ANGLETON, TX -- Benchmark Electronics reported sales of $625 million for its fourth quarter, up sharply from $524 million last year. Net income was up $4.5 million, to $24.7 million, for the quarter ended Dec. 31.

The company said it will expand its low-cost capacity while realigning elsewhere, specifically in in the U.K. It said it would take a $3.5 million to $4.5 million pretax charge for the closure of its U.K. facility.

For the year, the EMS company reported sales of $2.3 billion, up 12.8% from the previous year.

Net income was $80.6 million, up from $71 million the prior year.

For the quarter, operating margin was 4.65%. Cash flow from operations was $15 million, bringing the company's balance at year-end to $327 million in cash and short-term investments. Accounts receivables were $366 million as of Dec. 31, while days sales outstanding was 53 days. Inventory turns were 6.4 turns.

The company had inventories of $362 million as of Dec. 31.

The firm guided for first quarter revenues of $590 million to $615 million and full year sales of $2.47 billion to $2.54 billion.

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