JASPER, IN -- Kimball International reported fiscal 2007 first-quarter net sales rose $50.5 million, or 47%, to $158.5 million at its electronics contract assemblies group over last year.
The increase is attributable to the $63.8 million in current
year first quarter sales from the two acquisitions completed late in
fiscal year 2006.
Sales to medical and industrial
customers rose while sales to automotive customers fell.
The loss from
continuing operations was $500,000, down from a net profit of $800,000 a year ago. Some costs
were related to a recently completed manufacturing facility in China that has not begun realizing revenue.
The company's net sales for the September quarter were $314.8
million, up 17.7%. Income from continuing operations improved to $3.7 million, from a loss of $200,000.
The new plant in Nanjing,
China, will provide printed circuit board assembly, system
subassembly and final product assembly. It is slated to
begin generating revenue later this fiscal year.
In April, Kimball bought
Bayer Diagnostics Manufacturing Ltd.'s Bridgend, Wales, manufacturing operation for $31 million. In May, the company acquired
Magna Donnelly's assembly operation in Longford, Ireland, in a $300,000 deal.