Business
Kimball Electronics Reports Q2 Results With Record Sales and Expanding Operating Margin; Company Raises Outlook for Top-line Growth in Fiscal Year 2023
Net sales in the second quarter of fiscal 2023 totaled $436.7 million, an all-time quarterly high and up 39% year-over-year; foreign currency had a 5%
About this update from Kimball Electronics, Inc.
[{"type":"text","content":"\n\nNet sales in the second quarter of fiscal 2023 totaled $436.7 million, an all-time quarterly high and up 39% year-over-year; foreign currency had a 5% unfavorable impact on net sales compared to the second quarter of fiscal 2022\n\n\n\nOperating income of $17.5 million, or 4.0% of net sales, compared to operating income of $6.9 million, or 2.2% of net sales in the same period last year\n\n\n\nNet income of $10.7 million, or $0.43 per diluted share, compared to net income of $5.1 million, or $0.20 per diluted share, in the second quarter of fiscal 2022\n\n\n JASPER, Ind.--(BUSINESS WIRE)--\nKimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the second quarter ended December 31, 2022.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005480/en/\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\nSix Months Ended\n\n\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n\n\n(Amounts in Thousands, except EPS)\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n\n\nNet Sales\n\n\n\n$\n\n\n\n436,696\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n315,264\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n842,585\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n607,981\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n$\n\n\n\n17,489\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n6,914\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31,060\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n11,694\n\n\n\n \n\n\n\n\n\nAdjusted Operating Income (non-GAAP) (1)\n\n\n\n$\n\n\n\n17,829\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n7,316\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31,165\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n10,625\n\n\n\n \n\n\n\n\n\nOperating Income %\n\n\n\n \n\n\n\n4.0\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n2.2\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n3.7\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n1.9\n\n\n\n%\n\n\n\n\n\nAdjusted Operating Income (non-GAAP) %\n\n\n\n \n\n\n\n4.1\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n2.3\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n3.7\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n1.7\n\n\n\n%\n\n\n\n\n\nNet Income\n\n\n\n$\n\n\n\n10,720\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,113\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n20,229\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n7,677\n\n\n\n \n\n\n\n\n\nAdjusted Net Income (non-GAAP) (1)\n\n\n\n$\n\n\n\n10,999\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,113\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n20,508\n\n\n\n \n\n\...