Kimball Riding Auto Demand PDF Print E-mail
Written by Mike Buetow   
Thursday, 01 November 2012 07:26

JASPER, IN -- A 15% jump in Kimball's EMS sales helped boost the company to a 6% overall hike in revenue for the quarter ended Sept. 30.

Net sales in the segment were $164.2 million for the period, up 15% from a year ago, while the operating income rebounded from last year's loss, on double-digit sales growth to customers in the automotive and industrial markets. Gross profit as a percent of net sales in the EMS segment for the first quarter of fiscal year 2013 improved 3.6 percentage points to 3.1% on higher absorption of fixed costs on the increased sales volumes, benefits realized related to restructuring activities completed in the prior year, and increased operational efficiencies. Operating income was $5 million, up from a loss of $2.3 million last year.

President and chief executive James C. Thyen said, "The EMS segment continued its positive momentum into the first quarter. Successful efforts by our business development team in expanding our customer base and winning new programs with existing customers contributed to double-digit revenue growth compared to last year. Also since completing our restructuring activities in the first half of last fiscal year, we no longer have the distraction or costs of consolidating operations. We have eliminated that excess capacity and that has positively impacted our bottom line. We are pleased with the progress we are seeing within the EMS segment."

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Last Updated on Thursday, 08 November 2012 17:21
 

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