Kimball Electronics, Inc. Reports Second Quarter Fiscal Year 2019 Results
|
Condensed Consolidated Statements of Income | | | | | | |
| (Unaudited) |
Three Months Ended |
| (Amounts in Thousands, except Per Share Data) |
December 31, 2018 (1) | |
December 31, 2017 |
| Net Sales | $ | 284,149 | | | 100.0 | % | | $ | 258,151 | | | 100.0 | % |
| Cost of Sales (2) | 263,705 | | | 92.8 | % | | 237,230 | | | 91.9 | % |
| Gross Profit (2) | 20,444 | | | 7.2 | % | | 20,921 | | | 8.1 | % |
| Selling and Administrative Expenses (2) | 10,232 | | | 3.6 | % | | 10,802 | | | 4.2 | % |
| Operating Income (2) | 10,212 | | | 3.6 | % | | 10,119 | | | 3.9 | % |
| Other Income (Expense), net (2) | (1,593 | ) | | (0.6 | )% | | 467 | | | 0.2 | % |
| Income Before Taxes on Income | 8,619 | | | 3.0 | % | | 10,586 | | | 4.1 | % |
| Provision for Income Taxes | 1,504 | | | 0.5 | % | | 18,933 | | | 7.3 | % |
| Net Income (Loss) | $ | 7,115 | | | 2.5 | % | | $ | (8,347 | ) | | (3.2 | )% |
| | | | | | | | |
| Earnings Per Share of Common Stock: | | | | | | | |
| Basic | $ | 0.27 | | | | | $ | (0.31 | ) | | |
| Diluted | $ | 0.27 | | | | | $ | (0.31 | ) | | |
| | | | | | | | |
| Average Number of Shares Outstanding: | | | | | | | |
| Basic | 25,993 | | | | | 26,765 | | | |
| Diluted | 26,036 | | | | | 26,765 | | | |
| | | | | | | | |
| (Unaudited) |
Six Months Ended |
| (Amounts in Thousands, except Per Share Data) |
December 31, 2018 (1) | |
December 31, 2017 |
| Net Sales | $ | 549,769 | | | 100.0 | % | | $ | 511,355 | | | 100.0 | % |
| Cost of Sales (2) | 511,139 | | | 93.0 | % | | 470,981 | | | 92.1 | % |
| Gross Profit (2) | 38,630 | | | 7.0 | % | | 40,374 | | | 7.9 | % |
| Selling and Administrative Expenses (2) | 21,478 | | | 3.9 | % | | 20,732 | | | 4.1 | % |
| Other General Income | (92 | ) | | — | % | | — | | | — | % |
| Operating Income (2) | 17,244 | | | 3.1 | % | | 19,642 | | | 3.8 | % |
| Other Income (Expense), net (2) | (2,147 | ) | | (0.4 | )% | | 1,779 | | | 0.4 | % |
| Income Before Taxes on Income | 15,097 | | | 2.7 | % | | 21,421 | | | 4.2 | % |
| Provision for Income Taxes | 2,913 | | | 0.5 | % | | 21,288 | | | 4.2 | % |
| Net Income | $ | 12,184 | | | 2.2 | % | | $ | 133 | | | — | % |
| | | | | | | | |
| Earnings Per Share of Common Stock: | | | | | | | |
| Basic | $ | 0.46 | | | | | $ | — | | | |
| Diluted | $ | 0.46 | | | | | $ | — | | | |
| | | | | | | | |
| Average Number of Shares Outstanding: | | | | | | | |
| Basic | 26,250 | | | | | 26,812 | | | |
| Diluted | 26,404 | | | | | 27,007 | | | |
