Company: TTMI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024839
Chunk: 97

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 97
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19.5

    18.5

    18.4

    Operating expenses:

    Selling and marketing

    3.3

    3.4

    3.0

    General and administrative

    7.0

    6.7

    6.4

    Research and development

    1.3

    1.2

    1.0

    Amortization of definite-lived intangibles

    1.4

    2.2

    1.5

    Impairment of goodwill

    1.3

    2.0

    —

    Restructuring charges

    0.4

    1.1

    0.2

    Gain on sale of Shanghai E-MS (SH E-MS) property

    —

    —

    (2.1
    )

    Total operating expenses

    14.7

    16.6

    10.0

    Operating income

    4.8

    1.9

    8.4

    Other (expense) income:

    Interest expense

    (2.0
    )

    (2.2
    )

    (1.8
    )

    Loss on extinguishment of debt

    —

    (0.1
    )

    —

    Gain on sale of subsidiary

    —

    0.1

    —

    Other, net

    0.6

    0.3

    0.7

    Total other expense, net

    (1.4
    )

    (1.9
    )

    (1.1
    )

    Income before income taxes

    3.4

    —

    7.3

    Income tax provision

    (1.1
    )

    (0.9
    )

    (3.5
    )

    Net income (loss)

    2.3
     
    %

    (0.9
    )
    %

    3.8
     
    %

The Telephonics acquisition occurred on June 27, 2022. Accordingly, our fiscal year 2022 only includes Telephonics’ 2022 results of operations since the acquisition date. As of the fourth quarter of 2022, we completed our integration of Telephonics and reassessed our reportable