ANGLETON, TX -- Benchmark Electronics reported fourth-quarter net income of $19 million, up 11.8% year-over-year.

For the quarter ended Dec. 31, the electronics contract manufacturing provider announced sales of $627 million, up 4.5% from last year.

Excluding special items, the EMS company would have reported net income of $23 million. Net income for the quarter includes $2 million in foreign currency losses.

Operating margin for the fourth quarter was 3.3%. Cash flow from operations was $10 million. Inventory was $362 million at Dec. 31; inventory turns were 6.4 times.

Net income for the year rose 50% to $81 million on Sales for the year were $2.4 billion, up 14.3%. Excluding special items, the company would have reported net income of $86 million.

"We saw a strong close to the fourth quarter due to increased demand from our computing customers," said chief executive Cary T. Fu. "Our 2010 new program wins and our recent precision technology services expansion will position us for continued revenue growth in the second half of 2011."

Computers make up Benchmark's largest sector, at 33% of revenue. Industrial controls are at 24%, followed by telecom (22%), testing and instrumentation (11%) and medical (10%).

Benchmark guided for first-quarter sales of $565 million to $605 million.

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