September 25, 2016 4:35 PM ET

Electronic Equipment, Instruments and Components

Company Overview of Kimball Electronics, Inc.

Company Overview

Kimball Electronics, Inc., a contract electronic manufacturing services company, engages in producing durable electronics for the automotive, medical, industrial, and public safety markets primarily in the United States, China, Mexico, Poland, Romania, and Thailand. Its engineering, manufacturing, and supply chain services include design services; rapid prototyping and new product introduction support; production and testing of printed circuit board assemblies; industrialization and automation of manufacturing processes; product design and process validation and qualification; reliability testing; assembly, production, and packaging of other related non-electronic products; supply chain serv...

1205 Kimball Boulevard

Jasper, IN 47546

United States

Founded in 1961

4,500 Employees

Phone:

812 634 4000

Key Executives for Kimball Electronics, Inc.

Chairman and Chief Executive Officer
Age: 52
Total Annual Compensation: $646.0K
Chief Financial Officer and Vice President
Age: 56
Total Annual Compensation: $267.8K
Chief Compliance Officer, Vice President, General Counsel and Secretary
Age: 59
Total Annual Compensation: $397.8K
Vice President of Business Development
Age: 53
Total Annual Compensation: $267.8K
Vice President of North American Operations & Global Supply Chain
Age: 51
Total Annual Compensation: $290.3K
Compensation as of Fiscal Year 2016.

Kimball Electronics, Inc. Key Developments

Kimball Electronics, Inc. Announces the Resignation of Christopher B. Curtis from its Board of Directors

Kimball Electronics, Inc. announced the resignation of Christopher B. Curtis from its Board of Directors (the “Board”), effective September 9, 2016. On August 1, 2016, Mr. Curtis assumed the position of Chief Executive Officer of the Wencor Group. Given the time commitment of his full-time executive responsibilities as Wencor Group’s CEO, Mr. Curtis has determined that he needs to limit his outside activities and that his resignation from the Board would be appropriate and in the best interests of the Company’s Share Owners. The company intends to immediately begin a search for Mr. Curtis’s successor.

Kimball Electronics Inc. Seeks Acquisitions

Kimball Electronics, Inc. (NasdaqGS:KE) is seeking acquisitions. DON CHARRON, Chairman of the Board, Chief Executive Officer of Kimball Electronics stated that the company is working on and of course the two new acquisitions that we're working to integrate.

Kimball Electronics, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2016; Provides Capital Expenditure Guidance for Fiscal 2017 and Fiscal 2018

Kimball Electronics, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2016. For the quarter, the company reported net sales of $220,402,000 against $201,126,000 for the same period a year ago. Operating income was $8,790,000 against $9,050,000 for the same period a year ago. Income before taxes on income was $8,065,000 against $8,695,000 for the same period a year ago. Net income was $5,771,000 or $0.20 per basic and diluted share against $7,394,000 or $0.25 per basic and diluted share for the same period a year ago. Adjusted operating income was $8,790,000 against $9,074,000 for the same period a year ago. Adjusted net income was $5,771,000 or $0.20 per diluted share against $7,410,000 or $0.25 per diluted share for the same period a year ago. For the year, the company reported net sales of $842,060,000 against $819,350,000 for the same period a year ago. Operating income was $29,722,000 against $36,355,000 for the same period a year ago. Income before taxes on income was $27,976,000 against $34,771,000 for the same period a year ago. Net income was $22,287,000 or $0.76 per diluted share against $26,205,000 or $0.89 per diluted share for the same period a year ago. Net cash flow provided by operating activities was $36,832,000 against $28,064,000 for the same period a year ago. Adjusted operating income was $29,859,000 against $38,949,000 for the same period a year ago. Adjusted net income was $22,372,000 or $0.77 per diluted share against $28,631,000 or $0.97 per diluted share for the same period a year ago. Capital expenditures were $34.6 million in fiscal year 2016 compared to $36.9 million in fiscal year 2015. Fiscal year 2017 capital expenditures are expected to remain at a similar level as fiscal year 2016 with significantly higher spending occurring in the first half of the year. Fiscal year 2018 capital expenditures are expected to decline to a level that approximates depreciation expense.

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