Benchmark Electronics, Inc. · NYSE:BHE

Benchmark Electronics — Q4 2014 Earnings Presentation

14 slides from Benchmark Electronics's earnings presentation, Feb 3, 2015

  1. Slide 1: Fourth Quarter and Full Year 2014 Financial Results

    Fourth Quarter and Full Year 2014 Financial Results February 3, 2015

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This document 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 thereof, often identify forw

  3. Slide 3: Fourth Quarter 2014 Results

    Fourth Quarter 2014 Results For the Three Months Ended (In millions, except EPS) Dec 31, 2014 Sep 30, 2014 Dec 31, 2013 Net Sales $709.5 $731.3 $756.8 Net Income – GAAP $24.0 $17.2 $67.5 Net Income – non-GAAP $23.2 $23.5 $23.5 Diluted EPS – GAAP $0.45 $0.32 $1.24 Diluted EPS – non-GAAP $0.43 $0.43 $

  4. Slide 4: Fiscal Year 2014 Results

    Fiscal Year 2014 Results For Years Ended (In millions, except EPS) Dec 31, 2014 Dec 31, 2013 Net Sales $2,797.1 $2,506.5 Net Income – GAAP $82.4 $111.2 Net Income – non-GAAP $89.3 $69.2 Diluted EPS – GAAP $1.52 $2.03 Diluted EPS – non-GAAP $1.65 $1.26 Operating Margin – GAAP 3.6% 4.6% Operating Marg

  5. Slide 5: Fourth Quarter Industry Sector Update

    Fourth Quarter Industry Sector Update Revenue by Industry Sector Sector Dec 31, 2014 Sep 30, 2014 Dec 31, 2013 Q4 YoY Industrial Control Equipment 32% $230 30% $219 26% $199 16% Telecommunication Equipment 29% $202 32% $231 24% $183 11% Computers and Related Products 20% $143 21% $155 32% $243 (41%)

  6. Slide 6: Financial Statement Highlights

    Financial Statement Highlights Balance Sheet and Cash Flows (In millions) Dec 31, 2014 Sep 30, 2014 Dec 31, 2013 Cash $427.4* $420.2 $345.6 Cash Flows from Operating Activities $22.8 $28.2 ($0.9) Capital Expenditures $8.8 $6.3 $8.6 Depreciation & Amortization $12.5 $11.8 $11.3 Accounts Receivable $5

  7. Slide 7: First Quarter 2015 Guidance

    First Quarter 2015 Guidance Guidance Net Sales (in millions) $615 – $645 Diluted EPS – non-GAAP $0.30 – $0.34  Outlook is for the first quarter ending March 31, 2015. design develop deliver advanced technology 7

  8. Slide 8: President and CEO Commentary

    President and CEO Commentary design develop deliver advanced technology 8

  9. Slide 9: Portfolio Trends

    Portfolio Trends Traditional Revenue Non-Traditional Revenue 3-Year CAGR = 5% 3-Year CAGR = 10% (Computing & Telecom) (Industrial, Medical & T&I)  Continued demand variation in Traditional Markets  Predominant growth of less variable Non-Traditional Markets design develop deliver advanced technolo

  10. Slide 10: Fourth Quarter 2014 New Business Wins

    Fourth Quarter 2014 New Business Wins Q4 2014 Number of New Quarterly Estimated Annual Revenue Business Wins by Segment Run Rate for New Business Wins  Q4 2014: 46 new business bookings including 11 engineering projects  Estimated annual revenue run rate between $120 - $160 million design develop

  11. Slide 11: Benchmark Market Overview

    Benchmark Market Overview Q1-15 2015 Non-Traditional Markets Dec 31, 2014 Outlook (%) Outlook Industrial Control Equipment 32% $230 Down Mid-Single Digits Growth Medical Devices 11% $81 Up Low-Single Digits Growth Testing and Instrumentation 8% $54 Up Low-Single Digits Stable Products Total Revenue

  12. Slide 12: Fourth Quarter 2014 Summary

    Fourth Quarter 2014 Summary  Fourth Quarter Results – Strong and Consistent Performance in 2014  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 Year Ended Dec 31, Sep 30, Dec 31, December 31, 2014 2014 2013 2014 2013 Income from operations (GAAP) $ 28,653 $ 21,915 $ 60,275 $ 100,144 $ 116,524 Restructuring char

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