Benchmark Electronics Q1 Profit Rises

(RTTNews) - Benchmark Electronics Inc. (BHE) on Wednesday reported first-quarter net income of $8 million or $0.22 per share, up from $4 million or $0.10 per share in the year-ago quarter.

On an adjusted basis, net income was same as the comparable quarter last year at $8 million. On a per share basis, adjusted income fell to $0.21 from $0.22 a year ago. On average, 3 analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share in the quarter. Analysts' estimates, usually exclude one-time items.

Quarterly revenues, however, declined to $506 million from $515 million in the prior-year period, while analysts were looking for revenues of $502.3 million in the period.

Looking ahead forward to the second quarter, the company expects earnings per share in the range of $0.18 and $0.24.

Adjusted earnings per share is expected between $0.23 and $0.29. On average, 3 analysts expect the company to report earnings of $0.24 per share in the second quarter.

Revenues are expected between $515 million and $555 million in the second quarter, while analysts expect revenues of $515.7 million for the period.