ANGLETON, TX -- Benchmark Electronics, a leading contract manufacturing provider, reported June quarter sales of $561 million, up 14% from $491 million last year. Second-quarter net income was $18.7 million, up from $17.6 million a year ago.

The results were driven by "significant" new program production, said president and chief executive Cary T. Fu, in a statement. "We expect strong growth and opportunities in the second half of 2005."

Operating margin was 4.1%, impacted by a combination of product pricing and mix and realignment costs of $600,000. The non-GAAP operating margin was 4.3%.

Accounts receivable increased by $43 million during the quarter to $310 million; calculated days sales outstanding were 50 days.

Inventories increased by $17 million to $313 million. Inventory turns were 6.7 times.

Return on invested capital was 13.1%.

As of June 30, Bencmark had cash and short-term investments of $287 million and no outstanding debt.

Benchmark guided for third-quarter revenue of $555 million to $580 million.
   

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