Electronics meets goal of $1 billion in annual sales

From Local Sources

JASPER — Kimball Electronics met a long-time goal this week as they closed out their fiscal year with $1 billion in annual sales.

“Very strong growth in our automotive and medical end market verticals helped us achieve double-digit year-over-year growth for the fourth consecutive quarter and exceed our long-time stated goal of $1 billion in annual sales in fiscal year 2018,” said CEO Don Charron in a press release announcing the earnings.

The Jasper-based company, a leading global electronic manufacturing services provider of high-quality, durable electronic products, announced its financial results today for its fourth quarter and fiscal year ended June 30, 2018.

The company ended fiscal year 2018 with $1,072,061,000 in net sales. It reports a net income of $16,752,000 from the same period.

The company also noted that its fourth quarter sales were $277 million, up 15% from the prior year's fourth quarter. Operating income improved to 4.1% from 3.5% in 2017 and the company reported that strong cash flow provided by operations ended at $19.3 million for the quarter.

The company also returned $3.1 million to its shareholders in stock repurchases during the quarter.

The full press release can be found here: https://www.kimballelectronics.com/news/2018/08/01/kimball-electronics-inc.-reports-fourth-quarter-and-fiscal-year-2018-results

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