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Quarterly revenue of USD 603M for Benchmark
Jeff Benck, Benchmark's President and CEO stated, "We delivered a solid first quarter with revenue and earnings in line with our expectations. Revenues were up year-over-year in our targeted A&D, Medical, and Telecommunications markets and non-GAAP gross margins increased 40 bps sequentially to 8.8%."
Benchmark Electronics reported net sales of USD 603 million for the first quarter (ended March 31, 2019), marking a sequential decrease from USD 657 million in 4Q/2018. Net income stood at USD 14 million (50% down sequentially, but a marked increase from the loss of USD 24 million reported for 1Q/2018). Operating margin was reported to be 2.7%; up sequentially from 2.3%. "Since joining Benchmark Electronics, I have visited several of our facilities and have experienced first-hand our unique and differentiated capabilities. I am excited by the talent of our employees across the business and the dedication they bring to solving our customers' most challenging problems. Our advanced design and manufacturing services as well as technology solutions provide a strong foundation for innovation and industry excellence as we enable our customers' new product ideas. Looking ahead, we remain focused on capturing opportunities to grow our revenue, expand our operating margins, and create long-term value for our shareholders." Revenue is estimated to be between USD 555 - 585 million for the second quarter of 2019.
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