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Electronics Production | April 23, 2009

Benchmark Electronics post lower sale in Q1, but makes long-term investments

Benchmark Electronics reported a sales of $497 million for the quarter ended March 31, 2009, compared to $684 million for the same quarter in the prior year.
The Company reported first quarter net income of $9 million. In the comparable period of 2008, net income was $22 million. Excluding restructuring charges, the Company would have reported net income of $10 million, in the first quarter of 2009.

"Our diversification has not provided us with immunity from the broad-based economic downturn as end market demand decreased in the first quarter," said Cary T. Fu, the Company’s Chief Executive Officer. "We have seen challenging economic cycles before and our teams are focused on serving our customers, generating cash flows and reducing costs. We still see significant outsourcing opportunities, which have resulted in another solid quarter of new program wins. Despite the present challenging environment, we are making long-term investments to position ourselves for continued growth when the recovery occurs."

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