SANTA ANA, CA – TTM Technologies reported net sales of $617.2 million for the fourth quarter, an increase from the $598.1 million in sales in the fourth quarter of 2021.

Net sales for the year increased 11% to $2.50 billion from $2.25 billion in fiscal year 2021, and the company estimates that revenue for the first quarter of 2023 will be in the range of $550 million to $590 million.

"We delivered solid results in 2022 with revenues growing organically 5.4% year on year, despite supply chain, labor inflation and availability, and COVID-19 challenges," said CEO Tim Edman. “In addition, we closed the acquisition of Telephonics, increasing our revenues from the Aerospace and Defense end market to approximately one billion dollar annual run rate and approximately 40% of total company revenues. Finally, in 2022, we generated $272.9 million in operating cash flow which enabled us to purchase Telephonics and strengthen our balance sheet, while returning capital to our shareholders.”

• Prev
• Next