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10-Q Filing

BENCHMARK ELECTRONICS INC CIK: 863436 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0000863436-14-000020
Period End Date 20140331
Filing Date 20140509
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance bhe-20140331.xml
Balance Sheet 82 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $369.00K USD Point-in-time
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $338.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $394.19M USD Point-in-time
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $352.84M USD Point-in-time
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $346.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $416.85M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $345.56M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $384.58M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $369 and $338, respectively AccountsReceivableNetCurrent $559.76M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $369 and $338, respectively AccountsReceivableNetCurrent $465.00M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Inventories, net InventoryNet $396.70M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Inventories, net InventoryNet $443.20M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $28.16M USD Point-in-time
Preferred shares, issued PreferredStockSharesIssued - shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $26.28M USD Point-in-time
Preferred shares, issued PreferredStockSharesIssued - shares Point-in-time
Common shares, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $2.80M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $3.23M USD Point-in-time
Common shares, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $9.26M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $11.30M USD Point-in-time
Common shares, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common shares, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Total current assets AssetsCurrent $1.34B USD Point-in-time
Common shares, issued CommonStockSharesIssued 53.94M shares Point-in-time
Common shares, issued CommonStockSharesIssued 54.12M shares Point-in-time
Total current assets AssetsCurrent $1.34B USD Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 53.83M shares Point-in-time
Common shares, outstanding CommonStockSharesOutstanding 54.01M shares Point-in-time
Long-term investments AvailableForSaleSecuritiesNoncurrent $9.92M USD Point-in-time
Long-term investments AvailableForSaleSecuritiesNoncurrent $9.91M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $352,843 and $346,500 respectively PropertyPlantAndEquipmentNet $187.69M USD Point-in-time
Treasury shares, shares TreasuryStockShares 111,000.00 shares Point-in-time
Property, plant and equipment, net of accumulated depreciation of $352,843 and $346,500 respectively PropertyPlantAndEquipmentNet $185.32M USD Point-in-time
Treasury shares, shares TreasuryStockShares 111,000.00 shares Point-in-time
Goodwill, net Goodwill $44.69M USD Point-in-time
Goodwill, net Goodwill $45.97M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $33.07M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $33.86M USD Point-in-time
Other, net OtherAssetsNoncurrent $40.75M USD Point-in-time
Other, net OtherAssetsNoncurrent $38.64M USD Point-in-time
Total assets Assets $1.66B USD Point-in-time
Total assets Assets $1.66B USD Point-in-time
Current installments of capital lease obligations CapitalLeaseObligationsCurrent $582.00K USD Point-in-time
Current installments of capital lease obligations CapitalLeaseObligationsCurrent $605.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $320.95M USD Point-in-time
Accounts payable AccountsPayableCurrent $299.71M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $9.57M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $8.21M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $67.27M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $67.65M USD Point-in-time
Total current liabilities LiabilitiesCurrent $376.18M USD Point-in-time
Total current liabilities LiabilitiesCurrent $398.38M USD Point-in-time
Capital lease obligations, less current installments CapitalLeaseObligationsNoncurrent $9.52M USD Point-in-time
Capital lease obligations, less current installments CapitalLeaseObligationsNoncurrent $9.37M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $21.60M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $20.37M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $2.07M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $2.07M USD Point-in-time
Preferred shares, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Preferred shares, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Common shares, $0.10 par value; 145,000 shares authorized; issued - 54,117 and 53,936, respectively; outstanding - 54,006 and 53,825, respectively CommonStockValue $5.40M USD Point-in-time
Common shares, $0.10 par value; 145,000 shares authorized; issued - 54,117 and 53,936, respectively; outstanding - 54,006 and 53,825, respectively CommonStockValue $5.38M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $644.59M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $649.54M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $586.42M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $603.15M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-9.09M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-9.14M USD Point-in-time
Less treasury shares, at cost; 111 shares TreasuryStockValue $272.00K USD Point-in-time
Less treasury shares, at cost; 111 shares TreasuryStockValue $272.00K USD Point-in-time
Total shareholders' equity StockholdersEquity $1.23B USD Point-in-time
Total shareholders' equity StockholdersEquity $1.25B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.66B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.66B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Sales SalesRevenueNet $639.34M USD 1 Quarter
Sales SalesRevenueNet $542.44M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $505.61M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $588.22M USD 1 Quarter
Gross profit GrossProfit $36.83M USD 1 Quarter
Gross profit GrossProfit $51.12M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $28.15M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $22.40M USD 1 Quarter
Restructuring charges and integration and acquisition-related costs RestructuringChargesAndIntegrationAndAcquisitionRelatedCosts $442.00K USD 1 Quarter
Restructuring charges and integration and acquisition-related costs RestructuringChargesAndIntegrationAndAcquisitionRelatedCosts $2.11M USD 1 Quarter
Thailand flood related items, net of insurance FloodRelatedItemsNetOfInsurance - USD 1 Quarter
Thailand flood related items, net of insurance FloodRelatedItemsNetOfInsurance $-1.57M USD 1 Quarter
Income from operations OperatingIncomeLoss $22.43M USD 1 Quarter
Income from operations OperatingIncomeLoss $13.99M USD 1 Quarter
Interest expense InterestExpense $476.00K USD 1 Quarter
Interest expense InterestExpense $459.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $515.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $414.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $26.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $316.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $22.50M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $14.26M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $3.37M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $2.78M USD 1 Quarter
Net income NetIncomeLoss $11.49M USD 1 Quarter
Net income NetIncomeLoss $19.12M USD 1 Quarter
Basic EarningsPerShareBasic $0.36 USD 1 Quarter
Basic EarningsPerShareBasic $0.21 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.35 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.21 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 53.65M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 54.80M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 54.28M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 55.15M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $11.49M USD 1 Quarter
Net income NetIncomeLoss $19.12M USD 1 Quarter
Depreciation Depreciation $9.64M USD 1 Quarter
Depreciation Depreciation $8.70M USD 1 Quarter
Amortization AdjustmentForAmortization $927.00K USD 1 Quarter
Amortization AdjustmentForAmortization $1.16M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $1.72M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $3.29M USD 1 Quarter
Asset impairment AssetImpairmentCharges - USD 1 Quarter
Asset impairment AssetImpairmentCharges $39.00K USD 1 Quarter
Thailand flood insurance recovery InsuranceRecoveries - USD 1 Quarter
Thailand flood insurance recovery InsuranceRecoveries $550.00K USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $2.00K USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-393.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.55M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.43M USD 1 Quarter
Excess tax shortfall (benefits) from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $114.00K USD 1 Quarter
Excess tax shortfall (benefits) from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $426.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-40.22M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-94.82M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $46.51M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-3.14M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-6.13M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.03M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-21.15M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-8.79M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-12.61M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $1.19M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-650.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-3.75M USD 1 Quarter
Net cash provided by operations NetCashProvidedByUsedInOperatingActivities $48.65M USD 1 Quarter
Net cash provided by operations NetCashProvidedByUsedInOperatingActivities $60.73M USD 1 Quarter
Proceeds from sales and redemptions of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $6.00K USD 1 Quarter
Proceeds from sales and redemptions of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $25.00K USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $14.51M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $6.70M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $106.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $22.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $217.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $104.00K USD 1 Quarter
Thailand flood property insurance proceeds ThailandFloodPropertyInsuranceProceeds $-550.00K USD 1 Quarter
Thailand flood property insurance proceeds ThailandFloodPropertyInsuranceProceeds - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-363.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-13.59M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-6.87M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $5.81M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $3.32M USD 1 Quarter
Excess tax (shortfall) benefits from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $426.00K USD 1 Quarter
Excess tax (shortfall) benefits from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $114.00K USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $132.00K USD 1 Quarter
Principal payments on capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $112.00K USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $12.08M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $4.54M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-8.76M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $1.57M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashAndCashEquivalents $-745.00K USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashAndCashEquivalents $-72.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $32.27M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $48.64M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $394.19M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $416.85M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $345.56M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $384.58M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $416.85M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $345.56M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $394.19M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $384.58M USD Point-in-time
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Balances, shares CommonStockSharesOutstanding 53.83M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 54.01M shares Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.23B USD Point-in-time
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.36M USD 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $4.54M USD 1 Quarter
Stock options exercised, shares StockIssuedDuringPeriodSharesStockOptionsExercised 304,000.00 shares 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $5.81M USD 1 Quarter
Issuance of restricted shares, net of forfeitures, value StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Restricted shares withheld for taxes RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-309.00K USD 1 Quarter
Excess tax benefit of stock-based compensation AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation $236.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $10.84M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $19.08M USD 1 Quarter
Balances, shares CommonStockSharesOutstanding 53.83M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 54.01M shares Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.23B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $11.49M USD 1 Quarter
Net income NetIncomeLoss $19.12M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-638.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-27.00K USD 1 Quarter
Unrealized gain on investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-8.00K USD 1 Quarter
Unrealized gain on investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-9.00K USD 1 Quarter
Other OtherComponentOfOtherComprehensiveIncome $1.00K USD 1 Quarter
Other OtherComponentOfOtherComprehensiveIncome $-8.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-44.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-645.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $10.84M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $19.08M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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