© Kimball Electronics Electronics Production | February 07, 2019
Kimball Electronics' net sales up 10% year-over-year
EMS provider Kimball Electronics reported second quarter fiscal year 2019 net sales of USD 284 million, an increase of 10% from the same period last year.
“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,” says Donald D. Charron, Chairman and Chief Executive Officer, in a press release. 2Q19 Operating income was USD 10.2 million, quite stable when compared to USD 10.1 a year ago. Net income amounted to USD 7.1 million during the company’s second quarter, compared to a USD 8.3 million loss during the corresponding period last year. “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,” Mr. Charron continues.