Friday, April 24, 2009

Benchmark Electronics Sees Drop in Sales

Angleton, Texas-based Benchmark Electronics, a contract manufacturing provider for the electronics industry, disclosed its results Thursday, reporting sales of $497M for its quarter ended March 31st. The results were a steep drop from the prior year, when the firm reported $684M in sales. Despite the drop in sales, Benchmark said it had net income of $9M. Benchmark said in its earning results that its diverse businesses "has not provided us with immunity from the broad-based economic downturn," however, the company said it is making long-term investments to position the firm for growth when a recovery occurs.