In connection with the offering, TTM entered into convertible note hedge transactions and warrant transactions, which are intended to reduce the potential dilution to TTM's common stockholders upon any conversion of the notes.

TTM has been advised that, in connection with the convertible note hedge transactions and warrant transactions, the counterparties to those transactions or their affiliates may enter into various derivative transactions with respect to TTM's common stock concurrently with or shortly after the pricing of the notes. These activities could have the effect of increasing or preventing a decline in the price of TTM's common stock concurrently with or shortly after the pricing of the notes. The counterparties or their affiliates may also enter into or unwind various derivative transactions with respect to TTM's common stock and purchase or sell TTM's common stock in secondary market transactions following the pricing of the notes (and are likely to do so during any observation period relating to the conversion of a note).

TTM used a portion of the net proceeds of the offering to repay in full its term loan under its senior credit facility and to pay the cost of the convertible note hedge transactions. This cost was partially offset by proceeds that TTM received from the sale of the warrants. TTM expects to use the remaining net proceeds from the offering for general corporate purposes, including potential acquisitions.

J.P. Morgan Securities Inc. and UBS Investment Bank acted as joint book-running managers for the offering. TTM has granted the underwriters the right to purchase up to an additional $20 million aggregate principal amount of the notes within 30 days solely to cover over-allotments. If the underwriters exercise their option to purchase additional notes, TTM expects to use a portion of the net proceeds from the sale of additional notes to enter into additional convertible note hedge transactions. TTM also expects to enter into additional warrant transactions, which would result in additional proceeds to TTM.

To Access the Live Web Cast/Conference Call

TTM will host a conference call to discuss the closing of the senior convertible notes offering on Thursday, May 15, 2008, at 10:00 a.m. Eastern Daylight Time (7:00 a.m. Pacific Daylight Time). To listen to the live web cast, log on to the TTM Technologies website at http://www.ttmtech.com. To access the live conference call, dial 303-262-2143 or 800-257-1836.

To Access a Replay of the Web Cast

A digital replay will be available on TTM Technologies' website at http://www.ttmtech.com and will remain accessible for one week following the live event.

A telephone replay also will be available beginning two hours after the conclusion of the conference call until May 21, 2008. You may access the telephone replay by dialing 303-590-3000 or 800-405-2236 and entering confirmation code 11114314#.

Safe Harbor Statement

This press release contains forward-looking statements. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties, and assumptions. Other information on potential risk factors that could affect TTM, its business, and its financial results are detailed in the company's periodic filings with the SEC, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors," which can be found in TTM's quarterly report on Form 10-Q for the quarter ended March 31, 2008 filed with the SEC on May 7, 2008. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. TTM undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

About TTM

TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. TTM stands for time-to-market, representing how the company's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.

SOURCE: TTM Technologies, Inc.

TTM Technologies, Inc.
Steve Richards, 714-241-0303
Chief Financial Officer
investor@ttmtech.com
or
Guerrant Associates
Laura Guerrant, 808-882-1467
lguerrant@guerrantir.com

-- First quarter 2008 net sales of $174.1 million improved 3.9 percent over fourth quarter 2007 net sales.

-- First quarter 2008 gross margin of 21.6 percent increased 90 basis points over fourth quarter 2007 gross margins.

-- First quarter 2008 net income of $14.4 million improved 21.5 percent over fourth quarter 2007 net income.

-- Strong operating cash flow of $26.8 million enabled further pay down of debt associated with the Printed Circuit Group (PCG) acquisition. TTM paid down $10 million in debt during the first quarter, reducing the debt balance to $75 million.

First Quarter 2008 Financial Results

Commenting on results for the first quarter, Kent Alder, President and CEO of TTM, noted, "We delivered another quarter of solid financial performance, with the Aerospace/Defense end market showing improved strength, coupled with continued strong demand for our high tech manufacturing services. Our results were above expectations, and we realized sequential improvement in net sales, gross margin and net income. The first quarter results are a real compliment to the management team and demonstrate the success we are having as we work to improve margins." Alder added, "TTM's business and end market demand remain healthy and stable, and the Company has not seen a significant impact from the slowing global economy. We will continue to operate efficiently and effectively, with a customer-focused strategy to grow our business and create value."

First quarter 2008 net sales of $174.1 million improved 3.9 percent over fourth quarter 2007 net sales of $167.5 million.

First quarter 2008 gross margin of 21.6 percent increased 90 basis points over fourth quarter 2007 gross margin of 20.7 percent.

Selling and marketing expense for the first quarter was $7.7 million, representing 4.4 percent of sales. This is relatively consistent with fourth quarter selling and marketing expense of $7.6 million, representing 4.6 percent of sales.

General and administrative expense, including amortization of intangibles, for the first quarter was $9.2 million, representing 5.3 percent of sales. This compares to fourth quarter general and administrative expense, including amortization of intangibles, of $9.5 million, representing 5.7 percent of sales. The decrease in general and administrative expense was primarily due to lower auditing and consulting expense.

The Company noted that a one-time benefit attributable to an agreement reached with a vendor regarding metal reclamation positively affected operating income for the quarter. The $3.7 million benefit recorded as metal reclamation added approximately $0.05 to diluted earnings per share for the first quarter.

TTM posted operating income of $24.4 million for the first quarter, an increase of 39.2 percent over fourth quarter operating income of $17.6 million.

First quarter net income of $14.4 million, or $0.34 per diluted share, increased 21.5 percent over fourth quarter net income of $11.8 million, or $0.28 per diluted share.

EBITDA (earnings before interest, taxes, depreciation and amortization) for the first quarter was $31.0 million, or 17.8 percent of sales, compared with fourth quarter EBITDA of $24.4 million, or 14.5 percent of sales. (A reconciliation of this non-GAAP measure is provided after the GAAP financial statements accompanying this press release.)

First Quarter Segment Information - PCB Manufacturing and Backplane Assembly

TTM Technologies reports two operating segments: PCB Manufacturing and Backplane Assembly.

For the PCB Manufacturing segment, first quarter net sales (before inter-company sales) were $148.7 million, compared with $147.5 million in the fourth quarter. First quarter operating segment income (before amortization of intangibles) was $22.7 million, compared with $17.1 million in the fourth quarter.

For the Backplane Assembly segment, first quarter net sales (before inter-company sales) were $32.6 million, compared with $27.8 million in the fourth quarter. First quarter operating segment income (before amortization of intangibles) was $2.7 million, compared with $1.5 million in the fourth quarter.

Balance Sheet

Cash and cash equivalents at the end of the first quarter totaled $32.6 million, compared with $18.7 million at the end of the fourth quarter. This increase in cash is primarily attributable to higher net income and strong collection of receivables during the first quarter.

TTM's strong operating cash flow contributed to continued pay down of debt associated with the PCG acquisition. During the quarter, the Company reduced debt by $10 million, reducing the total debt balance to $75 million.

Second Quarter Fiscal Year 2008 Forecast

For the second quarter of 2008, TTM estimates revenues in a range of $170 million to $177 million and earnings in a range of $0.20 to $0.25 per diluted share.

To Access the Live Web Cast/Conference Call

The company will host a conference call to discuss the first quarter results and second quarter outlook on April 30, 2008, at 4:30 p.m. Eastern Daylight Time (1:30 p.m. Pacific Daylight Time).

To listen to the live web cast, log on to the TTM Technologies website at http://www.ttmtech.com. To access the live conference call, dial 303-262-2140 or 800-240-6709.

To Access a Replay of the Web Cast

A digital replay will be available on TTM Technologies' website at http://www.ttmtech.com and will remain accessible for one week following the live event.

A telephone replay also will be available beginning two hours after the conclusion of the conference call until May 2, 2008. You may access the telephone replay by dialing 303-590-3000 or 800-405-2236 and entering confirmation code 11112623#.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance. These statements reflect the company's current expectations, and the company does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, the company's dependence upon the electronics industry, the company's dependence upon a small number of customers, general economic conditions and specific conditions in the markets TTM addresses, the unpredictability of and potential fluctuation in future revenues and operating results, increased competition from low-cost foreign manufacturers and other "Risk Factors" set forth in the company's most recent SEC filings.

About TTM

TTM Technologies, Inc. is North America's largest printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs and the backplane and sub-system assembly business. TTM stands for time-to-market, representing how the company's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttmtech.com. - Tables Follow -

                        TTM TECHNOLOGIES, INC.

               Selected Unaudited Financial Information

                (In thousands, except per share data)



                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
                                      2008      2007         2007
                                    --------- --------- --------------

CONSOLIDATED STATEMENTS OF
 OPERATIONS

 Net sales                          $174,071  $176,897  $     167,466
 Cost of goods sold                  136,469   142,176        132,809
                                    --------- --------- --------------

 Gross profit                         37,602    34,721         34,657
                                    --------- --------- --------------

 Operating expenses:
   Selling and marketing               7,714     7,560          7,623
   General and administrative          8,205     8,342          8,445
   Amortization of definite-lived
    intangibles                          947     1,025          1,036
   Metal reclamation                  (3,700)        -              -
                                    --------- --------- --------------
     Total operating expenses         13,166    16,927         17,104
                                    --------- --------- --------------

 Operating income                     24,436    17,794         17,553

 Interest expense                     (1,835)   (5,098)        (2,734)
 Interest income and other, net          284       759            200
                                    --------- --------- --------------

 Income before income taxes           22,885    13,455         15,019
 Income tax provision                 (8,513)   (4,990)        (3,186)
                                    --------- --------- --------------

 Net income                         $ 14,372  $  8,465  $      11,833
                                    ========= ========= ==============

 Earnings per common share:
   Basic                            $   0.34  $   0.20  $        0.28
   Diluted                          $   0.34  $   0.20  $        0.28

 Weighted average common shares:
   Basic                              42,429    42,149         42,360
   Diluted                            42,736    42,398         42,756



SELECTED BALANCE SHEET DATA
                                    --------- ---------
                                    March 31, December
                                       2008    31, 2007
                                    --------- ---------
 Cash and cash equivalents          $ 32,569  $ 18,681
 Accounts receivable, net            118,240   118,581
 Inventories                          73,646    65,675
 Total current assets                239,590   219,936
 Property, plant and equipment, net  121,796   123,647
 Other non-current assets            156,013   155,215
 Total assets                        517,399   498,798

 Current portion long-term debt     $ 43,000  $ 40,000
 Accounts payable                     61,936    53,632
 Total current liabilities           134,270   121,097
 Long-term liabilities                38,444    49,107
 Stockholders' equity                344,685   328,594
 Total liabilities and
  stockholders' equity               517,399   498,798
                                    --------- ---------

SUPPLEMENTAL DATA
                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
                                      2008      2007         2007
                                    --------- --------- --------------
 EBITDA                             $ 30,976  $ 25,468  $      24,355
 EBITA                              $ 25,696  $ 19,608  $      18,818

 Gross margin                           21.6%     19.6%          20.7%
 EBITDA margin                          17.8      14.4           14.5
 Operating margin                       14.0      10.1           10.5

 End Market Breakdown:
                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
                                      2008      2007         2007
                                    --------- --------- --------------

   Networking/Communications              42%       43%            40%
   Aerospace/Defense                      34        28             33
   Computing/Storage/Peripherals          12        13             13
   Medical / Industrial /
    Instrumentation / Other               12        16             14

 Stock-based Compensation:
                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
                                      2008      2007         2007
                                    --------- --------- --------------
   Amount included in:
     Cost of goods sold             $    233  $    187  $         250
     Selling and marketing                73        50             22
     General and administrative          685       423            622
                                    --------- --------- --------------
     Total stock-based compensation
      expense                       $    991  $    660  $         894
                                    ========= ========= ==============


 Operating Segment Data:
                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
    Net sales:                        2008      2007         2007
                                    --------- --------- --------------
    PCB Manufacturing               $148,705  $152,151  $     147,524
    Backplane Assembly                32,570    33,657         27,837
                                    --------- --------- --------------
      Total Sales                    181,275   185,808        175,361
    Inter-Company Sales               (7,204)   (8,911)        (7,895)
                                    --------- --------- --------------
      Total Net Sales               $174,071  $176,897  $     167,466
                                    --------- --------- --------------

    Operating Segment Income:
    PCB Manufacturing               $ 22,679  $ 16,367  $      17,055
    Backplane Assembly                 2,704     2,452          1,534
                                    --------- --------- --------------
      Total Op Segment Income         25,383    18,819         18,589
    Amortization of Intangibles         (947)   (1,025)        (1,036)
                                    --------- --------- --------------
      Total Op Income                 24,436    17,794         17,553
    Total Other Income (Expense)      (1,551)   (4,339)        (2,534)
                                    --------- --------- --------------
    Income Before Income Taxes      $ 22,885  $ 13,455  $      15,019
                                    ========= ========= ==============

RECONCILIATIONS(a)
                                    ------------------- --------------
                                       First Quarter    Fourth Quarter
                                    ------------------- --------------
                                      2008      2007         2007
                                    --------- --------- --------------
 EBITA/EBITDA reconciliation:
   Net income                       $ 14,372  $  8,465  $      11,833
   Add back items:
     Income taxes                      8,513     4,990          3,186
     Interest expense                  1,835     5,098          2,734
     Amortization of intangibles         976     1,055          1,065
                                    --------- --------- --------------
   EBITA                              25,696    19,608         18,818

   Depreciation expense                5,280     5,860          5,537
                                    --------- --------- --------------
   EBITDA                           $ 30,976  $ 25,468  $      24,355
                                    ========= ========= ==============

 (a) This information provides a reconciliation of EBITA/EBITDA to the
  financial information in our consolidated statements of operations.


 "EBITDA" means earnings before interest expense, income taxes,
  depreciation and amortization. "EBITA" means earnings before
  interest expense, income taxes and amortization. We present EBITDA /
  EBITA to enhance the understanding of our operating results. EBITDA
  / EBITA is a key measure we use to evaluate our operations. In
  addition, we provide our EBITDA / EBITA because we believe that
  investors and securities analysts will find EBITDA / EBITA to be a
  useful measure for evaluating our operating performance and
  comparing our operating performance with that of similar companies
  that have different capital structures and for evaluating our
  ability to meet our future debt service, capital expenditures, and
  working capital requirements. However, EBITDA / EBITA should not be
  considered as an alternative to cash flows from operating activities
  as a measure of liquidity or as an alternative to net income as a
  measure of operating results in accordance with accounting
  principles generally accepted in the United States of America.

SOURCE: TTM Technologies, Inc.

TTM Technologies, Inc.
Steve Richards, Chief Financial Officer, 714-241-0303
investor@ttmtech.com
or
Investors and Media:
Guerrant Associates
Laura Guerrant, 808-882-1467
lguerrant@guerrantir.com

TTM expects to use a portion of the net proceeds of the offering to pay the cost of the convertible note hedge transactions. This cost will be partially offset by proceeds that TTM expects to receive from the sale of the warrants. If the underwriters exercise their option to purchase additional notes, TTM may use a portion of the net proceeds from the sale of additional notes to enter into additional convertible note hedge transactions. TTM may also enter into additional warrant transactions, which would result in additional proceeds to TTM. TTM expects to use the proceeds from the offering remaining after the net cost of the convertible note hedge transactions and the warrant transactions to repay in full its term loan under its senior credit facility, and to use the remaining net proceeds for general corporate purposes, including potential acquisitions.

This press release is neither an offer to sell nor a solicitation of an offer to buy the notes, nor shall there be any sale of the notes, in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Any offers of the notes will be made only by means of a prospectus supplement and related prospectus, copies of which may be obtained by contacting JPMorgan, National Statements Processing, 4 Chase Metrotech Center, Floor L2, Brooklyn, New York 11245 or by calling (718) 242-8002.

Safe Harbor Statement

This press release contains forward-looking statements. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties, and assumptions, including the risk that TTM may be unable to complete the offering of the notes. Other information on potential risk factors that could affect TTM, its business, and its financial results are detailed in the company's periodic filings with the SEC, including, but not limited to, those risks and uncertainties listed in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," which can be found in TTM's quarterly report on Form 10-Q for the quarter ended March 31, 2008 filed with the SEC on May 7, 2008. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. TTM undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

About TTM

TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. TTM stands for time-to-market, representing how the company's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.

SOURCE: TTM Technologies, Inc.

TTM Technologies, Inc.
Steve Richards, 714-241-0303
Chief Financial Officer
investor@ttmtech.com
or
Guerrant Associates
Laura Guerrant, 808-882-1467 (Investors and Media)
lguerrant@guerrantir.com

The company said it also intends to carry out convertible note hedge transactions in a bid to reduce the potential dilution to TTM common stockholders that would occur upon the conversion of these notes.

TTM added that it expects to enter into warrant transactions concurrently with the offering, which would result in additional proceeds to the company.

The company said it expects to use a portion of the net proceeds of the offering to pay the cost of the convertible note hedge transactions. mark.cotton@thomsonreuters.com mc1/rw

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