Benchmark posts FY 2025 income tax expense of USD 36.7 million up 59.6%

Benchmark reported FY 2025 sales of USD 2.7 billion, flat year-over-year, with gross profit of USD 270.1 million and a gross margin of 10.2%. Income from operations was USD 76.0 million, while net income was USD 24.9 million, or USD 0.68 per diluted share; income tax expense was USD 36.7 million, implying a 59.6% effective tax rate. Cash provided by operating activities totaled USD 124.0 million in FY 2025, and cash and cash equivalents and restricted cash were USD 322.4 million at December 31, 2025; working capital was USD 0.8 billion. By sector in FY 2025, Semi-Cap sales rose 2% to USD 741.2 million, Medical increased 7% to USD 483.9 million, and Aerospace and Defense grew 19% to USD 514.4 million, while Advanced Computing and Communications fell 27% to USD 344.9 million; Industrial was USD 574.7 million. Benchmark recorded USD 7.4 million of restructuring charges and other costs tied mainly to closures (including Fremont, California and an older Guadalajara, Mexico facility), capacity reductions and workforce actions, and also recorded an USD 11.1 million impairment charge and agreed to an USD 11.0 million settlement related to an indirect tax assessment. The company entered a USD 700 million credit agreement on June 27, 2025, and ended FY 2025 with USD 148.1 million outstanding on its term loan and USD 65.0 million drawn on its revolver, with USD 480.6 million available for borrowing; it repurchased USD 26.8 million of shares and paid USD 24.4 million of dividends during FY 2025.

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