| Kimball's Sales Up on Reptron Acquisition |
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| Written by Mike Buetow | |||
| Thursday, 02 August 2007 10:38 | |||
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JASPER, IN — Kimball International reported fiscal fourth-quarter sales rose 3% to $338.3 million. The results include $36.5 million in revenue from the firm's February 2007 acquisition of Reptron Electronics. Income from continuing operations was $4.4 million, down from $7.1 million a year ago. In the EMS group, gross profit as a percent of net sales rose due to the Reptron acquisition and a major customer pricing adjustment. Cash from operations was $19.8 million, down from $21.1 million last year. For fiscal year 2007, net sales were up 16% to $1.3 billion. EMS acquisitions contributed $319.3 million in revenues to fiscal 2007. The company said its new Electronics China facility has received several program awards from multiple customers, and it achieved production certification and began shipping product late in the quarter. For the quarter, net EMS sales were up 7% to $185.1 million. The loss from continuing operations was $100,000, down from earnings of $3.6 million in the prior year. The decline resulted because of lower demand for higher-margin mature products, primarily automotive, and startup costs of a manufacturing facility in China.
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| Last Updated on Friday, 03 August 2007 05:45 |
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