Kimball Electronics, Inc. Reports Second Quarter Fiscal Year

Kimball Electronics, Inc. Reports Second Quarter Fiscal Year 2019 Results

Condensed Consolidated Statements of Income
(Unaudited)	Three Months Ended
(Amounts in Thousands, except Per Share Data)	December 31, 2018 ⁽¹⁾					December 31, 2017
Net Sales	$	284,149		100.0	%	$	258,151		100.0	%
Cost of Sales ⁽²⁾	263,705			92.8	%	237,230			91.9	%
Gross Profit ⁽²⁾	20,444			7.2	%	20,921			8.1	%
Selling and Administrative Expenses ⁽²⁾	10,232			3.6	%	10,802			4.2	%
Operating Income ⁽²⁾	10,212			3.6	%	10,119			3.9	%
Other Income (Expense), net ⁽²⁾	(1,593		)	(0.6	)%	467			0.2	%
Income Before Taxes on Income	8,619			3.0	%	10,586			4.1	%
Provision for Income Taxes	1,504			0.5	%	18,933			7.3	%
Net Income (Loss)	$	7,115		2.5	%	$	(8,347	)	(3.2	)%

Earnings Per Share of Common Stock:
Basic	$	0.27				$	(0.31	)
Diluted	$	0.27				$	(0.31	)

Average Number of Shares Outstanding:
Basic	25,993					26,765
Diluted	26,036					26,765


(Unaudited)	Six Months Ended
(Amounts in Thousands, except Per Share Data)	December 31, 2018 ⁽¹⁾					December 31, 2017
Net Sales	$	549,769		100.0	%	$	511,355	100.0	%
Cost of Sales ⁽²⁾	511,139			93.0	%	470,981		92.1	%
Gross Profit ⁽²⁾	38,630			7.0	%	40,374		7.9	%
Selling and Administrative Expenses ⁽²⁾	21,478			3.9	%	20,732		4.1	%
Other General Income	(92		)	—	%	—		—	%
Operating Income ⁽²⁾	17,244			3.1	%	19,642		3.8	%
Other Income (Expense), net ⁽²⁾	(2,147		)	(0.4	)%	1,779		0.4	%
Income Before Taxes on Income	15,097			2.7	%	21,421		4.2	%
Provision for Income Taxes	2,913			0.5	%	21,288		4.2	%
Net Income	$	12,184		2.2	%	$	133	—	%

Earnings Per Share of Common Stock:
Basic	$	0.46				$	—
Diluted	$	0.46				$	—

Average Number of Shares Outstanding:
Basic	26,250					26,812
Diluted	26,404					27,007