Kimball Reports Fiscal Q2 Net Sales Up 11.2%
JASPER, IN – Kimball Electronics reported fiscal second quarter net sales of $230.3 million, up 11.2% year-over-year.
For the quarter ended Dec. 31, net income was $7.8 million, an increase of 71.2% compared to the same period in 2015. Operating income was $12.2 million, up 76.6% year-over-year.
“Continued strength in the automotive market, combined with double-digit growth in our industrial end market vertical, helped us set a new quarterly sales record for the fourth consecutive quarter,” said Donald D. Charron, chairman and CEO. “Our new program launch activity remains high as we continue to work diligently to achieve our goal of $1 billion in annual sales by fiscal year 2018.”
For the six-month period ended Dec. 31, net sales were $456.7 million, up 12.1% year-over-year.
Net income for the six-month period was $17.9 million, an increase of 98.4% compared to the same period in 2015. Operating income was $25 million, up 81%.
