Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 127

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 127
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 our estimates or judgments or require us to revise the carrying value of our assets or liabilities as of the date we filed this Report. These estimates may change as new events occur and additional information is obtained. Actual results could differ from these estimates under different assumptions or conditions.

RESULTS OF OPERATIONS

The financial information and the discussion below should be read in conjunction with the consolidated financial statements and notes thereto in Part II, Item 8 of this Report. The following table presents the percentage relationship that certain items in our consolidated statements of income bear to sales for the periods indicated:

    Year EndedDecember 31,

    2024

    2023

    Sales

    100.0
    %

    100.0
    %

    Cost of sales

    89.8

    90.5

    Gross profit

    10.2

    9.5

    Selling, general and administrative expenses

    5.6

    5.1

    Amortization of intangible assets

    0.2

    0.2

    Restructuring charges and other costs

    0.3

    0.3

    Income from operations

    4.1

    3.9

    Other expense, net

    (0.9
    )

    (1.0
    )

    Income before income taxes

    3.2

    2.9

    Income tax expense

    0.8

    0.6

    Net income

    2.4
    %

    2.3
    %

2024 Compared With 2023

Sales

Sales decreased 6% in 2024. The percentages of our sales by market sector were as follows:

    Year EndedDecember 31,

    2024

    2023

    Semi-Cap

    27
    %

    23
    %

    Industrial

    22

    21

    Medical

    17

    20

    A&D

    16

    13

    AC&C

    18

    23

    Total net sales

    100
    %

    100
    %

Semi-Conductor Capital Equipment. 2024 sales increased 12% to $723.2 million from $646.3 million in 2023 primarily due to increased demand from existing customers and new customer wins.