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Kewaunee Scientific Corporation reports developments tied to its laboratory, healthcare and technical furniture business. The company designs, manufactures and installs steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks for laboratory and research environments.
Recurring KEQU news includes quarterly operating results, Domestic and International segment performance, Nu Aire integration and product expansion, debt refinancing, commercial leadership appointments, and global sales activity. Updates also cover the company's laboratory infrastructure and biosafety product portfolio, including Nu Aire biological safety cabinets, CO2 incubators, ultralow freezers, and related laboratory equipment.
Kewaunee Scientific Corporation (NASDAQ: KEQU) announced that its Kewaunee International Group received the 'Customer Centricity' award from the Confederation of Indian Industry (CII) on December 15, 2020. This recognition underscores the company's commitment to customer service, especially during the challenges posed by the COVID-19 pandemic. Executives highlighted the award's significance, reflecting Kewaunee's dedication to delivering exceptional customer experiences. The assessment for this award was based on a structured evaluation by CII judges, aligning with excellence frameworks.
Kewaunee Scientific Corporation (NASDAQ: KEQU) reported second quarter fiscal 2021 results, with sales of $39 million, a 1.8% decrease year-over-year. The company experienced a pre-tax loss of $362,000 compared to $158,000 last year, while net losses improved to $180,000 or ($0.07) per diluted share, a significant reduction from the previous year’s loss of $2.18 million. Domestic segment sales fell 8.9% to $28.77 million, but the international segment saw a 25.7% increase to $10.23 million. Corporate expenses rose 24.1%, impacting overall profitability.
Kewaunee Scientific Corporation (Nasdaq: KEQU) will release its second-quarter fiscal year 2021 financial results on December 9, 2020, after trading hours. This announcement follows a decision to stop issuing financial results via press releases, with all future updates available on their investor relations website. Founded in 1906, Kewaunee Scientific specializes in designing and manufacturing laboratory and healthcare furniture, with multiple facilities in the U.S. and India.
Kewaunee Scientific Corporation (NASDAQ: KEQU) reported a 7.4% decline in first quarter sales, totaling $36.4 million, compared to $39.3 million last year. The company faced a pre-tax loss of $587,000, reversing from last year's earnings of $665,000. Net earnings fell 227% to a loss of $598,000, or ($0.22) per diluted share. While domestic sales grew 2.6% to $30.1 million, international sales plummeted 36.7%. Corporate expenses rose 27.6% due to increased pension expenses. Cash reserves decreased slightly to $4.8 million, with working capital at $27.8 million.
Kewaunee Scientific Corporation (Nasdaq: KEQU) will release its first quarter fiscal year 2021 financial results on September 8, 2020, after market close. The results will be available on the company’s website at www.kewaunee.com. Founded in 1906, Kewaunee specializes in laboratory, healthcare, and technical furniture products, with manufacturing facilities in North Carolina and India. The company emphasizes forward-looking statements regarding its financial condition and operational results, acknowledging risks and uncertainties that could impact actual outcomes.
Kewaunee Scientific Corporation (NASDAQ: KEQU) has announced the establishment of a Technical Service Organization in Saudi Arabia to enhance its operations in the Middle East and Africa. This initiative aims to strengthen Kewaunee's presence and relationships with regional customers, leveraging local talent to support its growing market. The company's leadership anticipates that this move will facilitate tailored solutions and foster long-term partnerships, contributing to sustained growth in these emerging markets.
Kewaunee Scientific Corporation (NASDAQ: KEQU) reported a 4Q 2020 net loss of $1,062,000, down from $1,270,000 a year earlier, with a diluted loss per share of ($0.39). 4Q sales totaled $34,257,000, a 1.4% decline year-over-year, impacted significantly by the coronavirus pandemic. Domestic sales rose 11.6% to $27,533,000, while international sales plunged 33.2% to $6,724,000. For fiscal year 2020, sales rose slightly to $147,540,000, with a net loss of $4,687,000. The company cited operational challenges from the pandemic and ongoing restructuring efforts as key factors affecting profitability.
Kewaunee Scientific Corporation (NASDAQ: KEQU) will release its fourth quarter and fiscal year-end 2020 financial results on July 21, 2020, post market close. The delay is attributed to mandated government shutdowns affecting international subsidiaries' year-end activities. Additionally, the company will hold its annual shareholder meeting virtually on August 26, 2020, due to COVID-19 related travel uncertainties. Kewaunee Scientific specializes in manufacturing laboratory and technical furniture products.