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

Print


Suggested Items

Now Playing: Part 3 of 'Predicting Reliability in Electronics' Micro Webinar

12/01/2021 | I-Connect007 Editorial Team
In this engaging, 11-part micro webinar series, topic experts Graham Naisbitt and Chris Hunt examine the history of the influences of Electrochemical Migration (ECM) and the evolving use of Surface Insulation Resistance Testing (SIR) that has been developed over the past 25 years by GEN3 and its association with the British National Physical Laboratory. GEN3 and NPL have created the standard that has now been in widespread use around the world since the turn of the millennium. The third episode, “ECM Examples,” can be viewed in under five minutes. Presenters share information on ECM types, including examples from Bosch, HP, and NP. Presenters also discuss ECM requirements and more.

Now Playing: ‘Predicting Reliability in Electronics’ Presented by the Experts at GEN3

11/24/2021 | I-Connect007 Editorial Team
In this engaging, 11-part micro webinar series, topic experts Graham Naisbitt and Chris Hunt examine the history of the influences of Electro-chemical Migration (ECM) and the evolving use of Surface Insulation Resistance Testing (SIR) that has been developed over the past 25 years by GEN3 and its association with the British National Physical Laboratory. GEN3 and NPL have created the standard that has now been in widespread use around the world since the turn of the millennium. The second episode, “Electrochemical Reliability and SIR,” can be viewed in under 15 minutes. Presenters share information on research conducted by NPL as a pan-European project, provide an explanation of ECM as corrosion, discuss the meaning of objective evidence, and more.

Emerging Engineers: Raviteja Boyana

04/01/2021 | Raviteja Boyana
Recent engineering graduate Raviteja Boyana discusses IPC's Emerging Engineer program and the IPC Education Foundation Scholarship, along with his mentorship with Gen3's Graham Naisbitt. Ravi has already found a job in the industry with Maxim Integrated.



Copyright © 2021 I-Connect007. All rights reserved.