Kimball Reports a Dip in Profits

Kimball International is headquartered in Jasper. (IIB Photo/Wes Mills)

Jasper-based Kimball International Inc. (Nasdaq: KBAL) is reporting fiscal full-year net income of $7.4 million, down from $41 million the previous year. The furniture maker also saw a drop in fourth quarter profits with net income of $7.4 million, compared to $9.1 million during the same period a year ago.

Chief Executive Officer Kristie Juster says the rate of business activity “improved considerably in the fourth quarter,” which she says enables the company to end FY 2021 with a clear path forward to future growth.

“Year-over-year revenue growth in our Workplace and Health markets, which accounted for over 80% of total fourth quarter revenues, and robust growth of 33% in orders from those markets are strong indications of the post-pandemic recovery that is underway in our business. In fact, our revenues and orders increased progressively throughout the fourth quarter, reflecting positive momentum that has continued into July,” said Juster.

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