Benchmark Electronics, Inc. (BHE), an integrated contract manufacturing provider, Thursday announced a sharp decline in second quarter net income to $8 million or $0.16 per share from $14 million or $0.24 per share last year. Adjusted earnings were $17 million or $0.31 per share in comparison with $18 million or $0.32 per share last year.
On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.27 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the quarter declined to $608 million from $630 million in the previous year. Sequentially revenue was up 12 percent. Wall Street was looking for $573.39 million.
President and CEO Gayla J. Delly said, "... the current macro environment provides limited visibility, we continue to see good long-term opportunities with new and existing customers."
For the third quarter, the company expects earning per share, excluding restructuring and Thailand flood related items, in a range of $0.28 to $0.32. Analysts expect $0.29 per share.
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