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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
FORM 10-K/A
FOR ANNUAL AND TRANSITION REPORT PURSUANT TO SECTIONS 13
OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
(MARK ONE)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM ___________ TO ____________.
COMMISSION FILE NUMBER 1-10560
BENCHMARK ELECTRONICS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
______________________
TEXAS 74-2211011
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER)
3000 TECHNOLOGY DRIVE
ANGLETON, TEXAS 77515
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(979) 849-6550
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
NAME OF EACH EXCHANGE
TITLE OF EACH CLASS ON WHICH REGISTERED
--------------------------------------- ----------------------------
Common Stock, par value $0.10 per share New York Stock Exchange, Inc.
Preferred Stock Purchase Rights New York Stock Exchange, Inc.
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
______________________
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ].
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in PART III of this Form 10-K or any amendment to this
Form 10-K. [ ]
As of March 28, 1999, the number of outstanding shares of Common Stock was
16,272,226. As of such date, the aggregate market value of the shares of Common
Stock held by non-affiliates, based on the closing price of the Common Stock on
the New York Stock Exchange on such date, was approximately $570.5 million.
DOCUMENTS INCORPORATED BY REFERENCE:
(1) The Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 1999.
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TABLE OF CONTENTS
Item 14. Exhibits, Financial Statement Schedules, and Reports
on Form 8-K.
(a)(2) Financial Statement Schedule
Independant Auditors' Report........................ 2
Schedule II - Valuation Accounts.................... 3
The Registrant is amending its Form 10-K for 1999 to include Schedule
II, Valuation Accounts, and the accompanying independent auditors'
report.
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SIGNATURE
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.
By: /s/ GAYLA J. DELLY
GAYLA J. DELLY
TREASURER
Dated: July 13, 2000
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INDEPENDENT AUDITORS' REPORT
The Board of Directors and Shareholders
Benchmark Electronics, Inc.:
Under date of February 8, 2000, we reported on the consolidated balance sheets
of Benchmark Electronics, Inc. and subsidiaries as of December 31, 1999 and
1998, and the related consolidated statements of income, shareholders' equity
and comprehensive income, and cash flows for each of the years in the three-year
period ended December 31, 1999, as incorporated by reference in the annual
report on form 10-K for the year 1999. In connection with the audits of the
aforementioned consolidated financial statements, we also audited the related
consolidated financial statement schedule as listed in the accompanying index.
This financial statement schedule is the responsibility of the Company's
management. Our respnsibility is to express an opinion on this financial
statement schedule based on our audits.
In our opinion, such financial statement schedule, when considered in relation
to the basic consolidated financial statements taken as a whole, presents
fairly, in all material respects, the information set forth therein.
KPMG LLP
Houston, Texas
February 8, 2000
2
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BENCHMARK ELECTRONICS, INC.
SCHEDULE II - VALUATION ACCOUNTS
(IN THOUSANDS)
<TABLE>
<CAPTION>
ADDITIONS
--------------------------------------
BALANCE AT BALANCE AT
BEGINNING CHARGES TO OTHER END OF
OF PERIOD OPERATIONS ADDITIONS DEDUCTIONS PERIOD
---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Year ended December 31, 1999
Allowance for doubtful accounts(1)(2) $ 100 273 7,332 -- 7,705
====== ====== ====== ====== ======
Inventory obsolescence reserve(2)(3) $3,510 1,911 14,579 -- 20,000
====== ====== ====== ====== ======
Year ended December 31, 1998
Allowance for doubtful accounts(1) $ 156 -- -- 56 100
====== ====== ====== ====== ======
Inventory obsolescence reserve(3)(4) $1,751 583 3,100 1,924 3,510
====== ====== ====== ====== ======
Year ended December 31, 1997
Allowance for doubtful accounts(1) $ 782 18 -- 644 156
====== ====== ====== ====== ======
Inventory obsolescence reserve(3). $2,131 300 -- 680 1,751
====== ====== ====== ====== ======
</TABLE>
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(1) Deductions in the allowance for doubtful accounts represent write-offs, net
of recoveries, of amounts determined to be uncollectible.
(2) Other addition relates to the acquisition of AVEX.
(3) Deductions in the inventory obsolescence reserve represent disposals of
inventory determined to be obsolete.
(4) Other addition relates to the acquistion of LCEC.
See accompanying independent auditors' report.
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