© Electronics Production | February 05, 2013

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.

For the full year, Benchmark's Net sales were USD 2'468 million compared to 2'253 million in 2011. Net income was USD 57 million compared to 52 million in 2011.

2013 Q1 Outlook

Ms. Delly commented: “We believe the increased orders in the fourth quarter contributed to our softer revenue expectations for the first quarter. However, with robust recent bookings, we anticipate rebounding our revenues in 2012 despite the current market headwinds.”
Expected revenues between USD 530 and 560 million


Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
April 25 2018 11:14 am V9.5.0-1