JASPER, IN – Kimball Electronics posted fiscal third quarter net sales up 10% year-over-year to $313 million.

Net income for the three-month period ended Mar. 31 was $11.8 million, up 9.4% compared to the same quarter in 2018. Operating income was $14.5 million, up 30.3%.

“We delivered record sales, operating income, net income, and diluted EPS in our third quarter,” said Donald D. Charron, chairman and CEO. “Strong double-digit organic growth in our medical and industrial end market verticals helped us exceed our 8% organic growth goal and set the new quarterly sales record. New program launches and ramp-ups more than offset continued softness in certain other programs primarily caused by global macro-economic conditions and trade uncertainties.”

Cash and cash equivalents were $47.2 million and borrowings outstanding on credit facilities were $127 million at Mar. 31, including $91.5 million classified as long-term.

For the nine months ended Mar. 31, net sales were $863.2 million, an increase of 8.5% year-over-year. Net income was $24 million, up 119.1%, while operating income was $31.7 million, growth of 3.1%.

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