Benchmark Electronics 4Q results top Street's view

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Associated Press

Posted on February 4, 2013 at 11:00 AM

Updated Monday, Feb 4 at 12:02 PM

ANGLETON, Texas (AP) — Benchmark Electronics' net income soared in its fourth quarter, driven by increased orders and lower charges.

The electronic manufacturing services provider earned $18.1 million, or 33 cents per share, for the three months ended Dec. 31. That compares with $2.9 million, or 5 cents per share, a year earlier.

Restructuring charges were higher in the prior-year period. It was also hurt by Thailand flood-related charges.

Analysts predicted earnings of 30 cents per share, according to a FactSet survey.

Revenue increased 13 percent to $633.9 million from $559.1 million, topping Wall Street's estimate of $597.9 million.

For the year, Benchmark Electronics Inc. earned $56.6 million, or $1 per share., up from $52 million, or 87 cents per share. Annual revenue rose 10 percent to $2.47 billion from $2.25 billion.

The Angleton, Texas-based company expects first-quarter adjusted earnings between 17 cents and 21 cents per share on revenue in a range of $530 million to $560 million.

Analysts expect earnings of 28 cents per share on revenue of $579.9 million.

Shares of Benchmark Electronics added 10 cent to $17.91 in morning trading on Monday. They have traded in a 52-week range of $12.54 to $18.87.

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