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Electronics Production |
Benchmark's Q4 up 13% from last year
For Benchmark, 2012 contained a lot more than the sluggish economy that everyone else saw. With floods in Thailand, Benchmark had its work cut out, but persevered, and more.
“Our results for the fourth quarter and full year 2012 finished a very successful year for Benchmark,” said Gayla J. Delly, the company's President and CEP. “Our teams executed well in a weak environment, delivering strong revenue and earnings growth and solid cash flow generation. We are well-prepared to meet the macroeconomic challenges in 2013 as we continue to focus on operational excellence and cost-effective solutions for our customers.”
Fourth quarter highlights
- Revenues of USD 634 million, an increase of 4% from Q3 of 2012, and an increase of 13% from Q4 on 2011.
- Operating margin for the fourth quarter was 3.7% excluding restructuring and Thailand flood related charges.
- Cash flow provided by operation activities for Q4 2012 were approximately USD 77 million, including USD 2 million of Thailand flood insurance recoveries for inventory losses.
- Thailand flood related charges included USD 3 million of insurance recoveries in excess of previously recognized inventory and property, plant and equipment losses offset by costs directly attributable to the Thailand flood. Thailand flood insurance recoveries included USD 1 million for property, plant and equipment losses and USD 2 million for inventory losses. The claims and recovery process with our insurance carriers is ongoing.