Benchmark’s Q4 Sales Down 6.2%
ANGLETON, TX – Benchmark Electronics reported fourth quarter net sales ended Dec. 31 of $710 million, down 6.2% year-over-year.
Sequentially, sales were down 2.9%.
Net income for the quarter was $24 million, a decrease of 64.2% compared to 2013, and up 41.2% sequentially.
For 2014, net sales were nearly $2.8 billion, up 11.6% year-over-year. Net income was $82 million, down 26.1% compared to 2013.
"Although computing and telecom demand was weaker than expected in the fourth quarter, it was offset by new program ramps and increased demand in our nontraditional markets,” said CEO Gayla Delly. “Combining another quarter of solid operational performance with this favorable business mix, we achieved a 4% operating margin. For the full year, we enjoyed robust 12% revenue growth, strong operating cash flows of $137 million, and improved margins of 3.9%."
The electronics manufacturer expects first quarter revenue between $615 million and $645 million.
"Our first quarter guidance reflects lingering headwinds in computing and telecom; however, we expect growth to resume in these sectors in the second half of the year,” said CFO Don Adam. “For 2015, we anticipate that our nontraditional revenue base of industrial, medical, and test and instrumentation will continue to strengthen."
