JASPER, IN – Kimball International reported sales of $333.9 million in the first quarter of 2008, an increase of 7.2% year-over-year. Income from continuing operations was $6.6 million.
 
Net sales included $36.6 million from the company’s acquisition of Reptron and an approximately $33 million reduction due to a change in the price of finished product sold to an EMS customer. 
 
Operating cash flow was $17.4 million, an increase of 1.7% year-over-year.
 
On a Nov. 5 conference all with analysts, CEO and president Jim Thyen confirmed the closings of former Reptron facilities in Gaylord, MI, and Hibbing, MN. “We will be exiting those locations over the next six to nine months due to lack of customer interest in those regions,” he said.
 
Kimball’s electronics facility in Nanjing, China, while not yet profitable, is adding customers and production lines to this facility and improvement in earnings is expected.

He further noted, “Our operating income in the first quarter improved compared to the most recent fourth quarter on the expected decline in our SG&A costs from the elevated level in the fourth quarter. We have new products in the pipeline and are regularly evaluating potential acquisitions to aggressively grow our sales. We are working on improving our profits by reducing our total operating costs through targeted lean and other productivity initiatives.”
 

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