Kimball International Profit Ticks Up
Jasper-based Kimball International Inc. (Nasdaq: KBAL) is reporting fiscal first quarter net income of $11.4 million, up from $10.9 million during the same period last year. Chief Executive Officer Kristie Juster says the results give the company confidence in its ability to "transform to a more efficient model."
The company, which manufactures furniture for a variety of markets, launched a transformation plan in June, which it said would "establish a more cost-efficient structure to better align operations with long-term strategic goals."
"Our revenue performance was mixed in the first quarter with industry leading metrics in healthcare and hospitality offset by the Kimball brand realignment strategy as well as comping double digit year over year performance," Juster said in a news release. "As we start our transformation journey, we are focused on gating our growth investments as we gain confidence in our cost savings projects. We are confident that fiscal year 2020 will position us well to deliver our long-term plan."
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