Benchmark Announces $720M in Q3 Sales
TEMPE, AZ – Benchmark Electronics' third quarter revenue of $720 million represented a 6.7% year-over-year decline.
The drop in revenue was primarily due to a quarter-over-quarter and year-over-year decrease in the company's Advanced Computing segment of 19% and 30%, respectively, due to completion of a high performance compute program, partially offset by an increase in A&D of 24% and 16%, respectively, the company said.
For the fourth quarter, the company projects revenue between $675 million and $725 million.
"Benchmark's strategy is to serve high-complexity growth opportunities within our targeted sectors. This focus, coupled with the team's commitment to operational improvement, enabled us to deliver another set of strong results in the third quarter," said Jeff Benck, Benchmark's president and CEO. "I am proud of the team's continued execution despite the dynamic market environment. Looking forward, we remain focused on delivering continued operating leverage and believe we are well positioned to capitalize on the opportunities in front of us."
