JASPER, IN – Kimball Electronics reported fiscal second quarter 2016 revenue ended Dec. 31 of $207.1 million, flat with the same period the previous year. Net income was $4.6 million, down 25.8% year-over-year.

Net sales in constant currencies were up 4.1% compared to the prior year quarter.

Automotive electronics demand was up 12% in the quarter, reaching $83 million, offset by drops in industrial (-14%), medical (-4%) and public safety (-5%).

Cash flow from operating activities was $16.8 million during the quarter. Capital expenditures were $8.2 million during the quarter. The EMS firm also spent $700,000 in incremental costs associated with the startup of its Romania facility.

In a press release, chairman and CEO Donald Charron said, “On the top line, the firmer demand that we began to see at the end of the first quarter continued for the most part into the second quarter.  We saw a double-digit increase both sequentially and year-over-year in our China automotive sales, which was partially offset by softer overall demand in the US, while our Europe markets remained relatively stable.  We are making good progress on the launches of a number of new business awards with both existing and new customers, and we are expecting sales from these launches later this fiscal year. Our new business opportunities pipeline remains healthy, and we continue to work diligently to achieve our medium range goal of $1 billion in annual sales by fiscal year 2018.”

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