First quarter 2023 results:

• Revenue of $695 million, up 9% year-over-year led by:
• Advanced Computing growth of 74%
• Medical growth of 17%
• Next Generation Communications growth of 45%
• GAAP operating income of $23 million, up 48% year-over-year
• Non-GAAP(1) operating income of $26 million, up 21% year-over-year
• GAAP diluted EPS of $0.35, up 13% year-over-year

“Our first quarter results include double-digit year-over-year product shipment growth despite the pause in Semi-Cap spending, demonstrating the power of our sector diversification,” said Jeff Benck, Benchmark’s President and CEO.

Benck continued “While 2023 has already been a dynamic year, we are encouraged by the demand trends we are experiencing across the majority of our sectors.  Coupled with our continued execution, we remain confident in our outlook for the current year as well as our ability to execute to our long-term targets.”

Source: EMS Now