Benchmark Electronics, Inc. · NYSE:BHE

Benchmark Electronics — Q1 2015 Earnings Presentation

14 slides from Benchmark Electronics's earnings presentation, Apr 23, 2015

  1. Slide 1: First Quarter 2015 Earnings Release Conference Call

    First Quarter 2015 Earnings Release Conference Call April 23, 2015

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This document contains 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 thereof, often identify forward-look

  3. Slide 3: First Quarter 2015 Highlights

    First Quarter 2015 Highlights  Consistent Performance in Q1 2015  Operating margin at 3.8% - a 20 basis point year-over-year improvement  Generated non-GAAP EPS of $0.34  Purchased 662,500 shares of our common stock for $15.8 million during the quarter design develop deliver advanced technology

  4. Slide 4: Portfolio Trends

    Portfolio Trends Traditional Market Revenue Higher Growth Market Revenue 3-Year CAGR = 5% 3-Year CAGR = 10% (Computing & Telecom) (Industrial, Medical & T&I)  Expected Q1 seasonal demand in traditional markets coupled with softness during product transitions  Sales in higher growth markets >50% of

  5. Slide 5: First Quarter 2015 New Business Wins

    First Quarter 2015 New Business Wins Q1 2015 Number of New Quarterly Estimated Annual Revenue Business Wins by Segment Run Rate for New Business Wins  Q1 2015: 33 new business bookings including 6 engineering projects  Estimated annual revenue run rate between $105 - $125 million design develop de

  6. Slide 6: First Quarter 2015 Financial Summary

    First Quarter 2015 Financial Summary For the Three Months Ended (In millions, except EPS) Mar 31, 2015 Dec 31, 2014 Mar 31, 2014 Net Sales $620.9 $709.5 $639.3 Net Income – GAAP $14.2 $24.0 $19.1 Net Income – non-GAAP $17.8 $23.2 $19.2 Diluted EPS – GAAP $0.27 $0.45 $0.35 Diluted EPS – non-GAAP $0.3

  7. Slide 7: Trending Operating Income

    Trending Operating Income  Continued improvement in Q1 operating income percentage  Results from operational excellence and revenues in higher growth markets design develop deliver advanced technology 7

  8. Slide 8: First Quarter Industry Sector Update

    First Quarter Industry Sector Update Revenue by Industry Sector Sector (in millions) Mar 31, 2015 Dec 31, 2014 Mar 31, 2014 Q1 YoY Industrial Control Equipment 32% $199 32% $230 29% $185 7% Telecommunication Equipment 27% $166 29% $202 27% $170 (2%) Computing 19% $120 20% $143 20% $131 (9%) Medical

  9. Slide 9: Financial Statement Highlights

    Financial Statement Highlights Balance Sheet and Cash Flows (In millions) Mar 31, 2015 Dec 31, 2014 Mar 31, 2014 Cash $383.6* $427.4 $394.2 Cash Flows from Operating Activities ($10.9) $22.8 $60.7 Capital Expenditures $16.8 $8.8 $14.6 Depreciation & Amortization $12.1 $12.5 $10.8 Accounts Receivable

  10. Slide 10: Second Quarter 2015 Guidance

    Second Quarter 2015 Guidance Guidance Net Sales (in millions) $635 – $665 Operating Margin – non-GAAP 3.7% – 4.1% Effective Tax Rate 21% Diluted EPS – non-GAAP $0.37 – $0.41  Outlook is for the second quarter ending June 30, 2015. design develop deliver advanced technology 10

  11. Slide 11: Benchmark Market Overview

    Benchmark Market Overview Q2-15 2015 Higher Growth Markets Mar 31, 2015 Outlook (%) Outlook Industrial Control Equipment 32% $199 Up Low-Single Digits Growth Medical Devices 13% $81 Mid-Teen Digit Increase Growth Testing and Instrumentation 9% $55 Up Low-Single Digits Stable Products Total Revenue $

  12. Slide 12: Summary

    First Quarter 2015 Summary  Q1 Results – Consistent  Strategic Priorities: o Portfolio Management o Operational Excellence o Customer Focus  Continued Focus on Operating Margin Expansion design develop deliver advanced technology 12

  13. Slide 13: Appendix

    Appendix design develop deliver advanced technology 13

  14. Slide 14: Reconciliation of GAAP to non-GAAP Financial Results

    Reconciliation of GAAP to non-GAAP Financial Results (Amounts in Thousands, Except Per Share Data) – (UNAUDITED) Three Months Ended March 31, December 31, March 31, 2015 2014 2014 Income from operations (GAAP) $ 18,708 $ 28,653 $ 22,432 Restructuring charges and integration costs 4,869 955 2,109 Gai

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