Kimball Electronics Reports Q1 Results with Record Sales and Improving Year-Over-Year Operating Margin
Nov 7, 2022, 00:00 AM
Company Affirms Guidance for Fiscal 2023 with Full Year Expected at the High-End of the Range for Sales and Operating Margin.
JASPER, Ind.--(BUSINESS WIRE)-- Kimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the first quarter ended September 30, 2022.
Net sales in the first quarter of fiscal 2023 totaled $405.9 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 first quarter of fiscal 2022
Operating income of $13.6 million, or 3.3% of net sales, compared to operating income of $4.8 million, or 1.6% of net sales in the same period last year
Net income of $9.5 million, or $0.38 per diluted share, compared to net income of $2.6 million, or $0.10 per diluted share, in the first quarter of fiscal 2022
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