2022 Q2 Form 10-Q Financial Statement

#000156459022019520 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q1
Revenue $581.3M $526.4M
YoY Change 2.45% 5.78%
Cost Of Revenue $490.3M $444.8M
YoY Change 4.89% 6.85%
Gross Profit $90.92M $81.60M
YoY Change -9.0% 0.32%
Gross Profit Margin 15.64% 15.5%
Selling, General & Admin $51.23M $47.81M
YoY Change 11.85% -5.95%
% of Gross Profit 56.34% 58.59%
Research & Development $5.555M $4.470M
YoY Change 32.83% -6.13%
% of Gross Profit 6.11% 5.48%
Depreciation & Amortization $31.16M $32.40M
YoY Change -1.55% -24.0%
% of Gross Profit 34.27% 39.71%
Operating Expenses $65.06M $61.80M
YoY Change 10.22% -5.16%
Operating Profit $25.87M $19.80M
YoY Change -36.73% 22.36%
Interest Expense $11.36M $11.39M
YoY Change 2.55% -42.42%
% of Operating Profit 43.92% 57.52%
Other Income/Expense, Net -$9.391M -$24.10M
YoY Change -12.83% 39.47%
Pretax Income $16.48M -$4.299M
YoY Change -45.29% 291.89%
Income Tax -$769.0K -$1.100M
% Of Pretax Income -4.67%
Net Earnings $17.25M -$3.192M
YoY Change -38.98% 171.89%
Net Earnings / Revenue 2.97% -0.61%
Basic Earnings Per Share $0.17 -$0.03
Diluted Earnings Per Share $0.17 -$0.03
COMMON SHARES
Basic Shares Outstanding 102.6M 106.8M
Diluted Shares Outstanding 104.3M 106.8M

Balance Sheet

Concept 2022 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $519.1M $539.6M
YoY Change -7.02% 49.06%
Cash & Equivalents $519.1M $539.6M
Short-Term Investments $0.00
Other Short-Term Assets $46.62M $33.40M
YoY Change 15.36% -93.97%
Inventory $137.3M $121.1M
Prepaid Expenses
Receivables $731.1M $638.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.434B $1.333B
YoY Change 2.11% -23.93%
LONG-TERM ASSETS
Property, Plant & Equipment $682.9M $651.2M
YoY Change 4.94% -2.31%
Goodwill $637.3M $637.3M
YoY Change 0.0% -9.79%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $59.48M $52.90M
YoY Change 12.19% -15.63%
Total Long-Term Assets $1.610B $1.633B
YoY Change -0.69% -7.85%
TOTAL ASSETS
Total Short-Term Assets $1.434B $1.333B
Total Long-Term Assets $1.610B $1.633B
Total Assets $3.044B $2.966B
YoY Change 0.61% -15.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $383.9M $336.7M
YoY Change 5.47% 8.75%
Accrued Expenses $109.8M $104.5M
YoY Change -4.97% 34.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $702.0K
YoY Change
Total Short-Term Liabilities $586.6M $509.2M
YoY Change 5.74% -43.7%
LONG-TERM LIABILITIES
Long-Term Debt $942.3M $926.1M
YoY Change 1.71% -24.67%
Other Long-Term Liabilities $67.63M $72.42M
YoY Change 14.13% -36.02%
Total Long-Term Liabilities $67.63M $72.42M
YoY Change 14.13% -94.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $586.6M $509.2M
Total Long-Term Liabilities $67.63M $72.42M
Total Liabilities $1.596B $1.523B
YoY Change 2.63% -32.2%
SHAREHOLDERS EQUITY
Retained Earnings $648.7M
YoY Change
Common Stock $830.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.448B $1.442B
YoY Change
Total Liabilities & Shareholders Equity $3.044B $2.966B
YoY Change 0.61% -15.84%

Cashflow Statement

Concept 2022 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income $17.25M -$3.192M
YoY Change -38.98% 171.89%
Depreciation, Depletion And Amortization $31.16M $32.40M
YoY Change -1.55% -24.0%
Cash From Operating Activities $35.99M $41.15M
YoY Change -36.81% 47.4%
INVESTING ACTIVITIES
Capital Expenditures $23.45M $21.80M
YoY Change -202.67% -32.83%
Acquisitions
YoY Change
Other Investing Activities $25.00K $800.0K
YoY Change -82.52% -97.73%
Cash From Investing Activities -$23.42M -$20.97M
YoY Change 3.2% -825.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.23M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -31.12M 68.08M
YoY Change 93.68%
NET CHANGE
Cash From Operating Activities 35.99M 41.15M
Cash From Investing Activities -23.42M -20.97M
Cash From Financing Activities -31.12M 68.08M
Net Change In Cash -18.60M 88.08M
YoY Change -202.23% 190.87%
FREE CASH FLOW
Cash From Operating Activities $35.99M $41.15M
Capital Expenditures $23.45M $21.80M
Free Cash Flow $12.55M $19.35M
YoY Change -84.28% -526.36%

Facts In Submission

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FinanceLeaseWeightedAverageDiscountRatePercent
0.0268
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0268
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1146000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1175000
CY2022Q2 ttmi Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
12656000
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
18039000
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
3198000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
14841000
CY2022Q2 ttmi Lessee Operating Lease Lease Not Yet Commenced Liability Incurred
LesseeOperatingLeaseLeaseNotYetCommencedLiabilityIncurred
851000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
11877000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.48
CY2022Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
581260000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6423000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6362000
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
1948000
CY2022Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1437000
CY2022Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
4295000
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
702000
CY2022Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
698000
CY2022Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
57617000
CY2022Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
52918000
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
91121000
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
93029000
CY2022Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
26344000
CY2022Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
28361000
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14139000
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14317000
CY2022Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5013000
CY2022Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5276000
CY2022Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
22130000
CY2022Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
20958000
CY2022Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
67626000
CY2022Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
68912000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
935879000
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
935879000
CY2022Q2 us-gaap Goodwill Gross
GoodwillGross
877924000
CY2022Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
240600000
CY2022Q2 us-gaap Goodwill
Goodwill
637324000
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
413721000
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
173803000
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
239918000
CY2022Q2 ttmi Amortization Of Intangible Assets Including Cost Of Good And Services Amortization Continuing Operations
AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortizationContinuingOperations
9658000
CY2021Q1 ttmi Amortization Of Intangible Assets Including Cost Of Good And Services Amortization Continuing Operations
AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortizationContinuingOperations
10905000
CY2021Q1 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1384000
CY2022Q2 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
1384000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
28973000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
36699000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
29516000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
25397000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
25397000
CY2022Q2 ttmi Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
84278000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
230260000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
555000
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
607000
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7114000
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7454000
CY2022Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
928210000
CY2022Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
927818000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
928210000
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
927818000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7114000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
555000
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
607000
CY2022Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2022Q2 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-2047000
CY2022Q2 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
0
CY2022Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
17246000
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3192000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102613000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106825000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1685000
CY2022Q2 ttmi Incremental Common Shares Attributable To Warrants
IncrementalCommonSharesAttributableToWarrants
6000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104304000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106825000
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.17
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.03
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.17
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.03
CY2022Q2 ttmi Cash Flow Hedge Gain Loss To Be Reclassified Within Three Months
CashFlowHedgeGainLossToBeReclassifiedWithinThreeMonths
-1087000
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
11.83
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
16.60
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4234000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4209000
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
21711000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
581260000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
526432000
CY2022Q2 ttmi Amortization Of Intangible Assets Including Cost Of Good And Services Amortization Continuing Operations
AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortizationContinuingOperations
9658000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25868000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
19800000
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9391000
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-24099000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16477000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4299000
CY2022Q2 us-gaap Assets
Assets
3044148000
CY2022Q1 us-gaap Assets
Assets
3025547000
CY2022Q2 ttmi Number Of Countries Parent Company Markets And Sells Its Products
NumberOfCountriesParentCompanyMarketsAndSellsItsProducts
50
CY2022Q2 ttmi Percentage Of Net Sales If Exceed Company Does Not Conduct Business
PercentageOfNetSalesIfExceedCompanyDoesNotConductBusiness
0.10
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
581260000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
526432000

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