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Benchmark Electronics, Inc. (NYSE: BHE) is a leading provider of comprehensive electronic manufacturing services (EMS) and precision technology solutions. As a multi-national corporation with a revenue exceeding $2.47 billion, Benchmark operates manufacturing sites across various global locations, including the United States, Mexico, Brazil, Romania, Netherlands, China, Singapore, Malaysia, and Thailand.
Benchmark specializes in offering a full suite of services that span the entire product lifecycle. These include design, manufacturing, testing, system assembly, order fulfillment, and warranty repair services tailored for a diverse range of electronic original equipment manufacturers (OEMs). The company's key market sectors consist of high-end computing and servers, medical technologies, telecommunications, test and measurement, industrial controls, and military/aerospace.
Benchmark's success is underpinned by its advanced technology, quality systems, and robust supply chain management capabilities. The corporation's extensive global footprint allows it to leverage economies of scale, benefiting from optimized purchasing power and world-class manufacturing processes.
In recent years, Benchmark has achieved notable milestones, including navigating supply chain challenges and operational efficiencies that have bolstered its financial performance. For example, in the second quarter of 2023, Benchmark exceeded its revenue and non-GAAP operating income guidance ranges, showcasing its resilience and strategic execution.
Currently, the corporation is well-positioned for future growth, with ongoing investments in diversified portfolios and high-complexity growth opportunities. Despite dynamic market conditions, Benchmark remains focused on delivering continued operating leverage and capturing significant market share within its targeted sectors.
Financially, Benchmark has demonstrated solid performance, with continuous improvements in gross and operating margins, positive cash flow from operations, and strategic reductions in inventory. The company's commitment to operational efficiency and strategic growth ensures long-term value for both customers and shareholders.
Benchmark's global operations, cutting-edge technology services, and high-quality manufacturing capabilities underline its significant role in the EMS industry. With a dedicated team and strong leadership, the company continues to drive innovation and efficiency, maintaining its status as a trusted partner for both established and emerging markets.
Benchmark Electronics (NYSE: BHE) announces support for ZOLL Medical Corporation in boosting the production of EMV+ ventilators amid the COVID-19 pandemic. The collaboration aims to enhance the availability of these life-saving devices, responding to a government request for increased ventilator supply. Benchmark efficiently scaled operations, setting up manufacturing lines in just six weeks, ensuring high-quality standards. This partnership highlights Benchmark’s expertise in medical equipment manufacturing and commitment to supporting healthcare during critical times.
Benchmark Electronics (NYSE: BHE) will announce its third quarter 2020 results on Wednesday, October 28, 2020, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results.
The live webcast and reference materials can be accessed via the Company’s website. A replay will be available until November 4, 2020.
Benchmark offers solutions across various industries including aerospace, defense, and medical, supported by a global supply chain.
Benchmark Electronics has declared a quarterly dividend of $0.16 per share, set for payment on October 14, 2020. The record date for shareholders is September 30, 2020. This decision reflects the company's commitment to providing consistent returns to its shareholders. Benchmark operates globally, offering solutions in industries such as aerospace, defense, and medical. With facilities in seven countries, the company continues to leverage its engineering and manufacturing expertise.
Benchmark Electronics, Inc. (NYSE: BHE) has partnered with DnaNudge to manufacture the CovidNudge RT-PCR COVID-19 testing system, which requires no lab and delivers results in just over an hour. The U.K. government has ordered 5.8 million test kits for NHS hospitals starting September 2020, following successful validation. Benchmark's involvement includes optimizing design and supply chain services, enabling rapid production. This partnership aims to meet the rising global demand for COVID-19 testing.
COMSovereign Holding Corp. has expanded its partnership with Benchmark Electronics (BHE) to enhance manufacturing capacity for its DragonWave Harmony Enhanced MC model radios, aimed at mobile network backhaul infrastructure. This move comes as demand rises for high-capacity solutions to support the transition to 5G technology. By selecting Benchmark, COMSovereign aims to ensure timely delivery of its products starting in September. Benchmark's expertise in global radio manufacturing is expected to help COMSovereign convert its growing backlog into sales efficiently.
Benchmark Electronics reported a second quarter net loss of $3 million, a drop from $9 million in 2019. Sales for the quarter were $491 million, down from $602 million year-over-year, influenced by COVID-19 costs of approximately $4.1 million. The operating margin fell to (0.4)% compared to 2.0% last year. However, a strong performance was noted in the Medical and Semi-cap sectors, projecting revenues in the third quarter between $490 - $530 million and GAAP EPS between $0.21 - $0.26.
Benchmark Electronics (NYSE: BHE) has completed phase two of a five-phase project to deliver Mobile Video Surveillance Systems (MVSS) to the Department of Homeland Security, receiving an order for 137 new systems. This initiative supports U.S. Border Patrol operations, enhancing situational awareness and safety for agents. The MVSS incorporates advanced technology, including infrared cameras and PureActiv™ software, to provide real-time tracking of intruders over six miles. The remaining units are set for delivery by the end of 2021, emphasizing Benchmark's commitment to providing timely, U.S.-manufactured solutions.
Benchmark Electronics (NYSE: BHE) will release its second quarter 2020 results on July 29, 2020, after market close. A conference call to discuss the results is set for 5:00 p.m. Eastern Time on the same day. Interested parties can access the live webcast and related materials at Benchmark's website. A replay will be available until August 5, 2020. Benchmark specializes in innovative technology and engineering design services, serving sectors like aerospace, defense, and advanced computing.
Benchmark Electronics (NYSE:BHE) has partnered with CoreKinect to enhance the design and manufacturing of Internet of Things (IoT) products in the USA. The collaboration leverages Benchmark's state-of-the-art facility in Phoenix, Arizona, known for its lower business costs and skilled workforce. This partnership aims to deliver fully customized hardware solutions across various sectors, including aerospace, defense, and healthcare. With rising demand for IoT solutions, Benchmark emphasizes its investments in capabilities to meet customer needs efficiently.
Benchmark Electronics, Inc. (NYSE: BHE) has declared a quarterly dividend of $0.16 per share. This dividend will be payable on July 14, 2020 to shareholders recorded by the close of business on June 30, 2020.
Benchmark operates across various industries including commercial aerospace, defense, medical technologies, and semiconductor capital equipment, showcasing its extensive global operations in seven countries.
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