Jasper-based Kimball Electronics Inc. (Nasdaq: KE) is reporting record fiscal third quarter net income of $11.8 million, up from $10.8 million during the same period last year. The company also set quarterly records for net sales and operating income over the three-month span.
Chief Executive Officer Donald Charron says the results were largely driven by strong, double-digit growth in the company’s medical and industrial end market verticals. He adds new program launches and ramp-ups helped offset "continued softness" in other programs, which was caused by global macro-economic conditions and trade uncertainties.
Charron says the company is continuing the integration of California-based GES Holdings Inc., which it acquired in October. He says Kimball has good momentum and he is optimistic that the company can begin to consistently achieve its goals of 8 percent organic growth and 4.5 percent operating income.
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