Kimball Reports Fiscal Q3 Net Sales Up 9%
JASPER, IN – Kimball Electronics reported fiscal third quarter net sales of $232.9 million, up 8.8% year-over-year.
For the quarter ended Mar. 31, net income was $8.1 million, an increase of 8.6% compared to the same period last year. Operating income was $9.5 million, up 34.8%.
Cash flow from operating activities was $8.7 million for the quarter.
“Continued strength in the automotive market in North America and Europe more than offset a decline in China,” said chairman and CEO Donald D. Charron. “Double-digit increases in our industrial and public safety end market verticals helped us set a new quarterly sales record for the fifth consecutive quarter. Our new program launch and ramp-up activity remain high as we continue to work diligently to achieve our goal of $1 billion in annual sales in fiscal year 2018.”
For the nine month period ended Mar. 31, net sales were $689.6 million, up 10.9% year-over-year. Net income was $26 million, up 57.7%, and operating income was $34.6 million, an increase of 65.3%.
