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Benchmark Trims Q1 Guidance on Softer Demand
April 11, 2011 | PR NewswireEstimated reading time: 1 minute
Benchmark Electronics, Inc., lowered its guidance for the first quarter of 2011 due to softer than projected demand and temporary inventory corrections from some of its customers.
Based on preliminary information, sales for the first quarter of 2011 are expected to be approximately $540 million. The company anticipates a reversal of this sales decline and expects a rebound in the second quarter. Diluted earnings per share for the first quarter, excluding special items, are expected to range from $0.23 and $0.26.
These results are preliminary and therefore subject to the company's completion of its first quarter closing and review procedures. At this time, the company is finalizing its financial results for the first quarter of 2011 and will report those results on April 28, 2011. A conference call hosted by Benchmark management will be held on April 28, 2011 at 10:00 a.m. (Central time) to discuss the financial results of the company and its current outlook. This call will be broadcast via the Internet and may be accessed by logging on to www.bench.com.
About Benchmark Electronics
Benchmark Electronics, Inc. provides integrated electronics manufacturing, design and engineering services to OEMs of computers and related products for business enterprises, medical devices, industrial control equipment, testing and instrumentation products and telecommunication equipment. Benchmark's global operations include 21 facilities in ten countries. Benchmark's Common Shares trade on the New York Stock Exchange under the symbol BHE. For more information, visit http://www.bench.com/.