Business
Kimball Electronics Reports Q3 Results With Record Revenue and Expanding Operating Margin; Company Updates Outlook for Fiscal Year 2023 With Sales Expected at the High-End and Adjusted Operating Margin in the Mid-to-Low End of Its Guidance Range
Net sales in the third quarter of fiscal 2023 totaled $484.7 million, an all-time quarterly high and up 32% year-over-year; foreign currency had a 2%
About this update from Kimball Electronics, Inc.
[{"type":"text","content":"\n\nNet sales in the third quarter of fiscal 2023 totaled $484.7 million, an all-time quarterly high and up 32% year-over-year; foreign currency had a 2% unfavorable impact on net sales compared to the third quarter of fiscal 2022\n\n\n\nOperating income of $25.2 million, or 5.2% of net sales, compared to $20.3 million, or 5.5% of net sales, in the same period last year\n\n\n\nAdjusted operating income of $25.6 million, or 5.3% of net sales, compared to $19.6 million, or 5.3% of net sales, in the same period last year\n\n\n\nNet income of $16.4 million, or $0.65 per diluted share, compared to net income of $13.6 million, or $0.54 per diluted share, in the third quarter of fiscal 2022\n\n\n\n JASPER, Ind.--(BUSINESS WIRE)--\nKimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the third quarter ended March 31, 2023.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230504005856/en/\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\nNine Months Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\nMarch 31,\n\n\n\n\n\n\n\n\n(Amounts in Thousands, except EPS)\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n\n\nNet Sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n484,703\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n368,057\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,327,288\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n976,038\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n25,220\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n20,277\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n56,280\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n31,971\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Operating Income (non-GAAP) (1)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n25,573\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n19,558\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n56,738\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n30,183\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income %\n\n\n\n\n\n\n \n\n\n\n\n\n\n5.2\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n5.5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4.2\n\n\...