Kimball Electronics keeps breaking records

The operating income for the third quarter was USD 11.2 million, an increase from USD 9.5 million for the comparable quarter last year. Net income ended up at USD 10.8 million, also up from USD 8.1 million during the third quarter of 2017. “Very strong growth in our automotive and medical end market verticals helped us set a new quarterly sales record for the ninth consecutive quarter. We are now on a pace to significantly exceed our long-time stated goal of $1 billion in annual sales in fiscal year 2018,” Kimball Electronics CEO, Donald D. Charron, states in a press release. Consolidated net sales increased 22% compared to the third quarter of fiscal year 2017, which included a 7% favourable impact from foreign currency movements. This represents the ninth consecutive quarterly sales record Mr. Charron continued, “The fourth quarter of fiscal year 2018 is a pivotal quarter for our margin expansion efforts as we continue to focus on yield and throughput improvements on recently launched new programs and further progress on the ramp-up in Romania to help us achieve our goal of 4.5% operating income.”