UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
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Registrant’s telephone number, including area code: (
Not Applicable
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On March 16, 2020, Benchmark Electronics, Inc. (the “Company”) issued a press release announcing an update to its earnings outlook for the first quarter of 2020. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein. The information disclosed under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description |
99.1 | Press release, dated March 16, 2020
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104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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| SIGNATURES |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BENCHMARK ELECTRONICS, INC. |
Date: March 17, 2020 | By: /s/ Stephen J. Beaver |
| Stephen J. Beaver, Esq. |
| Vice President General Counsel |
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Exhibit 99.1
FOR IMMEDIATE RELEASE
TEMPE, AZ, March 16, 2020 – Benchmark Electronics, Inc. (NYSE: BHE) today announced that the company will not achieve the first quarter 2020 financial guidance it previously provided on February 6, 2020 due to the impact from the novel coronavirus (“COVID-19”). This updated outlook results primarily from the impact of the temporary shutdown of its plant in China due to COVID-19, supply chain and logistics interruptions from Asian suppliers impacted by the virus, and the emerging restrictions related to government regulations on its operations. Benchmark’s factory in Suzhou China was proactive in working with the government to come back online five weeks ago and is now fully operational. The situation with COVID-19 continues to evolve rapidly, and the company is closely monitoring impacts to its business. Benchmark expects to provide more information during its next earnings call in April.
Jeff Benck, Benchmark President and CEO, commented, "Our deepest sympathies go out to those who have been impacted by the COVID-19 outbreak. The health and wellbeing of Benchmark employees, customers, partners and our communities in which we operate are of the utmost importance. Benchmark is following all government guidelines and taking precautionary steps to protect our global organization. Since this crisis has emerged, the Benchmark team has risen to the challenge to support our customers. The extraordinary efforts of our team members are deeply appreciated.”
About Benchmark Electronics, Inc.
Benchmark provides comprehensive solutions across the entire product life cycle; leading through its innovative technology and engineering design services; leveraging its optimized global supply chain; and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing, next generation telecommunications, complex industrials, medical, and semiconductor capital equipment. Benchmark's global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.
For More Information, Please Contact:
Lisa K. Weeks, VP of Strategy & Investor Relations
623-300-7052 or [email protected]
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “expect,” “estimate,” “anticipate,” “could” “predict” and similar expressions, and the negatives thereof, often identify forward-looking statements, which are not limited to historical facts. Forward-looking statements include, among other things, the estimated financial impact of COVID-19 and the company’s updated first quarter 2020 outlook. Although the company believes these statements are based upon reasonable assumptions, they involve risks and uncertainties. If one or more of these risks or uncertainties materializes, or underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Readers are advised to consult further disclosures on these risks and uncertainties, particularly in Part 1, Item 1A, “Risk Factors” of the company’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its subsequent filings with the Securities and Exchange Commission. All forward-looking statements included in this document are based upon information available to the company as of the date of this document, and it assumes no obligation to update them.