Benchmark Reports First Quarter 2021 Results


Reading time ( words)

Benchmark Electronics, Inc. announced financial results for the first quarter ended March 31, 2021.

"We delivered another solid quarter of revenue, earnings, and cash generation in line with our expectations," said Jeff Benck, Benchmark's President and CEO. "We are particularly pleased with continued strength in the Semi-Cap market where revenues were up 37% year-over-year in the first quarter and are now forecasted to be up greater than 20% for the full year 2021."

Benck continued, "Overall demand across many of our market sectors is strengthening and we expect this to continue through the year. In the near-term, we are proactively working with our customers and suppliers to manage supply chain constraints. We remain focused on our strategic objectives which gives us confidence that we will grow revenue, margins, and earnings in 2021."

Overall, higher-value market revenues were down 4% year-over-year from softness in commercial aerospace (in A&D), industrials and medical elective surgeries. Traditional market revenues were up 8% year-over-year primarily from strength in the computing sector.

Second Quarter 2021 Outlook 

  • Revenue between $515 - $555 million
  • Diluted GAAP earnings per share between $0.18 - $0.24
  • Diluted non-GAAP earnings per share between $0.23 - $0.29 (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 second quarter and the amortization of intangibles is expected to be $1.7 million in the second quarter.

Share

Print


Suggested Items

Excerpt: The Printed Circuit Assembler’s Guide to… Smart Data

04/07/2021 | Sagi Reuven and Zac Elliott, Siemens Digital Industries Software
Whenever we discuss data, keep in mind that people have been collecting data, verifying it, and translating it into reports for a long time. And if data is collected and processes are changed automatically, people still will be interpreting and verifying the accuracy of the data, creating reports, making recommendations, solving problems, tweaking, improving, and innovating. Whatever data collection system is used, any effort to digitalize needs to engage and empower the production team at the factory. Their role is to attend to the manufacturing process but also to act as the front line of communications and control.

Top 10 Most-Read SMT Articles of 2020

12/31/2020 | I-Connect007
As 2020 comes to a close, the I-Connect007 Editorial Team takes a look back at its most read articles. Here are the top 10 reads in SMT from the past year.

Meet Christine Davis, I-Connect007 Columnist

12/23/2020 | I-Connect007 Editorial Team
Meet Christine Davis, one of our newest columnists! Christine will share her expertise and lessons learned through her journey as one of the few women in the electronics industry to found and run her own company.



Copyright © 2021 I-Connect007. All rights reserved.