Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© jakub-krechowicz-dreamstime.com Electronics Production | April 25, 2013

Benchmark Electronics' revenue: within expectations

Benchmark Electronics first quarter revenue followed the company's expectations - but still, 9% lower than what we saw from them during the same period last year.
Net sales were at USD 542 million, a drop from both the previous quarter (USD 634 million) and Q1 of 2012 of USD 593 million.

Net income landed on USD 11 million, up from the same period last year of USD 6 million.

“First quarter revenues and earning were in line with out expectations,” said Gayla J. Delly, the company's Chief Executive Officer. “There results were driven by our teams' continued ability to execute effectively in the current uncertain global economic environment. Against these headwinds, contributions from new program ramps, operational excellence and strength in new program wins provide good momentum for future growth. As we look ahead, we expect second quarter revenues in the range of USD 590 million and diluted earnings per share (excluding restructuring and Thailand flood related items) between USD 0.25 and USD 0.30.”

First quarter 2013 highlights.
  • Revenue of USD 542 million included the anticipated softness in the computing and related products industry sector.
  • Cash flows provided by operating activities for Q1 2013 were approximately USD 49 million. There were no Thailand flood insurance recoveries during Q12013 and the recovery process with the insurance carriers is ongoing.
  • Cash and long-term investments balance was USD 427 million at March 31, 2013.

Outlook:

Revenue between USD 560 and USD 590 million.
Ad
Ad
Ad
Ad
Load more news
November 15 2018 5:25 pm V11.9.0-2