ANGLETON, TX -- Benchmark Electronics reported sales of $561 million for the quarter ended Sept. 30, up 11% from last year. Third-quarter net income was $20.3 million, up 12.7%.

"Our third quarter results are a clear indication that our strategy is working as we delivered double digit growth in sales and net income," said president and CEO Cary T. Fu.

For the quarter, operating margin was 4.4%, and cash flow from operations was $45 million. Return on invested capital was 12.7%, up 150 basis points squentially. Accounts receivable decreased by $8 million, to $302 million, and calculated days sales outstanding were 48 days. Inventories increased by $5 million, to $318 million. Inventory turns were 6.6 times.

At quarter's end, the company had cash and short-term investments of $321 million and no outstanding debt.

Benchmark guided for fourth-quarter revenue of $585 million and $615 million, and earnings per diluted share of $0.49 to $0.54.

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