Benchmark Electronics Q1 Profit Drops

(RTTNews) - Benchmark Electronics Inc. (BHE) reported that its first-quarter net income dropped to $3.85 million or $0.10 per share from $13.77 million or $0.34 per share in the prior year.

Sales for the quarter declined to $514.96 million from $602.82 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share and revenues of $519.33 million for the quarter. Analysts' estimates typically exclude special items.

The company said it is unable to forecast its financial and operational results for the second quarter of 2020, due to the effects of the COVID-19 pandemic and the unpredictable impact on operations due to government enacted plant shut downs and shelter in place restrictions.