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Kimball Electronics, Inc. (KE) is a distinguished contract manufacturer specializing in durable goods electronics, serving a wide range of industries globally. The company's footprint is extensive, with its electronic solutions permeating into daily life through sectors such as automotive, industrial, medical, and public safety. Kimball Electronics is renowned for its unwavering commitment to high performance, quality, reliability, and ethical practices, which underpins its corporate culture and customer relationships.
Core Business
Kimball Electronics excels in providing comprehensive electronics manufacturing services (EMS). Their expertise spans manufacturing, engineering, and supply chain management, ensuring seamless delivery of high-quality electronic products. Their services cater to critical sectors, producing vital electronic assemblies, particularly for the automotive industry where safety is paramount.
Recent Achievements and Projects
Continuing to innovate, Kimball Electronics has undertaken several noteworthy projects. They have expanded their production capabilities to include more complex and safety-critical electronic assemblies, especially for automotive and medical applications. These projects are geared towards enhancing product reliability and performance, aligning with the company's commitment to quality and customer satisfaction.
Financial Condition
Kimball Electronics has demonstrated consistent financial health, primarily deriving its revenue from the United States market. Their strategic focus on high-growth sectors and long-term partnerships has fortified their financial position, allowing for sustainable growth and investment in new technologies and capabilities.
Partnerships and Collaborations
The company maintains strong partnerships across various sectors, ensuring a robust supply chain and collaborative innovation processes. These partnerships are pivotal in driving technological advancements and delivering superior value to their customers.
Conclusion
Kimball Electronics stands out as a leading provider of electronic manufacturing services, deeply integrated into essential industries. With a high-performance culture and a steadfast focus on quality and reliability, the company continues to drive forward, ensuring growth and success for its customers and employees alike.
Kimball Electronics reported a record net sales of $436.7 million for Q2 fiscal 2023, marking a 39% year-over-year increase. Despite a 5% unfavorable impact from foreign currency, the company's operating income rose to $17.5 million, equating to 4.0% of net sales. Net income more than doubled to $10.7 million, or $0.43 per diluted share. The company has raised its fiscal 2023 net sales guidance to between $1.7 billion and $1.8 billion, reflecting a projected growth of 26% to 33% year-over-year. Operating margins are anticipated to improve towards the higher end of the 4.6% to 5.2% guidance range.
Kimball Electronics (Nasdaq: KE) will participate in the SPIE Photonics West Conference from January 28 to February 2, 2023, at The Moscone Center, San Francisco, CA. Dr. Sangtaek Kim will present on optical leak detection technology on January 30 at 4:00 PM PST. This technology offers high-speed, non-destructive leak testing, enhancing manufacturing processes across various sectors including consumer electronics and medical industries. Christopher J. Thyen, VP of New Platforms, highlighted its capability to improve testing efficiency and resolve defects swiftly. GES operates globally, aiming to revolutionize leak testing.
Kimball Electronics, Inc. (Nasdaq: KE) will announce its second quarter fiscal year 2023 financial results on February 6, 2023, after market close. A conference call will follow on February 7, 2023, at 10:00 a.m. Eastern Time. Investors can access the call by dialing 844-200-6205 in the U.S. or 929-526-1599 internationally, using conference ID 914955. A live webcast will be available at investors.kimballelectronics.com, with an archived replay for those unable to attend.
Kimball Electronics announces the retirement of Donald D. Charron as CEO on February 28, 2023, after 24 years of leadership, a tenure marked by significant achievements and nearly $2 billion in annual revenues. Ric Phillips will succeed him as CEO starting March 1, 2023, bringing over 20 years of experience from roles at Elkay Manufacturing and Essendant. The company anticipates growth due to a robust order backlog and recent facility expansions.
Kimball Electronics (Nasdaq: KE) will participate in the Sidoti December Small-Cap 2022 Virtual Conference.
Chief Financial Officer Jana Croom is set to present on Wednesday, December 7, 2022, at 1:00 PM ET. A live webcast of the presentation will be accessible through the company's website, specifically in the Events & Presentations section of Investor Relations. If you miss the live event, an archive will be available later on the same webpage.
Kimball Electronics (Nasdaq: KE) will participate in the 14th Annual Southwest IDEAS Investor Conference on November 17, 2022, in Dallas, TX. CEO Donald D. Charron will present at 8:45 AM CT. A live webcast will be available on the company's website, with an archive to follow for those unable to attend. The IDEAS Conferences aim to connect quality companies with investment professionals and feature sponsors managing over $200 billion in assets. Kimball Electronics is committed to high performance and excellence in manufacturing solutions across various global locations.
Kimball Electronics reported record net sales of $405.9 million in Q1 fiscal 2023, a 39% year-over-year increase, despite a 5% adverse impact from currency fluctuations. Operating income rose to $13.6 million (3.3% of net sales) from $4.8 million (1.6%). Net income increased to $9.5 million or $0.38 per diluted share, up from $2.6 million or $0.10. The company affirmed its fiscal 2023 guidance, expecting net sales between $1.6 - $1.7 billion, a 19% - 26% increase year-over-year.
Kimball Electronics, Inc. (Nasdaq: KE) will host its Annual Meeting of Share Owners on November 11, 2022, at 9:00 a.m. Eastern Time at its headquarters in Jasper, Indiana. Shareholders registered by the September 12, 2022 record date can vote in person or submit proxies. Kimball Electronics provides diversified contract manufacturing services globally, emphasizing quality and reliability across various industries.
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