| Benchmark's Q2 Profits Soar |
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| Written by Mike Buetow | |||
| Thursday, 29 July 2010 08:57 | |||
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ANGLETON, TX -- Benchmark Electronics reported second-quarter net income of $20.8 million, up 75% over a year ago. For the quarter ended June 30, the contract manufacturer announced sales of $589 million, up 22% from the prior year. "Throughout the second quarter we have seen increases in customer demand," said Cary Fu, chief executive officer. "The supply chain constraints as well as customer mix changes adversely impacted both revenue and inventory levels for the second quarter." The operating margin was 4%, days sales outstanding was 63 days, and cash flow from operations was a loss of $24 million. At quarter's end, the EMS company had cash and long-term investments of $397 million. Inventory turns were 5.6 times. The company guided for third-quarter sales of $590 million to $630 million.
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