Kimball Electronics, Inc. Reports Second Quarter Fiscal Year 2019 Results
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Reconciliation of Non-GAAP Financial Measures | | | | | | | | (Unaudited) | | | | | | | | | (Amounts in Thousands, except Per Share Data) | | | | | | | | | | | | | | | | | |
Operating Income excluding Lawsuit Proceeds | | |
Three Months Ended | |
Six Months Ended | | |
December 31, | |
December 31, | | |
2018 | |
2017 | |
2018 | |
2017 | | Operating Income, as reported (1) | $ | 10,212 | | | $ | 10,119 | | | $ | 17,244 | | | $ | 19,642 | | | Less: Pre-tax Settlement Proceeds from Lawsuit | — | | | — | | | 92 | | | — | | | Adjusted Operating Income (1) | $ | 10,212 | | | $ | 10,119 | | | $ | 17,152 | | | $ | 19,642 | | | | | | | | | | | | | | | | | | | | |
Net Income excluding Tax Reform and Lawsuit Proceeds | | |
Three Months Ended | |
Six Months Ended | | |
December 31, | |
December 31, | | |
2018 | |
2017 | |
2018 | |
2017 | | Net Income (Loss), as reported | $ | 7,115 | | | $ | (8,347 | ) | | $ | 12,184 | | | $ | 133 | | | Add: Adjustments to Provision for Income Taxes Resulting from Tax Reform | (251 | ) | | 16,580 | | | (251 | ) | | 16,580 | | | Less: After-tax Settlement Proceeds from Lawsuit | — | | | — | | | 70 | | | — | | | Adjusted Net Income | $ | 6,864 | | | $ | 8,233 | | | $ | 11,863 | | | $ | 16,713 | | | | | | | | | | | |
Diluted Earnings per Share excluding Tax Reform and Lawsuit Proceeds | | |
Three Months Ended | |
Six Months Ended | | |
December 31, | |
December 31, | | |
2018 | |
2017 | |
2018 | |
2017 | | Diluted Earnings (Loss) per Share, as reported | $ | 0.27 | | | $ | (0.31 | ) | | $ | 0.46 | | | $ | 0.00 | | | Add: Adjustments to Provision for Income Taxes Resulting from Tax Reform | (0.01 | ) | | 0.62 | | | (0.01 | ) | | 0.62 | | | Less: Impact of Settlement Proceeds from Lawsuits | — | | | — | | | 0.00 | | | — | | | Adjusted Diluted Earnings per Share | $ | 0.26 | | | $ | 0.31 | | | $ | 0.45 | | | $ | 0.62 | | | | | | | | | | | | | | | | | | | | |
Return on Invested Capital (ROIC) | | | | | | | | | | | |
Twelve Months Ended | | | | |
December 31, | | | | | | |
2018 | |
2017 | | Operating Income (GAAP) (1) | | | | | $ | 39,640 | | | $ | 37,515 | | | Less: Pre-tax Settlement Proceeds from Lawsuit | | | | | $ | 92 | | | $ | — | | | Adjusted Operating Income (non-GAAP) (1) | | | | | $ | 39,548 | | | $ | 37,515 | | | Tax Effect (2) | | | | | $ | 8,982 | | | $ | 7,269 | | | After Tax Adjusted Operating Income | | | | | $ | 30,566 | | | $ | 30,246 | | | Average Invested Capital (3) | | | | | $ | 342,408 | | | $ | 308,339 | | | ROIC | | | | | 8.9 | % | | 9.8 | % |
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