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Electronics Production | August 08, 2011

4Q net sales up 13% for Kimball's EMS segment

Fiscal year 2011 4Q net sales in the EMS segment decreased 13% from the 4Q of the prior year for EMS-provider Kimball Electronics.
Decreased net sales to customers in the medical, automotive and public safety industries were partially offset by an increase in net sales to customers in the industrial controls industry.

The decline in net sales to the medical industry in the fiscal year 2011 fourth quarter was attributable to the expiration of a contract with one medical customer early in the fourth quarter of fiscal year 2011 while the effects of the Japan earthquake and tsunami impacted the Company's net sales to the automotive industry. Compared to the record net sales level reached in the fiscal year 2011 third quarter, current year fourth quarter net sales decreased 18% on the decline in net sales to the medical and automotive markets.

© Kimball

Gross profit as a percent of net sales in the EMS segment for the fourth quarter of fiscal year 2011 increased 0.4 percentage points when compared to the fourth quarter of the prior year.

Selling and administrative costs in this segment increased 4% in the fiscal year 2011 fourth quarter when compared to the prior year primarily related to an increase in accounts receivable reserves and labor costs which were partially offset by lower incentive compensation costs.
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