---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-028382"
form_type: "8-K"
ticker: "TTMI"
cik: "0001116942"
company_name: "TTM TECHNOLOGIES INC"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:27:48.212863+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# TTM Q4 non-GAAP EPS $0.41 beats midpoint; closes 3 PCB plants, cuts ~750 jobs

## Summary
- Q4 net sales $617.2M; GAAP EPS $0.06 (incl. $51.8M property gain, $51.7M tax reserve); non-GAAP EPS $0.41.
- Q1 2023 guidance: revenue $550-590M, non-GAAP EPS $0.16-0.22; cites softer commercial demand and inventory reductions.
- Consolidation plan: close PCB facilities in Anaheim, Santa Clara, and Hong Kong by end of 2023.
- Restructuring charges expected $22-28M (80% cash); headcount reduction of ~750 employees (~5% of workforce).
- Annual operating profit improvement estimated $22-27M after full facility closures and business transfer.

## SEC filing metadata
- accession: 0001193125-23-028382
- form_type: 8-K
- ticker: TTMI
- cik: 0001116942
- company_name: TTM TECHNOLOGIES INC
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/0001193125-23-028382-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/d426497d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-028382
- JSON: https://secwatch.observer/filing/0001193125-23-028382.json
- Plain text: https://secwatch.observer/filing/0001193125-23-028382.txt

## Key facts
- Earnings Releases
  TTM TECHNOLOGIES INC reported fourth quarter of fiscal year 2022, which ended January 2, 2023 results: revenue $617.2 million, net income $6.0 million, EPS $0.06 per diluted share.
  - Period: fourth quarter of fiscal year 2022, which ended January 2, 2023
  - Revenue: $617.2 million
  - Net income: $6.0 million
  - EPS: $0.06 per diluted share
  - Result: reported results
  source text: Fourth Quarter 2022 Highlights - Net sales were $617.2 million - GAAP net income of $6.0 million, or $0.06 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/0001193125-23-028382-index.htm
- Earnings Releases
  TTM TECHNOLOGIES INC reported first quarter of 2023 results: revenue $550 million to $590 million, EPS $0.16 to $0.22 per diluted share. Guidance reaffirmed.
  - Period: first quarter of 2023
  - Revenue: $550 million to $590 million
  - EPS: $0.16 to $0.22 per diluted share
  - Guidance: reaffirmed
  - Result: guidance update
  source text: TTM estimates that revenue for the first quarter of 2023 will be in the range of $550 million to $590 million, and non-GAAP net income will be in the range of $0.16 to $0.22 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/0001193125-23-028382-index.htm
- Earnings Releases
  TTM TECHNOLOGIES INC reported fiscal year 2022 results: revenue $2.50 billion, net income $94.6 million, EPS $0.91 per diluted share.
  - Period: fiscal year 2022
  - Revenue: $2.50 billion
  - Net income: $94.6 million
  - EPS: $0.91 per diluted share
  - Result: reported results
  source text: of record bookings of $464.3 million in the Aerospace and Defense end market,” concluded Mr. Edman. Full Year Fiscal 2022 Results Net sales for fiscal year 2022 increased to $2.50 billion from $2.25 billion in fiscal year 2021, an 11.0% increase. Excluding approximately six months from the contribution of Telephonics, revenues grew organically 5.4% in 2022 over
  evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/0001193125-23-028382-index.htm
- Restructurings & Charges
  TTM TECHNOLOGIES INC announced a restructuring with charges of approximately $22 million to $28 million affecting PCB operations located in Anaheim and Santa Clara, California, and Hong Kong (approximately 750 employees).
  - Type: restructuring
  - Charge: approximately $22 million to $28 million
  - Affected area: PCB operations located in Anaheim and Santa Clara, California, and Hong Kong
  - Headcount: approximately 750 employees
  source text: Plan will result in its total headcount being reduced by approximately 750 employees. The Company estimates that it will incur total charges related to the Plan of approximately $22 million to $28 million in separation, asset impairment and disposal costs. Approximately 80% of these costs will be in the form of cash expenditures and the rest in the form of non-cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523028382/0001193125-23-028382-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.