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. (Nasdaq: KE) generates a steady flow of corporate, financial, and strategic news as a global manufacturer providing Electronics Manufacturing Services (EMS) and Contract Manufacturing Organization (CMO) solutions. From its headquarters in Jasper, Indiana, and operations in the United States, China, Mexico, Poland, Romania, and Thailand, the company reports developments related to its automotive, medical, and industrial vertical markets.
News for KE commonly includes quarterly and annual earnings releases, where Kimball Electronics discusses net sales by vertical market, operating income, adjusted operating income, cash generation from operations, and portfolio changes such as the divestiture of its Automation, Test, and Measurement business. These updates often highlight trends in automotive programs like electronic power steering, body controls, advanced driver-assistance or automated driver assist systems, and electronic braking systems, as well as medical programs in areas such as sleep therapy and respiratory care, guided therapy, in vitro diagnostics, drug delivery, AED, and patient monitoring.
Investors and observers can also expect news about strategic initiatives and capacity investments. The company has announced a new medical CMO facility in Indianapolis, describing it as a significant step in its medical strategy, and later detailed a ribbon-cutting event for an advanced medical manufacturing and innovation hub serving the medical and life sciences industries. Kimball Electronics has also communicated its intention to rebrand as Kimball Solutions, subject to approvals, reflecting what it describes as an expanded portfolio of capabilities and a solutions-driven approach.
Additional news items include participation in investor and industry conferences, announcements of annual meeting dates and proxy-related information, and leadership or governance updates reported through press releases and current reports on Form 8-K. For users following KE, this news stream provides context on the company’s operational performance, strategic focus on medical CMO activities, and its ongoing evolution within the EMS and manufacturing landscape.
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) has announced the appointment of Michele Holcomb, PhD, to its board of directors as an independent non-executive director, effective September 23, 2024. Dr. Holcomb brings over 30 years of experience in global healthcare, having held notable positions at Cardinal Health, Teva Pharmaceuticals, and McKinsey & Company. Her expertise in leading transformational growth initiatives and driving organizational progress is expected to complement PureTech's board leadership as the company enters its next phase of growth.
Dr. Holcomb will join the Audit Committee, while Dr. Raju Kucherlapati, Chair of the PureTech Board, will step down from this committee. The appointment is seen as strategic for PureTech's focus on innovating and progressing major advances for patients, leveraging Dr. Holcomb's broad biopharma experience to deliver on the company's commitment to developing innovative medicines and building shareholder value.
Kimball Electronics (Nasdaq: KE) reported Q4 fiscal 2024 results with net sales of $430.2 million and operating income of $19.6 million (4.6% of net sales). The company generated $48.5 million in cash flow from operations, driven by inventory reductions. For the full fiscal year 2024, net sales totaled $1.71 billion with adjusted operating income of $74.3 million (4.3% of net sales).
CEO Richard D. Phillips noted challenging market conditions and the company's focus on cost structure adjustments and working capital management. Kimball Electronics completed the divestiture of its Automation, Test and Measurement business, strengthening its balance sheet and strategic focus. For fiscal 2025, the company projects net sales between $1.44-$1.54 billion and adjusted operating income of 4.0-4.5% of net sales.
Averna, a global test & quality solutions provider, has acquired Global Equipment Services, Inc. (GES) from Kimball Electronics, Inc. (Nasdaq: KE). This strategic move expands Averna's presence in Asia and North America, adding 600 new employees and offices in Vietnam, China, India, Japan, and Silicon Valley. The acquisition creates one of the largest independent system integrators in test automation, with 1,200 employees across 20 offices in 11 countries.
GES specializes in automation, test, and measurement solutions for industries like consumer electronics, semiconductor, and medical devices. The merger combines both companies' strengths, enhancing Averna's global footprint and technical capabilities. With this acquisition, Averna gains 160,000 ft² of new manufacturing space, including class 100K and 10K clean rooms, positioning itself to tackle large-scale customer challenges worldwide.
Kimball Electronics (Nasdaq: KE) has completed the divestiture of its Automation, Test, and Measurement (AT&M) business to Averna Technologies Inc. on July 31, 2024. The proceeds will support organic growth, debt reduction, and share repurchases. CEO Richard D. Phillips stated that while they enhanced AT&M capabilities since acquiring Global Equipment Services (GES) in 2018, it wasn't a strategic fit for Kimball. The company will now focus on core Electronics Manufacturing Services (EMS) operations. Averna's CEO, Francois Rainville, welcomed the addition, which strengthens their position in automation, test, and measurement globally. B. Riley Securities acted as the exclusive financial advisor for the transaction.
Kimball Electronics (Nasdaq: KE) has announced the schedule for reporting its fourth quarter and fiscal year 2024 financial results. The company will release its financial report on Tuesday, August 13, 2024, after the market closes. Following this, Kimball Electronics will host a conference call and live webcast on Wednesday, August 14, 2024, at 10:00 a.m. Eastern Time to review the results.
Investors and interested parties can access the conference call by dialing 877-407-8293 (domestic) or +1 201-689-8349 (international). A live webcast of the call will be available on the company's investor relations website at investors.kimballelectronics.com. For those unable to participate in the live event, a replay will be archived on the same website for future access.
Kimball Electronics (Nasdaq: KE) has appointed Andrew D. Regrut as Treasurer and Investor Relations Officer, effective June 1, 2024. Regrut, who has been with the company since March 2021, will manage Treasury operations in addition to Investor Relations. CFO Jana T. Croom expressed confidence in Regrut's ability to enhance the company's capital structure and future growth. The announcement precedes Kimball Electronics' participation in the Stifel Cross Sector Insight Conference in Boston on June 5, 2024, where CEO Richard D. Phillips will present an overview of the company. The presentation will be webcast live and available for replay on the company's website.
Kimball Electronics, Inc. (Nasdaq: KE) will participate in various investor conferences in May 2024. The company will attend the Oppenheimer 19th Annual Industrial Growth Conference, EF Hutton Annual Global Conference, and B. Riley Securities 24th Annual Institutional Investor Conference. Kimball Electronics is a global provider of electronics manufacturing services with operations in multiple countries. The company values quality, reliability, speed, and ethical behavior.
Kimball Electronics, Inc. (Nasdaq: KE) reported Q3 results with $425.0 million in net sales and a net loss of $6.1 million, including impairment costs related to the Automation, Test & Measurement business. The company expects to divest this segment. Adjusted net income was $8.4 million, and adjusted operating income was $17.0 million. The company is focusing on EMS operations, aligning costs with demand trends, and reducing capital expenditures. Share repurchases have resumed. Guidance for fiscal 2024 includes a 4-6% decline in net sales and adjusted operating income of 4.2-4.6% of net sales.
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