Welcome to our dedicated page for Kimball Electronics news (Ticker: KE), a resource for investors and traders seeking the latest updates and insights on Kimball Electronics stock.
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, Inc. (Nasdaq: KE) announced an extension of its stock repurchase plan, authorizing an additional purchase of up to $20 million of its common stock, bringing the total authorized repurchases to $100 million without expiration. This move reflects the Board's confidence in the company's business model and strong cash flow. The repurchases may occur via various methods, including in open-market transactions, based on market conditions and corporate considerations. The company plans to fund the purchases using existing liquidity.
Kimball Electronics reported a record quarterly net sales of $332 million for the first quarter of fiscal year 2021, representing a 6% year-over-year increase. Operating income reached $17.8 million, with net income at $16.8 million and diluted EPS of $0.66. Sales in the medical vertical surged 25% year-over-year, while automotive sales rose 61% sequentially. Cash flow from operations was strong at $20.7 million, though down from $39.6 million in the previous year. The company expects sales normalization in medical and growth in automotive markets in the upcoming quarter.
Kimball Electronics, Inc. (Nasdaq: KE) will announce its first quarter fiscal year 2021 financial results on November 3, 2020, after the market closes. A conference call is scheduled for November 4, 2020, at 10:00 a.m. Eastern Time to discuss the results. Interested parties can access the call via 800-992-4934 or 937-502-2251 for international calls, using conference ID 7190817. The webcast will be available on Kimball's investor relations website.
Kimball Electronics (Nasdaq: KE) has announced a shift to a virtual-only 2020 Annual Meeting due to the ongoing COVID-19 pandemic. The meeting is scheduled for November 10, 2020, at 9:00 A.M. EST. Share Owners as of the record date September 8, 2020, are eligible to participate and vote. Attendees must enter a 16-digit control number to join the webcast. Voting is encouraged in advance, though allowed during the meeting. The company emphasizes its commitment to a high-performance culture and offers diverse manufacturing solutions globally.
Kimball Electronics (NASDAQ: KE) has appointed Douglas A. Hass as Associate General Counsel and Assistant Secretary, effective immediately. Previously serving as General Counsel for Lifeway Foods, Mr. Hass brings extensive legal expertise and a decade of experience in the technology sector. John Kahle, VP and General Counsel, noted that Mr. Hass's leadership skills are crucial as the company continues to grow since becoming a public entity in 2014. Kimball Electronics operates globally, providing manufacturing solutions across various industries, focusing on quality and ethical behavior.
Kimball Electronics reported its fourth-quarter financial results for fiscal year 2020, revealing net sales of $286 million, a decline of 10% year-over-year. The company experienced a net loss of $1.3 million, which includes a non-cash goodwill impairment charge of $6.9 million. However, adjusted net income was $8.5 million, with a loss per share of $0.05 and an adjusted diluted EPS of $0.34. The company generated robust operating cash flows of $21.5 million.
Sales in the medical vertical surged 23% year-over-year, while automotive sales fell 43% due to COVID-19 disruptions.
Kimball Electronics (NASDAQ: KE) will report its Q4 fiscal year 2020 financial results on August 18, 2020, post-market. A conference call to discuss these results is scheduled for August 19, 2020, at 10:00 a.m. ET. Interested parties can join via telephone or online webcast. The call will also be archived for later access. Kimball Electronics is a leading provider of manufacturing solutions for various industries, operating globally in multiple countries.
Kimball Electronics, Inc. (NASDAQ: KE) announced internal promotions aimed at accelerating its strategic growth on June 30, 2020. Effective July 1, Steve Korn has been appointed President of Global Electronics Manufacturing Services (EMS) Operations, while Lee Kemper becomes Vice President of Diversified Contract Manufacturing Services (DCMS). CEO Donald D. Charron highlighted their leadership and contributions, noting Korn's role in achieving over $1 billion in sales. The restructuring consolidates operations under Korn to enhance the company's focus on its core EMS business and Industry 4.0 strategy.
Kimball Electronics (NASDAQ: KE) reported third-quarter net sales of $294 million, down 6% year-over-year. The company posted a net income of $6.3 million with diluted earnings per share (EPS) of $0.25. Cash flows from operations were strong at $12.0 million, improving from a cash outflow of $14.6 million in the same quarter last year. They experienced a decline in sales across several verticals, particularly a 12% drop in medical sales, but anticipate increased demand for medical assemblies related to respiratory care. The company reported a return on invested capital of 7.1%.
FAQ
What is the current stock price of Kimball Electronics (KE)?
What is the market cap of Kimball Electronics (KE)?
What industries does Kimball Electronics serve?
What services does Kimball Electronics provide?
What makes Kimball Electronics stand out?
Where does Kimball Electronics derive most of its revenue?
What recent projects has Kimball Electronics undertaken?
What is the company's commitment to its employees?
How does Kimball Electronics ensure product quality?
Does Kimball Electronics have strong industry partnerships?
What is Kimball Electronics' approach to financial health?
What sectors does Kimball Electronics prioritize?
