-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
Article Highlights
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Benchmark Reports Fourth Quarter, Full Year 2020 Results
February 5, 2021 | Benchmark Electronics Inc.Estimated reading time: 1 minute
Benchmark Electronics, Inc. has announced financial results for the fourth quarter and year ended December 31, 2020.
Fourth quarter 2020 results:
- Revenue of $521 million
- GAAP gross margin of 9.7% and non-GAAP gross margin of 9.6%
- Cash flow generated from operations of $95 million
- GAAP diluted EPS of $0.21 and non-GAAP diluted EPS of $0.34
Full year 2020 results:
- Revenue of $2.1 billion
- Semi-Cap revenue growth of 33% year-over-year
- Medical revenue growth of 11% year-over-year
- Higher-value markets revenue mix greater than 80%
Results for the year ended December 31, 2020 include the impact of approximately $7.1 million of net COVID-19 related costs.
Jeff Benck, Benchmark's President and CEO stated, "We closed out a very challenging year, delivering fourth quarter results that not only met our expectations, but demonstrated sequential improvement in both non-GAAP gross margins at 9.6% and higher non-GAAP earnings at $0.34 enabled by higher-value sector mix and improved utilization across the company. I am very proud of our team, which has proven to be very resourceful and resilient in the face of this pandemic and continues to deliver for our customers."
Benck continued, "Our focused efforts on improving working capital management are also bearing fruit as we generated $95 million of operating cash flow in the quarter and over $120 million for the year, which exceeded our forecast. I look forward to 2021 with optimism knowing that our strategic investments in the business to drive differentiated value and sustainability have solidified a path to achieve revenue, margin, and earnings growth in 2021 aligned with our mid-term financial goals."
Overall, higher-value market revenues were up 6% year-over-year from strength in the Semi-Cap, Medical, and A&D sectors. Traditional market revenues were down from program transitions.
First Quarter 2021 Outlook:
- Revenue between $480 - $520 million
- Diluted GAAP earnings per share between $0.11 - $0.14
- Diluted non-GAAP earnings per share between $0.18 - $0.22 (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 $1.0 million and $2.0 million in the first quarter and the amortization of intangibles is expected to be $2.0 million in the first quarter.
Suggested Items
MKS Instruments Reports Q1 2024 Financial Results
05/09/2024 | MKS Instruments, Inc.MKS Instruments, Inc., a global provider of enabling technologies that transform our world, reported first quarter 2024 financial results.
Punching Out: Breaking Out of the Valuation Box
05/09/2024 | Tom Kastner -- Column: Punching Out!Most companies are in a “valuation box.” That is, the value of the company, based on a market multiple, is not equal to the value of the assets. Or worse, once debt is paid off, the net proceeds would actually be negative. Here are some tips for getting out of the box.
Incap Releases Unaudited Business Review for January–March 2024
05/08/2024 | IncapRevenue for the first quarter 2024 amounted to EUR 51.4 million (1–3/2023: EUR 72.2 million). Year-on-year the revenue decreased 29.3%, as expected.
Schweizer Electronic: Business Development in Q1 2024
05/08/2024 | Schweizer Electronic AGThe sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year.
Key Tronic Announces Results for Q3 of Fiscal Year 2024
05/08/2024 | Globe NewswireFor the third quarter of fiscal year 2024, Key Tronic reported total revenue of $140.5 million, compared to $164.6 million in the same period of fiscal year 2023.