXX million. more $XX.X $XX.X of share. Adjusted at Fourth of of $X.XX a of fourth $XX.X of compares fourth fourth $XX million. of equivalents share. XXXX of spending expense

debt months Our XX EBITDA debt net last was -- divided X.Xx. by

to up is our and of approximately starting range in non-GAAP XXX.X which $X.XX million outstanding Penang quarter for effect with the for operating to XXXX We and to of diluted inclusive to be range turn $XXX share to our XXXX. options of stock shares, first earnings sales diluted forecast per other the net is will dilutive the the quarter first I Now the million in of on guidance be a stock of EPS awards. project million associated of includes based $X.XX share, which count of costs facility. $XXX

be net X.X% first to be sales in of the expense We about about sales. expect SG&A and R&D to X.X% of quarter net

We of income tax our effective million to stock-based approximately $XX.X we expense and expect record million, of of XX% $X approximately amortization approximately of million. depreciation rate of Further, expense of XX%. compensation $X.X expect $X.X estimate interest million expense million, and approximately be approximately $XX.X We million. approximately interest interest $X.X between of will intangibles noncash and

TD will Industrial we and Citi The the and JPMorgan that announce Conference Cowen February Virginia February Miami and Arlington, in in XX; our concludes to like Tech the February I'd remarks. Defense in be XX; Miami on participating in Finally, Conference on Conference Mobility Leveraged Aerospace Finance prepared on XX. That

Operator? we'd questions. to open Now like for line the

Operator

[Operator come line question our Instructions] from with And William Securities. Stein the first will Truist of

William Stein

smoothing this? I your First, that's the you QX quantify is seasonality margin you talked operating you to and effect? reflected guidance. apparently And performance, Can that about Tom, think do what's the in talk maybe about changed in allowing

Thomas Edman

Yes, we in to think, been over years, Sure. to address, A&D that improving we're -- time, that changes XX% -- XX%, shift looking XX%, A&D The that, the revenue have as where the last up let do mix. level XX%. around over effectively, has the I done we've me business brought of brought us this. now we've And allowed X approximately biggest XX% a from at

mix, tends facilities, -- little we drop-off. seasonality. revenue; the a improve with not in that that in the see them quarter, be to but compare. in the a into shift we us QX America non-PCB -- there; that of performance it's dramatic do still has call of that allowed do we We terms facilities, as really QX better A&D, the QX the that still of non of as bit a electronics added to North consistency to So integrated our associated facilities bringing

which from commercial a And is sold area, therefore, we and with QX thing business; and -- asset-intense related business. we that on the off strong our seasonal, pressure XXXX, And always put relied of margins. business on our highly difficult working manage a really that standpoint into big that then was Mobility second and business. really our in seasonality, also products business QX. The to a QX, drop in then a to did very in consumer QX, the very That

longer do So just strong selling the that business, stronger improving business, And volumes, in the factor these cyclical, markets. business-to-business customers. certainly to Yes, we've Chinese the our Asia, and New that that continued on commercial A&D are Again, our is have connection production does a we certainly time. still demand with and longer build then affect base Year, cycle but mix. stronger over is

the you QX off real certainly that more worked So standpoint, we could to in revenues used do as to today that much quarter. for anything They there? XX%, from XX% we go to Dan, see that's us. And has a QX. drop combination quantification from are add consistent have

Daniel Boehle

drive No, the will I -- And comparative the obviously, over staying agree year, with volumes with drive in the considerable up, that. will that margins, last improvement that same so.

William Stein

Great.

hoping can bit I'm the QX thereabouts. you generated out ramping contemplated what us that's sort much offer just tell what's a As there? can maybe give breakeven? I'm a think how A can -- sometime, Any of QX? Penang in to And us details few us timing in follow-up, the reiterated I hoping breakeven, you've you you QX? more revenue What's or pushed you Penang. but ago, what to quarters on timing detail to

Thomas Edman

The material -- revenue so sure. in QX. Yes, really very not QX level, small, very,

QX, and -- in start production, to parts start we ramp million $X up level the in pushing these particularly through see to starting see intersection in commercial look that yield of into working new at putting We are coming we're will that to a the to commercial production. million it's occur. of But still we're be that good terms encouraging -- program terms somewhere, nice curve, revenue be so just to in to going let's as as still As $X say, also production. of we we'll that range

at can we're to the qualifications we waiting so for program revenue been and we So through. now register had coming facility. starting Those to to intersection come through start have been see

course programs. still we you're And the we're So been into -- year QX time to that period of the we've level. breakeven correct will looking that get that that ramp to through as at continue

Operator

And moment line One for our will the that Securities. next from Mike B. with Crawford of come Riley question.

Michael Crawford

talked strong down Patriot, of backlog others the of could in Aerospace and way percent bookings versus there Is PCB about you backlog Electronics? in program Integrated You a Defense. some break MRAM, or

Thomas Edman

levels, you if revenue at look roughly, reflects backlog it -- mix well A&D, reflects So pretty our in Mike. there

did about continue XX-XX We some So -- in approximately. early Syracuse into mix PCB organic of increases next see the up probably that as year, comes see IE. the that we we'll and revenue come in against the bring -- we'll growth the to a bit as see balance

So again, roughly in of backlog. half half terms and the

Michael Crawford

I or probably that affect XXXX facility margins? to yield impact it be in 'XX guess more how and when -- might suppose all be start you at would would be the And new versus and curve little effect to PCB a it that LRIP early would as running margin I smoothly bit Okay. the potential expense it related start

Thomas Edman

of about let the very but talk how case on me a I'll our work We'll the the customer little will explain be So Dan let bit process in about that hand-in-hand margins, working facility. bit closely primary -- Syracuse. with little a

really a the you'll then of what seeing it part that there we equipment equipment year, early as so as next bring be be we'll in; qualification there. is running And and

won't so the next first see get part through until year. significant you And you impact of

rate. are million full -- also the Now in $XXX level remember, the at production with plan associated the at revenues

of contribution to So stages. as Penang, have as significant certainly the be comments early terms not Dan, revenue in going anywhere But it's there? do you further in any not

Daniel Boehle

or currently, just of so to because level I the expect the Penang there give going ramp won't same echo but to guidance, mean, less size. XXXX and in we it's Penang, X-year I'd it's don't we XXXX. that relative No, you comment half headwind And of that size And be impact as minimal say the margins. up X-year the of much I to would than

Michael Crawford

in that in high in what might And And final to main be bottleneck America Syracuse plating the I Okay. today? America in not? know North it's mix as you bottlenecks your be, similar but expect a or would there just facilities, what not North might are question

Thomas Edman

Yes, that's good a question.

those facilities. we getting that move you an bottleneck. start be where so bottlenecks in it a can be around where if front-end, the kinds of with an we orders, hit front-end with we have get So problems area absolutely can lot Interestingly, -- engineering, area of

can rise. into you're perhaps seeing significant and drill that facilities, to piece the are we other to drill, in then Going one of area test have our more to when Again, equipment tend bottleneck use areas or X be point backup the area. only the smaller single tend orders

shape complexity So depending bottlenecks on the absolutely depending at the We're good of speed you're around facility. capacity those part, in going in to move really the see on the required, on right. plating you're And America North point. this

gained -- that's equipment We've in our in-capacity. We of the and been operations, our purchasing been strategy. we've that purchasing commercial we significantly knowledge some added have -- using informing

last flexibility in years, gives significant to over respond. us plating And capacity so the X that America North have that added we

see plating. facility, As with on a we get an into Syracuse, you're to lot the of weight Ultra going HDI

built be going We're that. to that's the count high-density the requirements. it for the So kind of handle be will -- layer interconnect high and required facility building but to

So in be we see where we're you'll to building may mind. that it's and it we'll with areas drill what not is be plating, challenges. face test will primarily Again, if -- going

Operator

will One next Needham. question. with that come James moment for And from Ricchiuti the of line our

Chris Grenga

to in if could a elaborate activity Or the going that Data you just backfill headwind QX? Chris the quarter? whether if is was the market? for you pull-ins current is saw in on strong end in I Center to wondering Jim. there Grenga on you This be And demand that you saw pull-in expect that

Thomas Edman

QX we're QX, QX. question, Great going We that. sequentially to a the at -- looking pull-in Yes. yes, so from of we as of, to can both. you be expecting see, slightly plays little bit The as into are is -- a it's down be Chris. That function

other Year. Chinese New The is though, piece,

New Chinese in for product of to the and operating primary for but Networking during down New has be are our and we -- additional Asia that of Year, an Chinese ship our impact out. facilities So of in facilities Year, ability Center Data one the balance will in terms

a X it's factors. combination those of So

Chris Grenga

are customers I how you Got the conversations come tariff How the are guess, of you impact regulations abating the it. -- or into starting are that? sort approaching are minimizing now And having that your with contours those types what of of tariffs? view, to you around of

Thomas Edman

Yes.

imports to I'll you. situation. And trying coming So the glad still scenarios we tell certainly modeled, the and very our PCBs to you course, a for own -- of case number remains internally. We're direct so contours from I'm the portion staying those -- are customers our stay U.S., PCBs, the the revenue. as of view China a close into of possible into small of have very And in as of it

may look shift. What tariff now may if locations. you done -- XX% additional assembly an So portion there very at X% revenue is what's multiple is our cause that revenue, of cross-qualifying about have job with good last left, year's which a customers

least for geography. ship ship into and a do they the time, not change at we'll that's what by to will ] period ask So us is [ But move, a -- tariffs. see geography see potentially if affected tariffs the they of into will, another to

it's shipping that actually resiliency standpoint -- flexibility built been we're the that's contract chain from So in The has been to. supply impressive. a with manufacturers quite now

customers strategy using. primary that's mitigation the So our are that

Operator

for showing to now time. turn any like back over at Mr. I'm the to further Edman Instructions] this closing remarks. in you. no questions would the call I Thank [Operator queue Tom

Thomas Edman

Yes. you. Thank

to call. and Just in thank Computing did revenues for major the we Data the some XX% in wanted today's delivered again the everyone reiterate to us growth call. We in that we and And Center revenues just joining -- of hit QX, strong year-on-year, points to that, in record summarize then Defense on Aerospace markets.

had of we Second, double-digit second consecutive a operating margins. quarter

Third, from to flow operations sales, we generated of debt-to-EBITDA net able our were leverage and a X.Xx. healthy to bring down XX.X% cash of we

our complete this And construction bring progress Syracuse. we -- of fantastic the facility So focus in or initiatives our on Penang strategic standpoint. of and continue as our course, from there there up facility new to we project a year in financial

I'd customers, and as you and you, much. So your continued like course, navigate of in our to forward. very closing, Good-bye. employees our going their we all just XXXX for support thank of Thank

Operator

concludes today's Thank you all participating. This program. for

You now disconnect. may

TTM (TTMI) 5 Feb 252024 Q4 Earnings call transcript