Benchmark Electrs Inc - BHE STOCK NEWS

Titan Medical Inc. (TMDI) has signed a manufacturing and supply agreement with Benchmark Electronics (BHE) for the production of its Enos™ robotic surgical system workstations and patient carts. The partnership aims to support human studies planned for 2023, which are essential for the company's FDA De Novo application for marketing clearance. Benchmark's expertise in complex medical device manufacturing and engineering is expected to enhance the quality and scalability of Titan's production capabilities, reinforcing Titan's position in robotic surgery innovation.

Benchmark Electronics (NYSE: BHE) declared a quarterly dividend of $0.165 per share, payable on January 13, 2022. Shareholders of record will be those holding shares at the market close on December 30, 2021. This dividend underscores the company's commitment to returning value to its shareholders. With operations across seven countries, Benchmark specializes in various sectors, including defense, medical, and telecommunications, providing comprehensive solutions throughout the product life cycle.

Benchmark Electronics (BHE) reported strong Q3 2021 financial results with $572 million in sales, up 5% sequentially and 9% year-over-year. Net income rose to $8 million with a diluted EPS of $0.23. Non-GAAP gross margins improved to 9.4%, and operating margins increased to 3.3% non-GAAP. The company anticipates double-digit year-over-year growth in Q4, with revenues projected between $560 million and $610 million.

Benchmark Electronics (NYSE: BHE) is set to announce its third quarter 2021 results on October 27, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss the results. Investors can access the live webcast and materials through the company's website, with a replay available until November 3, 2021. The company specializes in comprehensive solutions across various industries, including aerospace and medical, showcasing its global operations in seven countries.

Benchmark Electronics (NYSE: BHE) announced the appointment of Ramesh Gopalakrishnan as an independent director on October 11, 2021, while also revealing the retirement of long-serving board member Bruce Carlson on the same date. Gopalakrishnan brings extensive operational and strategic experience from leadership roles at multinational companies, enhancing the Board's capabilities. The Chairman acknowledged Carlson's valuable contributions and wished him well.

Benchmark Electronics, Inc. (NYSE: BHE) announced a quarterly dividend of $0.165 per share, set to be paid on October 14, 2021. Shareholders of record on September 30, 2021 will receive this payment. The company continues to provide innovative technology and engineering design services across various industries, including aerospace and medical sectors.

Benchmark Electronics, Inc. (BHE) announced the appointment of Dave Clark as the new senior vice president and chief procurement officer, effective Sept. 13, 2021. Clark, who brings over 25 years of extensive supply chain experience, will lead the company’s global Supply Chain Management organization. He previously held senior roles in private equity services and at Celestica and Plexus. Clark succeeds John Russell, who transitions to lead the Project Management Office, focusing on new product launches. This leadership change aims to enhance operational excellence across the purchasing value stream.

AEye, Inc. (NASDAQ: LIDR) announced a partnership with Benchmark Electronics (NYSE: BHE) to enhance the manufacturing of its 4Sight LiDAR sensors. This collaboration focuses on producing critical optical components, ensuring quality and rapid scalability for industrial applications. AEye's innovative LiDAR technology offers industry-leading performance validated by third-party labs, designed for various markets, including autonomous vehicles and smart cities. The partnership aims to leverage Benchmark's manufacturing expertise to meet growing demand effectively.

Benchmark Electronics reported a strong performance for the second quarter of 2021, achieving sales of $545 million, a 10.9% increase from $491 million a year earlier. Net income was $7 million, compared to a loss of $3 million in Q2 2020. The company saw positive momentum, particularly in the Semi-Cap, Industrial, and Telecommunications sectors. Operating margins improved to 2.0%, while cash conversion cycle days decreased to 64. Looking ahead, Benchmark anticipates third-quarter revenues between $555 and $595 million.