2013 Q3 Form 10-Q Financial Statement

#000119312513320992 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q2
Revenue $338.7M $327.4M
YoY Change -0.09% -10.57%
Cost Of Revenue $290.3M $272.7M
YoY Change 1.24% -5.56%
Gross Profit $48.44M $54.69M
YoY Change -7.41% -29.28%
Gross Profit Margin 14.3% 16.7%
Selling, General & Admin $33.16M $32.46M
YoY Change 2.12% -2.91%
% of Gross Profit 68.45% 59.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.60M $24.40M
YoY Change 1.99% 15.64%
% of Gross Profit 52.85% 44.61%
Operating Expenses $49.63M $36.56M
YoY Change -80.54% -57.43%
Operating Profit -$1.187M $18.13M
YoY Change -99.41% -312.15%
Interest Expense $5.848M $6.380M
YoY Change -9.04% -4.55%
% of Operating Profit 35.19%
Other Income/Expense, Net -$3.156M -$6.568M
YoY Change -70.88% 102.15%
Pretax Income -$4.343M $11.56M
YoY Change -97.97% -198.02%
Income Tax $3.365M $4.009M
% Of Pretax Income 34.68%
Net Earnings -$7.708M $7.410M
YoY Change -96.3% -135.45%
Net Earnings / Revenue -2.28% 2.26%
Basic Earnings Per Share -$0.09 $0.09
Diluted Earnings Per Share -$0.09 $0.09
COMMON SHARES
Basic Shares Outstanding 82.63M shares 81.90M shares
Diluted Shares Outstanding 82.63M shares 82.27M shares

Balance Sheet

Concept 2013 Q3 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $230.5M $248.9M
YoY Change -18.06% 3.58%
Cash & Equivalents $270.5M $248.5M
Short-Term Investments $0.00 $500.0K
Other Short-Term Assets $142.3M $33.10M
YoY Change 225.63% -16.83%
Inventory $145.1M $131.9M
Prepaid Expenses
Receivables $213.7M $310.0M
Other Receivables $113.4M $0.00
Total Short-Term Assets $719.0M $724.0M
YoY Change -7.88% 1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $806.9M $809.5M
YoY Change -1.29% 9.91%
Goodwill $183.5M
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K
YoY Change
Other Assets $25.48M $13.41M
YoY Change 129.45% -71.95%
Total Long-Term Assets $874.5M $1.097B
YoY Change -1.55% 2.45%
TOTAL ASSETS
Total Short-Term Assets $719.0M $724.0M
Total Long-Term Assets $874.5M $1.097B
Total Assets $1.593B $1.821B
YoY Change -4.51% 1.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.1M $154.3M
YoY Change 7.0% -28.08%
Accrued Expenses $76.70M $82.10M
YoY Change 7.72% 1.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $96.20M $111.8M
YoY Change 133.42% -9.29%
Total Short-Term Liabilities $452.1M $441.6M
YoY Change 14.45% -9.36%
LONG-TERM LIABILITIES
Long-Term Debt $482.8M $261.6M
YoY Change 30.48% -35.25%
Other Long-Term Liabilities $40.01M $15.80M
YoY Change 218.09% 32.73%
Total Long-Term Liabilities $476.5M $445.5M
YoY Change -12.17% 7.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $452.1M $441.6M
Total Long-Term Liabilities $476.5M $445.5M
Total Liabilities $928.6M $887.0M
YoY Change -0.95% -13.74%
SHAREHOLDERS EQUITY
Retained Earnings $56.50M $243.1M
YoY Change 62.46%
Common Stock $551.8M $541.1M
YoY Change 1.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $664.8M $830.7M
YoY Change
Total Liabilities & Shareholders Equity $1.593B $1.821B
YoY Change -4.51% 1.92%

Cashflow Statement

Concept 2013 Q3 2012 Q2
OPERATING ACTIVITIES
Net Income -$7.708M $7.410M
YoY Change -96.3% -135.45%
Depreciation, Depletion And Amortization $25.60M $24.40M
YoY Change 1.99% 15.64%
Cash From Operating Activities $58.60M $38.80M
YoY Change 34.71% -42.77%
INVESTING ACTIVITIES
Capital Expenditures -$34.90M -$33.00M
YoY Change 15.56% -25.84%
Acquisitions
YoY Change
Other Investing Activities -$47.30M $0.00
YoY Change -47400.0% -100.0%
Cash From Investing Activities -$82.30M -$33.00M
YoY Change 173.42% -25.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.00M 18.10M
YoY Change -248.51% 66.06%
NET CHANGE
Cash From Operating Activities 58.60M 38.80M
Cash From Investing Activities -82.30M -33.00M
Cash From Financing Activities -30.00M 18.10M
Net Change In Cash -53.70M 23.90M
YoY Change -259.82% -30.92%
FREE CASH FLOW
Cash From Operating Activities $58.60M $38.80M
Capital Expenditures -$34.90M -$33.00M
Free Cash Flow $93.50M $71.80M
YoY Change 26.87% -36.06%

Facts In Submission

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us-gaap Amortization Of Debt Discount Premium
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us-gaap Income Tax Expense Benefit
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us-gaap Allocated Share Based Compensation Expense Net Of Tax
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us-gaap Amortization Of Intangible Assets
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ttmi Customer Accounts For Percentage Of Net Sales
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ttmi Convertible Notes Contractual Coupon Interest
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ttmi Amortization Of Debt Issuance Costs
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dei Trading Symbol
TradingSymbol
TTMI
dei Entity Registrant Name
EntityRegistrantName
TTM TECHNOLOGIES INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-07-01
dei Entity Central Index Key
EntityCentralIndexKey
0001116942
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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us-gaap Effective Income Tax Rate Continuing Operations
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OtherNonoperatingIncomeExpense
633000
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
184000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2583000
CY2013Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9559000
CY2013Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
3311000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
20110000
CY2012Q2 ttmi Reporting Segment Information Operating Income Loss
ReportingSegmentInformationOperatingIncomeLoss
22230000
CY2012Q2 ttmi Amortization Of Debt Issuance Costs
AmortizationOfDebtIssuanceCosts
159000
CY2013Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
67000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82975000 shares
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
380000 shares
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.405 pure
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.96
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2162000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82595000 shares
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-76000
CY2013Q3 us-gaap Profit Loss
ProfitLoss
13712000
CY2013Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
9000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1014000
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-72000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23057000
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11123000
CY2013Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
184000
CY2013Q3 us-gaap Gross Profit
GrossProfit
48457000
CY2013Q3 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
28347000
CY2013Q3 us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
69000
CY2013Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
184000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5290000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
13137000
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
3143000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11011000
CY2013Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
684000
CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
289564000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1687000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26141000
CY2013Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1715000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9345000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1899000
CY2013Q3 us-gaap Interest Expense
InterestExpense
5923000
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2327000
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-4000
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
575000
CY2013Q3 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
95000
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
14266000
CY2013Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
18472000
CY2013Q3 ttmi Customer Accounts For Percentage Of Net Sales
CustomerAccountsForPercentageOfNetSales
0.14 pure
CY2013Q3 ttmi Convertible Notes Contractual Coupon Interest
ConvertibleNotesContractualCouponInterest
1422000
CY2013Q3 ttmi Amortization Expense Excluding Portion Recorded In Cost Of Goods Sold
AmortizationExpenseExcludingPortionRecordedInCostOfGoodsSold
2327000
CY2013Q3 ttmi Reporting Segment Information Operating Income Loss
ReportingSegmentInformationOperatingIncomeLoss
30674000
CY2013Q3 ttmi Amortization Of Debt Issuance Costs
AmortizationOfDebtIssuanceCosts
174000

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