JASPER, IN – Kimball Electronics reported sales of $1.71 billion for its full fiscal year, down 6% compared to fiscal year 2023.

The company's fourth quarter sales of $430.2 million were down 13.2% from the previous year's fourth quarter.

"Q4 was another quarter focused on ‘controlling what we can control,'" said CEO Richard Phillips. "The operating environment for the EMS industry remains challenged and many contract manufacturing organizations, Kimball included, have adjusted expectations on continued weakness in end market demand. In the verticals we serve, the pull back has been more significant than originally anticipated, and we continue to appropriately adjust our cost structure to maintain competitiveness with stable operating margins, improve working capital management with lower inventory levels, and generate positive cash flow.

"Earlier this month, we announced the completion of the divestiture of the Automation, Test and Measurement business. Closure on the sale represents a significant milestone for our Company, and another important step toward sharpening our strategic focus and returning to profitable growth and stronger performance. Proceeds from the sale, combined with actions taken to navigate the current environment, have strengthened our balance sheet with increased liquidity and financial flexibility. In addition, recent new program wins, which will start to impact fiscal 2026, make us excited for the future."

For fiscal year 2025, the company projects sales in the range of $1.44 billion to $1.54 billion.