Kimball Electronics, Inc. Reports Second Quarter Fiscal Year 2019 Results: Up 10% Y-o-Y
JASPER, Ind. — Kimball Electronics, Inc. (Nasdaq: KE), a global electronics manufacturing services provider of high-quality, durable electronic products, today announced financial results for its second quarter ended December 31, 2018.
- Second quarter net sales of $284 million, up 10% year-over-year
- Net income of $7.1 million and diluted earnings per share of $0.27
- Returned $13.3 million to Share Owners in stock repurchases during the quarter
- Completed the GES acquisition on October 1, 2018
Donald D. Charron, Chairman and Chief Executive Officer, stated, “We achieved solid year-over-year organic growth in three of our four end market verticals as the ramp-up of new program launches helped to more than offset continued softness in certain other programs primarily caused by global macro-economic conditions, component shortages, and trade uncertainties.”
Mr. Charron continued, “We made good progress in optimizing our core business and with the acquisition of GES, we took a significant step in our strategy to diversify ourselves into a multifaceted manufacturing solutions provider. We are cautiously optimistic that our goal of 8% organic growth remains in reach for fiscal year 2019, and we expect to meet our 4.5% operating income goal for the second half of fiscal year 2019.”