Benchmark Reports Second Quarter 2021 Results


Reading time ( words)

Benchmark Electronics, Inc. announced financial results for the second quarter ended June 30, 2021.

"In the second quarter, we delivered double digit revenue growth year-over-year from continued strength in the Semi-Cap market, improving Industrials demand, and strength in the Telecommunications sector," said Jeff Benck, Benchmark's President and CEO.  "Additionally, we expanded gross and operating margins supported by our strong revenue growth."

"I am particularly pleased with our team's execution in the quarter given the challenges related to the global supply chain constraints and facility disruptions in Malaysia related to the pandemic.  Strong end market demand, new program ramps, and operational execution provide momentum for sequential growth in revenue and gross margins through the balance of 2021."

Second Quarter 2021 Industry Sector Update

Overall, higher-value market revenues were up 9% quarter-over-quarter and 12% year-over-year from growth in semi-cap, industrials and A&D. Traditional market revenues were flat quarter-over-quarter and up 7% year-over-year primarily from growth in the telecommunications sector.

Third Quarter 2021 Outlook 

  • Revenue between $555 - $595 million
  • Diluted GAAP earnings per share between $0.27 - $0.35
  • Diluted non-GAAP earnings per share between $0.33 - $0.41 (excluding restructuring charges and other costs and amortization of intangibles)
  • This guidance takes into consideration all known constraints for the quarter and assumes no further significant interruptions to our supply base, operations or customers. Guidance also assumes no material changes to end market conditions due to COVID-19.
  • Restructuring charges are expected to range between $0.8 million and $1.2 million in the third quarter and the amortization of intangibles is expected to be $1.7 million in the third quarter.

 

Share




Suggested Items

SMTA International 2023 Conference Program Highlights

09/12/2023 | SMTA
The program for the SMTA International Technical Conference is finalized with 90 great papers presented across 30+ sessions. Each session features two to four presentations on a related topic and is organized into the following tracks. Check it out!

An Invitation from SMTA President Martin Anselm

09/06/2023 | Martin Anselm, SMTA
As the current president of SMTA, I’d like to extend an invitation to everyone in the electronics manufacturing industry to join us Oct. 9–12, 2023 at the Minneapolis Convention Center in in Minnesota for our flagship event—SMTA International Conference and Exposition. This event is once again co-located with MD&M Minneapolis, providing an intriguing mix of related manufacturing technology cross-over among the respective shows.

An Industry-ready Workforce in India

08/28/2023 | Gaurab Majumdar, Executive Director of IPC India
When young technicians and engineers join a company, they need time to thoroughly understand the production and quality processes. IPC is dedicated to making it easier for new employees to learn these needed skills. An office was set up in India in 2010 and has been instrumental in providing more than 13,000 certifications while connecting with more than 500 electronics manufacturing companies there. This has led to an initiative to train college students through IPC’s workforce development courses.



Copyright © 2023 I-Connect007 | IPC Publishing Group Inc. All rights reserved.