Financial Performance - The company reported record quarterly net sales of $484.7 million for the third quarter of fiscal year 2023, a 32% increase from $368.1 million in the same quarter of fiscal year 2022[97]. - Gross profit for the third quarter of fiscal year 2023 was $43.0 million, representing 8.9% of net sales, compared to $33.9 million or 9.2% of net sales in the prior year[102]. - Net income for the third quarter of fiscal year 2023 was $16.4 million, a 20% increase from $13.6 million in the same quarter of fiscal year 2022[102]. - The automotive market experienced a 34% increase in sales to $216.0 million in the third quarter of fiscal year 2023, and a 40% increase to $600.5 million year-to-date compared to the prior year[102]. - Sales to customers in the medical market increased by 30% in the third quarter of fiscal year 2023 compared to the same quarter in fiscal year 2022, and by 34% year-to-date[109]. Expenses and Cost Management - Selling and administrative expenses increased by 30% to $17.8 million in the third quarter of fiscal year 2023 compared to $13.6 million in the same quarter of fiscal year 2022[102]. - Selling and administrative expenses increased in absolute dollars in the third quarter of fiscal year 2023, driven by higher liability fair value for the supplemental employee retirement plan, increased factoring fees, and wage inflation[106]. - The company is focused on cost control while managing growth prospects and has made investments to expand capabilities in Mexico and Thailand[98]. Balance Sheet and Liquidity - The company maintained a strong balance sheet with a current ratio of 1.9 and a debt-to-equity ratio of 0.6 as of March 31, 2023[99]. - Working capital at March 31, 2023 was $441.8 million, up from $352.3 million at June 30, 2022, with a current ratio of 1.9[113]. - The debt-to-equity ratio increased to 0.6 at March 31, 2023, compared to 0.4 at June 30, 2022[113]. - The company had $279.0 million in borrowings under the primary credit facility as of March 31, 2023, an increase from $171.4 million at June 30, 2022[126]. - The company maintained unused borrowings totaling $98.1 million under all credit facilities as of March 31, 2023, including a $50 million secondary credit facility expiring in February 2024[134]. Cash Flow and Investments - Net cash used for operating activities was $(57.9) million for the first nine months of fiscal year 2023, an improvement from $(84.7) million in the prior year[117]. - Net cash used for investing activities was $66.5 million in the first nine months of fiscal year 2023, primarily for expansions in Mexico, Thailand, and Poland[121]. - Capital expenditure commitments were approximately $16 million as of March 31, 2023, primarily for equipment related to facility expansions in Mexico and Thailand, and commitments for the Poland facility[136]. Market Outlook and Challenges - The EMS industry is projected to grow at a compound annual growth rate (CAGR) of 5.5% through 2026, indicating a positive market outlook[93]. - The company faced challenges with component shortages and shipping delays, particularly with semiconductors, impacting operational efficiency[95]. - Open orders decreased by 5% to $882 million as of March 31, 2023, driven by improved component availability[103]. Future Plans and Commitments - The company expects to complete its Poland facility expansion in early fiscal year 2024, following recent expansions in Thailand and Mexico[135]. - The company has a financial covenant requiring the ratio of consolidated total indebtedness to adjusted consolidated EBITDA to not exceed 3.0 to 1.0, increasing to 3.5 to 1.0 following a material permitted acquisition[130]. - The company anticipates that available funds, cash generated from operations, and borrowing capacity will be sufficient to meet working capital needs for at least the next 12 months[134]. Foreign Operations - As of March 31, 2023, foreign entities held cash totaling $30.1 million, with plans to permanently reinvest these funds outside the United States[138]. - The company has entered into various foreign credit facilities, including a $10.1 million overdraft facility in Thailand and a $7.5 million facility for its EMS operation in China, with no borrowings under these facilities as of March 31, 2023[137].

Financial Performance - The company reported record quarterly net sales of $436.7 million for the second quarter of fiscal year 2023, a 39% increase from $315.3 million in the same quarter of the prior year[95]. - The company experienced a 39% increase in net sales for the six months ended December 31, 2022, totaling $842.6 million compared to $608.0 million in the same period of the previous year[100]. - Sales in the automotive market reached $200.0 million in the second quarter, up 44% from $139.0 million in the same quarter of fiscal year 2022, driven by program ramp-ups and new product launches[100]. - Sales to customers in the medical market had a double-digit increase in both the second quarter and year-to-date period of fiscal year 2023 compared to the prior fiscal year[104]. - Sales to customers in the industrial market increased by 27% in the second quarter of fiscal year 2023 compared to the same period in fiscal year 2022[104]. - The impact of foreign currency fluctuations was an unfavorable 5% on net sales in the current quarter compared to the same period of fiscal year 2022[100]. Profitability and Margins - The gross profit margin improved to 7.8% in the second quarter of fiscal year 2023, compared to 6.6% in the same quarter of the previous year, reflecting a 64% increase in gross profit[100]. - Gross profit as a percentage of net sales improved in the second quarter and first half of fiscal year 2023 compared to the same periods in fiscal year 2022[102]. - Selling and administrative expenses increased in absolute dollars but declined as a percentage of net sales in the second quarter and first half of fiscal year 2023 compared to the same periods in fiscal year 2022[103]. Balance Sheet and Liquidity - The company maintained a strong balance sheet with a current ratio of 2.0 and a debt-to-equity ratio of 0.6, with shareholders' equity at $481 million as of December 31, 2022[97]. - The current ratio improved to 2.0 at December 31, 2022, up from 1.9 at June 30, 2022[108]. - Open orders increased by 35% to $1,037 million compared to $771 million in the prior year, indicating strong demand and a growing backlog[100]. - Open orders increased by 35% as of December 31, 2022 compared to December 31, 2021, but decreased by 13% compared to June 30, 2022[101]. Operational Challenges - The company faced challenges due to component shortages and shipping delays, particularly with semiconductors, which could impact future operations and costs[93]. - The company has implemented cost control measures while managing growth prospects, including capacity expansions in Mexico and Thailand[96]. Capital Expenditures and Borrowings - Borrowings on credit facilities increased by $93.0 million primarily for working capital and capital expenditures supporting expansions[107]. - The company had $264.3 million in borrowings under the primary credit facility at December 31, 2022, compared to $171.4 million at June 30, 2022[121]. - The company sold $225.1 million of accounts receivable without recourse in the six months ended December 31, 2022, compared to $125.3 million in the same period of 2021[125]. - Capital expenditure commitments as of December 31, 2022, were approximately $23 million, primarily for facility expansions in Poland, Mexico, and Thailand[129]. - A new 364-day multi-currency revolving credit facility was entered into on February 3, 2023, allowing for borrowings up to $50 million to support equipment and working capital needs[126]. Future Outlook - The EMS industry is projected to grow at a compound annual growth rate (CAGR) of 5.5% through 2026, indicating a favorable market outlook for the company[91]. - The company expects to complete its Poland facility expansion in early fiscal year 2024, following recent expansions in Thailand and Mexico[128]. Shareholder Returns - The company has a Board-authorized stock repurchase plan allowing for the repurchase of up to $100 million of common stock, with $88.8 million repurchased through December 31, 2022[132].

Quarter Ended December 31, 2022 Second Quarter Fiscal 2023 Results Supplementary Information to the February 7, 2023, Earnings Conference Call & Webcast Kimball Electronics (Nasdaq: KE) Safe Harbor Statement This supplementary information contains non-GAAP financial measures. The non-GAAP financial measures contained herein include Constant Currency Growth, Adjusted Selling & Administrative Expenses, Adjusted Operating Income, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Return on Invested ...

Kimball Electronics, Inc. (NASDAQ:KE) Q1 2023 Results Conference Call November 8, 2022 10:00 AM ET Company Participants Andrew Regrut - VP, IR Donald Charron - Chairman & CEO Jana Croom - CFO Conference Call Participants Max Michaels - Lake Street Capital Markets Anja Soderstrom - Sidoti Hendi Susanto - Gabelli Funds Operator Good morning, ladies and gentlemen, and welcome to the Kimball Electronics First Quarter Fiscal 2023 Earnings Conference Call. My name is [Darius La] (ph) and I'll be the facilitator f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36454 KIMBALL ELECTRONICS, INC. (Exact name of registrant as specified in its charter) incorporation or organization) Indian ...

@ " " G (3 (0 D (@ 鲁 Kimball Electronics Midwest IDEAS Conference (18) Electronics 1 Safe Harbor Statement Certain statements contained within this presentation may be considered forward-looking under the Private Securities Litigation Reform Act of 1995. The statements may be identified by the use of words such as "expect," "should," "goal," "predict," "will," "future," "optimistic," "confident," and "believe." These forward-looking statements are subject to risks and uncertainties including, without limita ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36454 KIMBALL ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of ...

Kimball Electronics, Inc. (NASDAQ:KE) Q4 2022 Earnings Conference Call August 5, 2022 10:00 AM ET Company Participants Andy Regrut - VP, IR Don Charron - Chairman & CEO Jana Croom - CFO Conference Call Participants Anja Soderstrom - Sidoti Jaeson Schmidt - Lake Street Capital Markets Robert K. Shapiro - Singular Research Hendi Susanto - Gabelli Funds Operator Good morning. And ladies and gentlemen, and welcome to the Kimball Electronics Fourth Quarter Fiscal 2022 Earnings Conference Call. My name is Darius, ...

Fourth Quarter and Full Year Fiscal 2022 Results Quarter Ended June 30, 2022 Supplementary Information to the August 5, 2022, Earnings Conference Call & Webcast Kimball Electronics (Nasdaq: KE) Safe Harbor Statement Certain statements contained within this supplementary information, including our fiscal year 2023 guidance, and any statements made during our earnings conference call today may be considered forward-looking under the Private Securities Litigation Reform Act of 1995. The statements may be ident ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR Indiana 35-2047713 (State or other jurisdiction of (I.R.S. Employer Identification No.) 1205 Kimball Boulevard, Jasper, Indiana 47546 (Address of principal executive offices) (Zip Code) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...