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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, 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%.