Kimball Electronics (KE) Reports Q3 EPS of $0.46

Kimball Electronics (NASDAQ: KE) reported Q3 EPS of $0.46, versus $0.40 reported last year. Revenue for the quarter came in at $313.45 million, versus $283.94 million reported last year.

• Quarterly records for net sales, operating income, net income, and diluted EPS
• Net sales up 10% year-over-year to $313 million
• Record quarterly operating income of $14.5 million
• New quarterly records for net income of $11.8 million and diluted earnings per share of $0.46
• Returned $4.7 million to Share Owners in stock repurchases during the quarter

Donald D. Charron, Chairman and Chief Executive Officer, stated, “We delivered record sales, operating income, net income, and diluted EPS in our third quarter. Strong double-digit organic growth in our Medical and Industrial end market verticals helped us exceed our 8% organic growth goal and set the new quarterly sales record. New program launches and ramp-ups more than offset continued softness in certain other programs primarily caused by global macro-economic conditions and trade uncertainties.”

Mr. Charron continued, “We made excellent progress optimizing the business as we were successful expanding our operating margin by 70 basis points when compared to the third quarter of fiscal year 2018, helping us exceed our goal of 4.5% operating income. Our acquisition integration work with GES continues as we remain focused on our strategy to become a multifaceted manufacturing solutions company. We have good momentum, and we are cautiously optimistic that we can begin to consistently achieve our goals of 8% organic growth and 4.5% operating income.”

For earnings history and earnings-related data on Kimball Electronics (KE) click here.

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