Benchmark Electronics Reports Second Quarter 2017 Results

SCOTTSDALE, Ariz., July 19, 2017

			Three Months Ended
			Jun 30,			Mar 31,			Jun 30,
In millions, except EPS			2017 ARIVA.DE Börsen-Geflüster Kurse Benchmark Electronics 28,20 € 0,00%			2017			2016
Net sales			$617			$567			$579
Net income			$17			$10			$13
Net income – non-GAAP			$19			$17			$17
Diluted EPS			$0.34			$0.19			$0.26
Diluted EPS – non-GAAP			$0.38			$0.34			$0.35
Operating margin			3.6%			2.2%			3.1%
Operating margin – non-GAAP			4.1%			3.8%			4.2%

A reconciliation of GAAP and non-GAAP results is included below.

"I am very pleased with our second quarter performance; the Company delivered on its commitments and posted strong operational results for the quarter.  Revenue exceeded guidance and reflected year-on-year growth for the second consecutive quarter.  Non-GAAP EPS of $0.38 exceeded the high end of our guidance by $0.03; cash cycle days ended at 65 days, well below our 70 day target; and we achieved 9.5% ROIC, a 50 bps quarter-over-quarter improvement," said Paul Tufano, Benchmark's President and CEO.

"We remain focused on the key initiatives to transform and reposition the Company to achieve our long-term business model objectives, namely the optimization of our global network, the implementation of our market-sector sales organization and the expansion of our engineering solutions capability," added Tufano.  "We are in the process of relocating our corporate headquarters to Arizona and anticipate that the majority of this move will be completed in the third quarter.  I am also very pleased to have Mike Buseman join us as our new head of Global Operations.  Under Mike's leadership, we will look to accelerate our initiatives related to operational excellence and customer experience.  Additionally, our market-sector sales focus is beginning to yield new customer growth, especially in our targeted higher-value markets, as reflected in our bookings for the quarter.  We continue to emphasize engineering-led customer engagements and are aggressively expanding our offerings to provide higher-value propositions to current and potential customers."

Second Quarter 2017 Financial Highlights

• Operating margin was 3.6% (non-GAAP 4.1%).
• Cash flows from operating activities were $15 million.
• Cash conversion cycle improved 18 days from 83 at June 30, 2016 to 65 days at June 30, 2017.
• Cash was $749 million at June 30, of which $92 million was available in the U.S.

Cash Conversion Cycle

Second Quarter 2017 Industry Sector Update
Revenue by industry sector (dollars in millions) was as follows.

			Jun 30,						Mar 31,						Jun 30,
	Higher-Value Markets		2017						2017						2016
Industrials		$	124		20	%		$	118		21	%		$	144		25	%
A&D			100		16				104		18				86		15
Medical			86		14 Werbung Mehr Nachrichten zur Benchmark Electronics Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 02:00 - PR Newswire BlackRock Income and Growth Investment Trust Plc - Total Voting Rights 02:00 - PR Newswire Bodycote Plc - Transaction in Own Shares 18.04.24 - PR Newswire BH Macro Limited - Transaction in Own Shares Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59