Business
Kimball Electronics Reports Q4 and Full Year Fiscal 2023 Results With Record Sales and Operating Income; Company Provides Guidance for Fiscal 2024
Fourth Quarter Fiscal 2023 Highlights Net sales totaled $496.1 million, a 33% increase compared to Q4 fiscal 2022, and completing a fiscal year with top-line
About this update from Kimball Electronics, Inc.
[{"type":"text","content":"\nFourth Quarter Fiscal 2023 Highlights\n\n\n\nNet sales totaled $496.1 million, a 33% increase compared to Q4 fiscal 2022, and completing a fiscal year with top-line growth of 35%.\n\n\n\nOperating income of $31.4 million, or 6.3% of net sales, a record high for the Company. For fiscal year 2023, operating income was 4.8% of net sales.\n\n\n\nNet income of $19.2 million, or $0.76 per diluted share. In fiscal year 2023, the Company earned $2.22 per diluted share, a 79% increase compared to the prior year.\n\n\n\nCash flow generated from operating activities of $44.1 million in Q4.\n\n\n\nCompany provides guidance for fiscal 2024 with expected top-line growth of 4%-7% and operating income in the range of 4.7%-5.2% of net sales.\n\n\n\n JASPER, Ind.--(BUSINESS WIRE)--\nKimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the fourth quarter and fiscal year ended June 30, 2023.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230816530676/en/\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\nFiscal Year Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n\n\n(Amounts in Thousands, except EPS)\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n\n\nNet Sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n496,141\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n373,497\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,823,429\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,349,535\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating Income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n31,449\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n20,578\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n87,729\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n52,549\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted Operating Income (non-GAAP) (1)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n31,480\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n19,419\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n88,218\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\n49,602\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\n6.3\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\...