TEMPE, AZ – Benchmark Electronics reported second quarter sales of $602 million, down 8.9% year-over-year and 0.17% sequentially.

For the quarter ended June 30, net income was $9 million, a decrease of 18.2% compared to the same period in 2018 and down 35.7% sequentially.

"We delivered solid results in the quarter, reflecting both year-over-year and sequential non-GAAP operating margin growth,” said Jeff Benck, Benchmark's president and CEO.  “More importantly, non-GAAP gross margins were over 10%, excluding our legacy computing contract revenue, which reflects the potential leverage in our model with an improving portfolio. We also refined our strategic priorities for the coming year, and we made progress on these initiatives in the quarter.

"I am excited about the recent executive leadership additions of our chief revenue officer, Rob Crawford, and chief human resources officer, Rhonda Turner."

During the second quarter, the firm had new program orders of approximately $130 million of projected annualized revenue.

For the third quarter, Benchmark Electronics expects revenue between $525 million and $555 million.

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