Benchmark reports record sales and earnings for Q3
Oct 22, 2004
Benchmark Electronics, Inc., (NYSE: BHE) announced sales revenue of $505 million for the quarter ended September 30, 2004, compared to $455 million for the same quarter last year. Third quarter net income was $18.0 million, or $0.43 per diluted share. In the comparable period last year, net income was $12.9 million, or $0.32 per diluted share.
"This quarter was once again challenging and it was rewarding to see the performance of the Benchmark team. We have expanded existing relationships, added new customers and ramped programs at a strong pace this year and continued to deliver strong results," commented Cary T. Fu, President and CEO of Benchmark Electronics, Inc.
Third Quarter 2004 Financial Highlights
-- Operating margin improved slightly to 4.75%.
-- Return on invested capital of 14.0%.
-- Cash balance at September 30, 2004 of $312 million.
-- No bank debt outstanding as of September 30, 2004.
-- Accounts receivable were $260 million at September 30, 2004; calculated days sales outstanding were 46 days.
-- Inventories increased by $13 million to $290 million; inventory turns were 6.4 times.
Fourth Quarter 2004 Guidance
-- Revenue in the fourth quarter of 2004 is expected to be between $505 million and $530 million.
-- Earnings per share for the fourth quarter of 2004 are expected to be $0.41 to $0.45 per diluted share.