TEMPE, AZ – Benchmark Electronic's third quarter revenue of $658 million represented a decline of 8.6% from the same quarter in 2023.

The company said the year-over-year decrease came primarily from decreases in Medical and AC&C sales, which were partially offset by increases in Semi-Cap and A&D sales.

"Our third quarter results represent the 16th consecutive quarter of non-GAAP operating margin expansion on a year-over-year basis. These results coupled with our focused working capital initiatives, has enabled us to deliver $245 million of positive free cash flow over the last 12 months," said president and CEO Jeff Benck. "I would again like to welcome our new CFO, Bryan Schumaker, to the company. I am confident with his background and experience he will play a key role in helping drive continued operational excellence as we embark on our next phase of growth."

For the fourth quarter, the company projects revenue between $640 million and $680 million.