JASPER, IN – Kimball Electronics reported fiscal second quarter net sales of $258.2 million, up 12.1% year-over-year.
For the quarter ended Dec. 31, the electronics manufacturer posted a net loss of $8.3 million, compared to net income of $7.8 million the same period the prior year.
“Double-digit growth in our automotive and medical end market verticals helped us set a new quarterly sales record for the eighth consecutive quarter and kept us on a course to exceed our long-time stated goal of $1 billion in annual sales in fiscal year 2018,” said Donald D. Charron, chairman and CEO.
“We are pleased to see our margins improve sequentially from the first quarter of this fiscal year, and 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 make sequential, incremental improvement and achieve our new goal of 4.5% operating income.”
For the six months ended Dec. 31, Kimball reported net sales of $511.4 million, an increase of 12% year-over-year. Net income for the six-month period was $133,000, compared to $17.9 million the prior year.