Benchmark Electronics(BHE) - 2021 Q4 - Earnings Call Presentation

Q4 2021 Overview - Revenue grew 21% year-over-year to $633 million[6] - Non-GAAP gross margin was 9.8% and non-GAAP operating margin was 3.8%[6] - Non-GAAP earnings increased 41% year-over-year, reaching $0.48 per share[6] Full Year 2021 Performance - Annual revenues grew 10% to $2.255 billion, exceeding the mid-term model[10, 21] - Non-GAAP earnings per share grew 42% year-over-year[10] - GAAP gross margin was 9.1%, a 60 bps increase[10, 21] - Non-GAAP diluted EPS was $1.35, a 42% increase[21] Liquidity and Capital Allocation - Positive cash net of debt of $141 million as of December 31, 2021[26] - Capital expenditures in FY21 totaled $42 million[27] - The company repurchased 1.4 million shares for $40 million in FY21[27] Q1 2022 Guidance - Net sales are expected to be between $565 million and $605 million[29] - Diluted EPS (GAAP) is projected to be $0.21 - $0.27[29] - Diluted EPS (non-GAAP) is projected to be $0.32 - $0.38[29] 2022 Sector Outlook - The company expects 10-15% growth year-over-year in the Semi-Cap sector[33] - Medical sector is anticipated to be the highest growth sector in 2022[33]