Electronics Production | November 05, 2009
EMS net sales declined 10% for Kimball in fiscal 1Q
1Q net sales in the EMS segment for EMS-provider Kimball declined 10% from the 1Q of the prior year as sales to customers in the medical, automotive, industrial control and public safety industries were all down compared to last year.
First quarter fiscal year 2010 net sales in this segment increased 9% over the fiscal year 2009 fourth quarter due to increased sales in the automotive, medical and industrial control industries. The gross profit as a percent of net sales in the EMS segment for the first quarter of fiscal year 2010 remained flat with the first quarter of the prior year. Selling and administrative costs in this segment declined 16% in the first quarter when compared to the prior year primarily related to benefits realized from restructuring actions, lower depreciation/amortization expense, lower employee benefit costs which are linked to Company profitability, and other overall cost reduction efforts.