SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
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Nolan’s Notes: Tariffs, Technologies, and Optimization
Benchmark Electronics Reports Q1 2016 Results
April 21, 2016 | PRNewswireEstimated reading time: 3 minutes
- New program bookings in the first quarter were $110 to $140 million.
- 17 engineering awards supporting early engagement opportunities.
- 27 manufacturing wins across all market sectors.
Margin Improvement Initiatives
Benchmark is accelerating and expanding its cost optimization programs given the weaker near-term demand outlook. Programs for further portfolio diversification into higher-margin sectors, increased emphasis on engineering-led solutions and intense focus on operational excellence initiatives remain active and are expected to increase operating margins in the future. Benchmark remains committed to achieving its longer term 5.0% non-GAAP operating margin target.
Capital Allocation
- First quarter 2016 common share repurchases totaled $14 million or 690,000 shares.
- $120 million remains available under the current share repurchase program.
- Over the past three years, more than 52% of free cash flow has been returned to shareholders through share repurchases.
- Capex totaled $8 million in the first quarter.
Second Quarter 2016 Outlook
- Revenue between $570-$600 million.
- Diluted earnings per share between $0.29-$0.33 (excluding restructuring charges and other costs).
About Benchmark Electronics, Inc.
Benchmark provides integrated manufacturing, design and engineering services to original equipment manufacturers of industrial equipment (including equipment for the aerospace and defense industries), telecommunication equipment, computers and related products for business enterprises, medical devices, and test and instrumentation products. Benchmark's global operations include facilities in seven countries, and its common shares trade on the New York Stock Exchange under the symbol BHE.
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