Kimball Electronics Posts Fiscal Q4 Net Sales Up 9.6%
JASPER, IN – Kimball Electronics reported fiscal fourth quarter net sales ended June 30 of $220.4 million, up 9.6% year-over-year.
Net income was $5.8 million, down 22% compared to the fiscal fourth quarter of 2015. Operating income was $8.8 million, down 2.9% year-over-year.
“Continued strength in the automotive market combined with sales from new program launches helped us set new quarterly and annual sales records in the fourth quarter and fiscal year of 2016,” said Donald D. Charron, chairman and CEO. “Our new business opportunities pipeline remains healthy, and we continue to work diligently to achieve our goal of $1 billion in annual sales by fiscal year 2018.”
Net sales for fiscal 2016 were $842 million, up 2.8% year-over-year, while net income was $22.3 million, down 15% compared to fiscal 2015. Operating income was $29.7 million, down 18.2%.
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