Electronics Production | October 19, 2006
Benchmark increase results
Benchmark Electronics, Inc., a US based contract manufacturing provider, announced sales of $770 million for the quarter ended September 30, 2006, compared to $561 million for the same quarter last year.
Third quarter net income was $29.3 million, or $0.45 per diluted share. In the comparable period last year, net income was $20.3 million, or $0.32 per diluted share. Excluding restructuring charges and the impact of stock-based compensation expense, the Company had net income before special items of $30.0 million, or $0.46 per diluted share, in the third quarter of 2006. All share and per share data appearing in this press release has been retroactively adjusted for the 3-for- 2 stock split completed on April 3, 2006 to holders of record as of March 27, 2006. "Our teams continued to deliver solid results during the quarter, while running at record levels. Our focus will be on working capital metric improvements during upcoming quarters in addition to our ongoing focus on volume ramps of programs," stated Benchmark's President and CEO Cary T. Fu.