Benchmark Electronics, Inc.
Sales for the first quarter ending March 31, 2001 will be in the range of $440 million to $445 million. Diluted earnings per share, excluding restructuring charges are expected to be in a range of $0.30 - $0.32. Second quarter earnings, excluding restructuring charges are currently expected to be in the range of $0.16 - $0.20 based on revenues in the range of $400 million to $420 million.
The Company has recently begun undertaking steps to align its cost structure with the current revenue outlook provided by customers. The Company estimates the restructuring charges, which will be recognized as a result of re-aligning the cost structure to be in the range of $4 million to $6 million.
Donald E. Nigbor, president and CEO of Benchmark Electronics, Inc. commented: "Over the last 20 years we have successfully managed through several business cycles by remaining focused on customer satisfaction, cost controls, and expanding our customer base. Our team is very experienced and well prepared to manage the challenges and opportunities we face in the current business environment. We continue to believe that the trend towards outsourcing will grow and that our customer base of leading players in the technology marketplace will drive the technology trends."
This news release contains certain forward-looking statements within the scope of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "expect," "estimate," "anticipate," "predict," and similar expressions, and the negatives of such expressions, are intended to identify forward-looking statements. Although the Company believes that these statements are based upon reasonable assumptions, such statements involve risks, uncertainties and assumptions, including but not limited to industry and economic conditions, customer actions and the other factors discussed in Benchmark's Form 10-K for the year ended December 31, 2000 and its other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Benchmark Electronics, Inc. is in the business of manufacturing electronics and provides its services to original equipment manufacturers of telecommunication equipment, computers and related products for business enterprises, video/audio/entertainment products, industrial control equipment, testing and instrumentation products, personal computers and medical devices. Benchmark's global operations include 16 facilities in six countries. Benchmark's Common Stock trades on the New York Stock Exchange under the symbol BHE.
SOURCE: Benchmark Electronics, Inc.
Contact: Cary T. Fu, Executive Vice President, or Gayla J. Delly, Vice
President Finance, both of Benchmark Electronics, 979-849-6550