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29.07.2020 22:10
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PR Newswire
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Benchmark Reports Second Quarter 2020 Results
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PR Newswire
TEMPE, Ariz., July 29, 2020
TEMPE, Ariz., July 29, 2020 /PRNewswire/ -- Benchmark Electronics, Inc. (NYSE: BHE) today announced financial results for the second quarter ended June 30, 2020.
| | | Three Months Ended | |||||
| | | Jun 30, | | | Mar 31, | | Jun 30, |
| In millions, except EPS | 2020 | | | 2020 | | 2019 | |
| Sales | $491 | | | $515 | | $602 | |
| Net income (loss)(2) | $(3) | | | $4 | | $9 | |
| Net income – non-GAAP(1)(2) | $3 | | | $8 | | $14 | |
| Diluted earnings (loss) per share(2) | $(0.09) | | | $0.10 | | $0.24 | |
| Diluted EPS – non-GAAP(1)(2) | $0.07 | | | $0.22 | | $0.36 | |
| Operating margin(2) | (0.4)% | | | 1.3% | | 2.0% | |
| Operating margin – non-GAAP(1)(2) | 1.2% | | | 2.3% | | 3.1% | |
| | |
| (1) | A reconciliation of GAAP and non-GAAP results is included below. |
| (2) | Results for the second quarter ended June 30, 2020 include the impact of approximately $4.1 million of COVID-19 related costs. |
"Thanks to the commitment and tireless work of our global Benchmark team, we continue to successfully navigate this challenging pandemic environment. Protecting our people remains our highest priority and we will continue our vigilance to keep people safe and our locations operational," said Jeff Benck, Benchmark President and CEO.
"Despite the current macro conditions, our team has focused on delivering products to meet the needs of our customers. Our diversified portfolio remains a strength at this time as we saw strong second quarter growth in our Medical and Semi-cap sectors. Moving into the third quarter, we expect sequential improvements in revenue, profit and utilization underpinned by stronger demand from our Semi-Cap and Defense customers where we have industry leading positions."
| Cash Conversion Cycle | |||||||||||
| | |||||||||||
| | | Jun 30, | | | | Mar 31, | | | | Jun 30, | |
| | | 2020 | | | | 2020 | | | | 2019 | |
| | | | | | | | | | |||
| Accounts receivable days | | 55 | | | | 56 | | | | 54 | |
| Contract asset days | | 28 | | | | 28 | | | | 23 | |
| Inventory days | | 72 | | | | 65 | | | | 52 | |
| Accounts payable days | | (61) | | | | (61) | | | | (60) | |
| Customer deposits | | (10) | | | | (7) | | | | (3) | |
| Cash Conversion Cycle days | | 84 | | | | 81 | | | | 66 | |
| Second Quarter 2020 Industry Sector Update | ||||||||||||||||||
| Revenue and percentage of sales by industry sector (in millions) was as follows. | ||||||||||||||||||
| | ||||||||||||||||||
| | | | Jun 30, | | | | Mar 31, | | | | Jun 30, | | ||||||
| | Higher-Value Markets | | 2020 | | | | 2020 | | | | 2019 | | ||||||
| Medical | $ | 135 | | 27 | % | | $ | 118 | | 23 | % | | $ | 114 | | 19 | % Werbung Mehr Nachrichten zur Benchmark Electronics Aktie kostenlos abonnieren
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