JASPER, IN -- Top 20 EMS firm Kimball International today reported fiscal fourth-quarter sales in its EMS segment fell 13% year-over-year to $163 million on lower demand for automotive products.

Operating income plunged 77% to $630,000, and net income was down 49% to $1.27 million for the period ended June 30. During the period, the contract printed circuit board assembler's net sales in the medical, automotive and public safety industries fell, partially offset by higher demand for industrial controls. Gross profit as a percent of net sales increased 40 basis points from the prior year.

Chief executive officer and president James Thyen said, "Sales in our EMS segment were lower in the fourth quarter by approximately $10 million because of a decrease in orders from a few of our customers in the automotive industry as they dealt with the effects of the earthquake and tsunami in Japan. As the automotive operations impacted by this disaster begin to stabilize, we anticipate we will begin to see an increase in order demand from these customers during the first quarter of fiscal year 2012."

Overall sales fell 3% year-over-year to $282.8 million, and net income dropped 64% to $300,000 for the period ended June 30.

For fiscal 2011, the company reported consolidated net sales of $1.2 billion, up 7% 2010. Net income fell 55% to $4.9 million.

 

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