JASPER, IN – Kimball Electronics announced sales of $436.7 million for its second quarter, an all-time quarterly high and an increase of 39% year-over-year.

The company also raised its guidance for net sales in fiscal 2023 to a range of $1.7 billion to $1.8 billion, a 26-33% increase compared to the prior year. The original guidance for net sales was in the range of $1.6 billion to $1.7 billion.

"I am very pleased with our results in Q2. For the fourth consecutive quarter, net sales were at an all-time high for the Company, and operating margin expanded both sequentially and compared to the same period last year," said Kimball Electronics Chairman and CEO Donald Charron. "Our team continues to ramp-up production on new and existing programs, leverage our facility expansions in Thailand and Mexico, and begin to work down the backlog of open orders resulting from pandemic-related global supply chain disruptions and component part shortages. We expect improvement in sales and margin to continue for the balance of the year, as part of a stair-stepped fiscal 2023, and we are raising our outlook for full year sales, and expect operating margin to be in the mid-to-upper end of the guidance range."

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