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Kimball Electronics, Inc. reports developments as a global manufacturer offering Electronics Manufacturing Services and Contract Manufacturing Organization solutions. The company serves automotive, medical, industrial, and public safety markets, including safety-critical electronic assemblies for automotive customers and medical CMO manufacturing services.
Company news commonly covers quarterly operating results, sales trends by vertical market, margin and cash-flow commentary, financial guidance, manufacturing capacity updates, sustainability reporting, leadership and governance matters, and participation in investor conferences. Kimball Electronics operates through business units in the United States, China, Mexico, Poland, Romania, and Thailand.
Kimball Electronics (Nasdaq: KE) will release its second quarter fiscal year 2021 financial results on February 3, 2021, post-market close. A conference call and live webcast to discuss the results will be held on February 4, 2021, at 10:00 a.m. ET. Interested participants can access the call by dialing 800-992-4934 or 937-502-2251 internationally, using conference ID 7896947. The webcast will be available online and archived for later access. Kimball Electronics provides diversified manufacturing solutions globally, emphasizing quality and ethical practices.
Kimball Electronics (Nasdaq: KE) has appointed Jana Croom as Vice President of Finance, a newly created executive role. Croom, previously at NiSource, brings over 20 years of experience in finance and leadership. She has held significant roles in financial planning and operations, focusing on strategic outcomes. Croom holds an MBA from The Ohio State University. Her appointment reflects the company's commitment to enhancing shareholder value and driving continuous improvement. Kimball Electronics provides diversified manufacturing services globally, maintaining a high-performance culture.
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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.