Benchmark Electronics (BHE) Tops Q3 EPS by 1c

Benchmark Electronics (NYSE: BHE) reported Q3 EPS of $0.36, $0.01 better than the analyst estimate of $0.35. Revenue for the quarter came in at $574 million versus the consensus estimate of $584.17 million.

GUIDANCE:

Benchmark Electronics sees Q4 2016 EPS of $0.39-$0.43, versus the consensus of $0.41. Benchmark Electronics sees Q4 2016 revenue of $590-610 million, versus the consensus of $608 million.

"In the September quarter, we made good progress on working capital management, reducing our cash conversion cycle by three days and generating $70M of operating cash flow. We modestly expanded operating margins on a sequential basis and delivered on our published guidance. However, the lack of sustained revenue growth continues to be a challenge and a critical focus area for the organization going forward," said Paul Tufano, Benchmark's President and CEO.

Mr. Tufano added, "Since being named Benchmark's CEO four weeks ago, I have traveled to a number of our sites and visited with a variety of customers. I am excited by the capabilities that we possess, the strength of our customer relationships and the commitment of our people. As we look forward, we are defining a clear strategy to accelerate long-term revenue growth aligned to an optimized global footprint that leverages our core strengths in design, electronics manufacturing, and precision technologies to add significant value for our customers and shareholders."

For earnings history and earnings-related data on Benchmark Electronics (BHE) click here.

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