Benchmark Electronics Inc. (BHE) reported third-quarter net income of $16 million or $0.25 per share compared to $24 million or $0.35 per share last year.
Excluding restructuring charges and a discrete tax benefit related to a previously closed facility, the company would have reported net income of $17 million or $0.27 per share compared to $20 million or $0.31 per share prior year. On average, 7 analysts polled by Thomson Reuters expected the company to report profit of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Sales were $510 million compared to $642 million prior year. Analysts expected revenue of $493.55 million for the quarter.
The company expects fourth-quarter sales to be in the range of $520 million-$560 million. Earnings per share, excluding restructuring charges, are expected to be in the range of $0.22-$0.26.
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