Kimball Electronics Reports Q1 Results and Confirms Guidance for Fiscal Year 2025, Company Continues to Sharpen Its Strategic Focus With Closure of Its Manufacturing Facility in Tampa, FL

Business Wire11-05 06:22

Kimball Electronics Reports Q1'25 Financial Results and Confirms Guidance for Fiscal Year 2025 First Quarter Fiscal 2025 Highlights Net sales totaled $374.3 million Operating income of $9.1 ...

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kimball Electronics Reports Q1 Results and Confirms Guidance for Fiscal Year 2025, Company Continues to Sharpen Its Strategic Focus With Closure of Its Manufacturing Facility in Tampa, FL</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKimball Electronics Reports Q1 Results and Confirms Guidance for Fiscal Year 2025, Company Continues to Sharpen Its Strategic Focus With Closure of Its Manufacturing Facility in Tampa, FL\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-05 06:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/kimball-electronics-reports-q1-results-222200520.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Kimball Electronics Reports Q1'25 Financial Results and Confirms Guidance for Fiscal Year 2025\n \n\n\n\n\n\nFirst Quarter Fiscal 2025 Highlights\n\nNet sales totaled $374.3 million\nOperating income of $9.1 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kimball-electronics-reports-q1-results-222200520.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FL","symbol_name":"富乐客","start_time":0,"source_url":"https://finance.yahoo.com/news/kimball-electronics-reports-q1-results-222200520.html","article_id":"2481757565","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/FsyRaaadYsKyIorz66g0Qw--~B/aD00ODA7dz0zNzE7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/e5535611770461200a34d2d8f6dfaf08"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481757565","pubTimestamp":1730758920,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Operating income of $9.1 million, or 2.4% of net sales, adjusted operating income of 3.4%. Cash generated by operating activities of $45.5 million, borrowings on credit facilities reduced to 2-year low. Company continues to sharpen its strategic focus by completing the divestiture of the Automation, Test, and Measurement business and announcing the closure of its manufacturing facility in Tampa, FL. JASPER, Ind., November 04, 2024----Kimball Electronics, Inc.  today announced financial results for the first quarter ended September 30, 2024.Mr. Phillips continued, \"As part of sharpening our strategic focus, we’re also announcing a plan to leverage the capacity in our global footprint and further streamline the operating structure. Production activities on existing customer programs will be transferred out of Tampa, with the majority of the work going to the newly expanded facility in Mexico and Jasper. Operations in Tampa are expected to cease by the end of the fiscal year, and we antic","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FL":"富乐客","BK4585":"ETF&股票定投概念","BK4145":"电子制造服务","BK4588":"碎股","CCD":"Calamos Dynamic Convertible and Income Fund","KE":"Kimball Electronics, Inc.","BK4094":"服装零售"},"translate_title":"Kimball Electronics报告第一季度业绩并确认2025财年指引，公司关闭位于佛罗里达州坦帕的制造工厂，继续加强战略重点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCD":1,"FL":1,"KE":1},"content_text":"Kimball Electronics Reports Q1'25 Financial Results and Confirms Guidance for Fiscal Year 2025\n \n\n\n\n\n\nFirst Quarter Fiscal 2025 Highlights\n\nNet sales totaled $374.3 million\nOperating income of $9.1 million, or 2.4% of net sales, adjusted operating income of 3.4%\nCash generated by operating activities of $45.5 million, borrowings on credit facilities reduced to 2-year low\nCompany continues to sharpen its strategic focus by completing the divestiture of the Automation, Test, and Measurement business and announcing the closure of its manufacturing facility in Tampa, FL\n\nJASPER, Ind., November 04, 2024--(BUSINESS WIRE)--Kimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the first quarter ended September 30, 2024.\n\n\n\n\nThree Months Ended\n\n\n\nSeptember 30,\n\n\n(Amounts in Thousands, except EPS)\n\n2024\n\n\n\n2023\n\n\n\nNet Sales\n$\n374,256\n\n\n$\n438,081\n\n\n\nOperating Income\n$\n9,115\n\n\n$\n19,490\n\n\n\nAdjusted Operating Income (non-GAAP) (1)\n$\n12,590\n\n\n$\n21,006\n\n\n\nOperating Income %\n\n2.4\n%\n\n\n4.4\n%\n\n\nAdjusted Operating Income (non-GAAP) %\n\n3.4\n%\n\n\n4.8\n%\n\n\nNet Income\n$\n3,154\n\n\n$\n10,754\n\n\n\nAdjusted Net Income (non-GAAP) (1)\n$\n5,527\n\n\n$\n12,038\n\n\n\nDiluted EPS\n$\n0.12\n\n\n$\n0.43\n\n\n\nAdjusted Diluted EPS (non-GAAP) (1)\n$\n0.22\n\n\n$\n0.48\n\n\n\n\n\n\n\n(1)\n\nBeginning in the first quarter of fiscal year 2025, adjusted results exclude stock compensation expense. Prior reported periods have been revised accordingly. A reconciliation of GAAP and non-GAAP financial measures is included below.\n\n\n\nCommenting on today’s announcement, Richard D. Phillips, Chief Executive Officer, stated, \"Q1 represents another chapter of ‘controlling what we can control’ while navigating the challenging operating environment stemming from sustained end market weakness. Our results for the quarter were in line with expectations, considering the difficult comparisons from a record-setting Q1 last year. We continue to adjust costs, improve working capital management, and generate positive cash flow used to pay down debt. We made meaningful progress in the quarter with debt levels at a 2-year low, a result of the cash generated from operating activities and the proceeds from the disposition of the Automation, Test, and Measurement business, with its divestiture closing in July.\"\nMr. Phillips continued, \"As part of sharpening our strategic focus, we’re also announcing a plan to leverage the capacity in our global footprint and further streamline the operating structure. Production activities on existing customer programs will be transferred out of Tampa, with the majority of the work going to the newly expanded facility in Mexico and Jasper. Operations in Tampa are expected to cease by the end of the fiscal year, and we anticipate the facility closing in Q1 of fiscal 2026. We are grateful to the employees in Tampa and their accomplishments while part of Kimball, including supplying ventilators to those in need during the pandemic. This decision is based on the preferences of our customers, our outlook for US manufacturing, and an objective to improve the Company’s competitive positioning in the market, strengthen the balance sheet, increase liquidity, and improve financial flexibility. We are confirming our guidance for the full fiscal year and look forward to the future.\"\nThe Company ended the first quarter of fiscal 2025 with cash and cash equivalents of $76.6 million and borrowings outstanding on credit facilities of $245.9 million, including $200.0 million classified as long term. As of September 30, 2024, the Company had $186.8 million of borrowing capacity available. Cash generated from operating activities in the first quarter totaled $45.5 million and capital expenditures were $13.5 million, and the Company invested $2.9 million to repurchase 160,000 shares of common stock.\nNet Sales by Vertical Market for Q1 Fiscal 2025:\n\n\n\n\nThree Months Ended\n\n\n\n\n\nSeptember 30,\n\n\n\n\n(Amounts in Millions)\n2024\n\n*\n\n2023\n\n*\n\nPercent Change\n\n\nAutomotive\n$\n188.4\n\n50%\n\n$\n212.5\n\n49%\n\n(11)%\n\n\nMedical\n\n89.8\n\n24%\n\n\n102.4\n\n23%\n\n(12)%\n\n\nIndustrial excluding AT&M (1)\n\n94.0\n\n25%\n\n\n112.9\n\n26%\n\n(17)%\n\n\nNet Sales excluding AT&M (1)\n$\n372.2\n\n99%\n\n$\n427.8\n\n98%\n\n(13)%\n\n\nAT&M (1)\n\n2.1\n\n1%\n\n\n10.3\n\n2%\n\n(80)%\n\n\nTotal Net Sales\n$\n374.3\n\n\n\n$\n438.1\n\n\n\n(15)%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n* As a percent of Total Net Sales\n\n\n\n\n(1) Sales from our Automation, Test, and Measurement business (AT&M), which was divested effective July 31, 2024, were previously included in the Industrial vertical\n\n\n– Automotive includes electronic power steering, body controls, automated driver assist systems, and electronic braking systems\n\n\n– Medical includes sleep therapy and respiratory care, image guided therapy, in vitro diagnostics, drug delivery, AED, and patient monitoring\n\n\n– Industrial includes climate controls, automation controls, and public safety\n\n\n\nCompany guidance for fiscal year 2025:\n\nNet sales in the range of $1.440 - $1.540 billion, an 8% to 14% decline year-over-year when excluding net sales from Automation, Test, and Measurement\nAdjusted operating income of 4.0% - 4.5% of net sales(a)\nCapital expenditures of $40 - $50 million\n\n\n\n\n(a)\n\nFiscal year 2025 guidance reflects a change in our adjusted operating income calculation beginning in fiscal year 2025, which excludes stock compensation expense. This change better aligns our presentation with others in our industry. A reconciliation of GAAP and non-GAAP financial measures is included below.\n\n\n\nForward-Looking Statements\nCertain statements contained within this release are considered forward-looking, including our guidance, 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.\" Undue reliance should not be placed on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. These forward-looking statements are subject to risks and uncertainties including, without limitation, global economic conditions, geopolitical environment and conflicts such as the war in Ukraine, global health emergencies, availability or cost of raw materials and components, foreign exchange rate fluctuations, and our ability to convert new business opportunities into customers and revenue. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the company are contained in its Annual Report on Form 10-K for the year ended June 30, 2024.\nNon-GAAP Financial Measures\nThis press release contains non-GAAP financial measures. The non-GAAP financial measures contained herein include constant currency growth, net sales excluding Automation, Test & Measurement, adjusted selling and administrative expenses, adjusted operating income, adjusted net income, adjusted diluted EPS, and ROIC. Reconciliations of the reported GAAP numbers to these non-GAAP financial measures are included in the Reconciliation of Non-GAAP Financial Measures section below. Management believes these measures are useful and allow investors to meaningfully trend, analyze, and benchmark the performance of the company’s core operations. The company’s non-GAAP financial measures are not necessarily comparable to non-GAAP information used by other companies.\nAbout Kimball Electronics, Inc.\nKimball Electronics is a global, multifaceted manufacturing solutions provider of electronics and diversified contract manufacturing services to customers around the world. From our operations in the United States, China, Mexico, Poland, Romania, and Thailand, our teams are proud to provide manufacturing services for a variety of industries. Recognized for a reputation of excellence, we are committed to a high-performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball Electronics, Inc. (Nasdaq: KE) is headquartered in Jasper, Indiana.\nTo learn more about Kimball Electronics, visit www.kimballelectronics.com.\n\n\n\nConference Call / Webcast\n\n\n\n\n\n\n\nDate:\n\nNovember 5, 2024\n\n\nTime:\n\n10:00 AM Eastern Time\n\n\nLive Webcast:\n\ninvestors.kimballelectronics.com/events-and-presentations/events\n\n\nDial-In #:\n\n877-407-8293 (or 201-689-8349)\n\n\n\nFor those unable to participate in the live webcast, the call will be archived at investors.kimballelectronics.com.\nLasting relationships. Global success.\nFinancial highlights for the first quarter ended September 30, 2024 are as follows:\n\n\n\nCondensed Consolidated Statements of Income\n\n\n(Unaudited)\nThree Months Ended\n\n\n(Amounts in Thousands, except Per Share Data)\nSeptember 30, 2024\n\nSeptember 30, 2023\n\n\nNet Sales\n$\n374,256\n\n\n100.0\n%\n\n$\n438,081\n\n\n100.0\n%\n\n\nCost of Sales\n\n350,656\n\n\n93.7\n%\n\n\n402,539\n\n\n91.9\n%\n\n\nGross Profit\n\n23,600\n\n\n6.3\n%\n\n\n35,542\n\n\n8.1\n%\n\n\nSelling and Administrative Expenses\n\n13,427\n\n\n3.6\n%\n\n\n16,052\n\n\n3.7\n%\n\n\nRestructuring Expense\n\n2,322\n\n\n0.6\n%\n\n\n—\n\n\n—\n%\n\n\nGain on Disposal\n\n(1,264\n)\n\n(0.3\n)%\n\n\n—\n\n\n—\n%\n\n\nOperating Income\n\n9,115\n\n\n2.4\n%\n\n\n19,490\n\n\n4.4\n%\n\n\nInterest Income\n\n222\n\n\n0.1\n%\n\n\n299\n\n\n0.1\n%\n\n\nInterest Expense\n\n(4,792\n)\n\n(1.3\n)%\n\n\n(5,447\n)\n\n(1.2\n)%\n\n\nNon-Operating Income (Expense), net\n\n(1,661\n)\n\n(0.4\n)%\n\n\n(1,131\n)\n\n(0.3\n)%\n\n\nOther Income (Expense), net\n\n(6,231\n)\n\n(1.6\n)%\n\n\n(6,279\n)\n\n(1.4\n)%\n\n\nIncome Before Taxes on Income\n\n2,884\n\n\n0.8\n%\n\n\n13,211\n\n\n3.0\n%\n\n\nProvision for Income Taxes\n\n(270\n)\n\n—\n%\n\n\n2,457\n\n\n0.5\n%\n\n\nNet Income\n$\n3,154\n\n\n0.8\n%\n\n$\n10,754\n\n\n2.5\n%\n\n\n\n\n\n\n\n\n\n\n\n\nEarnings Per Share of Common Stock:\n\n\n\n\n\n\n\n\n\nBasic\n$\n0.13\n\n\n\n\n$\n0.43\n\n\n\n\n\nDiluted\n$\n0.12\n\n\n\n\n$\n0.43\n\n\n\n\n\nAverage Number of Shares Outstanding:\n\n\n\n\n\n\n\n\n\nBasic\n\n24,979\n\n\n\n\n\n25,041\n\n\n\n\n\nDiluted\n\n25,235\n\n\n\n\n\n25,238\n\n\n\n\n\n\n\n\n\nCondensed Consolidated Statements of Cash Flows\nThree Months Ended\n\n\n(Unaudited)\nSeptember 30,\n\n\n(Amounts in Thousands)\n\n2024\n\n\n\n2023\n\n\n\nNet Cash Flow provided by Operating Activities\n$\n45,474\n\n\n$\n12,801\n\n\n\nNet Cash Flow provided by (used for) Investing Activities\n\n5,226\n\n\n\n(11,302\n)\n\n\nNet Cash Flow (used for) provided by Financing Activities\n\n(52,954\n)\n\n\n13,985\n\n\n\nEffect of Exchange Rate Change on Cash, Cash Equivalents, and Restricted Cash\n\n1,830\n\n\n\n(549\n)\n\n\nNet (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash\n\n(424\n)\n\n\n14,935\n\n\n\nCash, Cash Equivalents, and Restricted Cash at Beginning of Period\n\n78,779\n\n\n\n43,864\n\n\n\nCash, Cash Equivalents, and Restricted Cash at End of Period\n$\n78,355\n\n\n$\n58,799\n\n\n\n\n\n\n\n\n(Unaudited)\n\n\n\n\nCondensed Consolidated Balance Sheets\nSeptember 30, 2024\n\nJune 30, 2024\n\n\n(Amounts in Thousands)\n\n\nASSETS\n\n\n\n\n\nCash and cash equivalents\n$\n76,564\n\n\n$\n77,965\n\n\n\nReceivables, net\n\n264,036\n\n\n\n282,336\n\n\n\nContract assets\n\n74,326\n\n\n\n76,320\n\n\n\nInventories\n\n335,272\n\n\n\n338,116\n\n\n\nPrepaid expenses and other current assets\n\n32,496\n\n\n\n44,682\n\n\n\nAssets held for sale\n\n—\n\n\n\n27,587\n\n\n\nProperty and Equipment, net\n\n275,674\n\n\n\n269,659\n\n\n\nGoodwill\n\n6,191\n\n\n\n6,191\n\n\n\nOther Intangible Assets, net\n\n2,880\n\n\n\n2,994\n\n\n\nOther Assets, net\n\n81,617\n\n\n\n82,069\n\n\n\nTotal Assets\n$\n1,149,056\n\n\n$\n1,207,919\n\n\n\n\n\n\n\n\n\nLIABILITIES AND SHARE OWNERS’ EQUITY\n\n\n\n\n\nCurrent portion of borrowings under credit facilities\n$\n45,915\n\n\n$\n59,837\n\n\n\nAccounts payable\n\n216,704\n\n\n\n213,551\n\n\n\nAdvances from customers\n\n35,616\n\n\n\n30,151\n\n\n\nAccrued expenses\n\n45,492\n\n\n\n63,189\n\n\n\nLiabilities held for sale\n\n—\n\n\n\n8,594\n\n\n\nLong-term debt under credit facilities, less current portion\n\n200,000\n\n\n\n235,000\n\n\n\nLong-term income taxes payable\n\n—\n\n\n\n3,255\n\n\n\nOther long-term liabilities\n\n57,571\n\n\n\n53,881\n\n\n\nShare Owners’ Equity\n\n547,758\n\n\n\n540,461\n\n\n\nTotal Liabilities and Share Owners’ Equity\n$\n1,149,056\n\n\n$\n1,207,919\n\n\n\n\n\n\n\nOther Financial Metrics\n\n\n(Unaudited)\n\n\n(Amounts in Millions, except CCD)\n\n\n\nAt or For the\n\n\n\nThree Months Ended\n\n\n\nSeptember 30,\n\nJune 30,\n\nSeptember 30,\n\n\n\n2024\n\n2024\n\n2023\n\n\nDepreciation and Amortization\n$\n9.2\n\n\n$\n9.5\n\n\n$\n9.0\n\n\n\nCash Conversion Days (CCD) (1)\n\n108\n\n\n\n100\n\n\n\n103\n\n\n\nOpen Orders (2)\n$\n594\n\n\n$\n714\n\n\n$\n907\n\n\n\n\n\n\n\n(1)\n\nCash Conversion Days (\"CCD\") are calculated as the sum of Days Sales Outstanding plus Contract Asset Days plus Production Days Supply on Hand less Accounts Payable Days and less Advances from Customers Days. CCD, or a similar metric, is used in our industry and by our management to measure the efficiency of managing working capital.\n\n\n(2)\n\nOpen Orders are the aggregate sales price of production pursuant to unfulfilled customer orders. Our declining open orders are primarily due to the cancellation of a major automotive program and other demand reductions, as well as reduced lead times on customer orders as compared to September 30, 2023, when parts were more constrained.\n\n\n\n\n\n\nSelect Financial Results of Automation, Test and Measurement\n\n\n(Unaudited)\n\n\n(Amounts in Millions)\n\n\n\nThree Months Ended\n\n\n\nSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet Sales\n$\n2.1\n\n\n$\n10.3\n\n\n\nOperating Income (Loss) (1)\n$\n0.8\n\n\n$\n(0.2\n)\n\n\n\n\n\n\n(1)\n\nIncludes gain on sale of $1.3 million following the close of the sale on July 31, 2024 for the three months ended September 30, 2024. Each period also includes allocated corporate overhead expenses.\n\n\n\n\n\n\nReconciliation of Non-GAAP Financial Measures\n\n\n\n\n\n(Unaudited, Amounts in Thousands, except Per Share Data)\n\n\n\n\n\n\nThree Months Ended\n\n\n\nSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet Sales Growth (vs. same period in prior year)\n\n(15\n)%\n\n\n8\n%\n\n\nForeign Currency Exchange Impact\n\n—\n%\n\n\n1\n%\n\n\nConstant Currency Growth\n\n(15\n)%\n\n\n7\n%\n\n\n\n\n\n\n\n\nSelling and Administrative Expenses, as reported\n$\n13,427\n\n\n$\n16,052\n\n\n\nStock Compensation Expense\n\n(2,072\n)\n\n\n(1,693\n)\n\n\nSERP\n\n(345\n)\n\n\n177\n\n\n\nAdjusted Selling and Administrative Expenses\n$\n11,010\n\n\n$\n14,536\n\n\n\n\n\n\n\n\n\nOperating Income (Loss), as reported\n$\n9,115\n\n\n$\n19,490\n\n\n\nStock Compensation Expense\n\n2,072\n\n\n\n1,693\n\n\n\nSERP\n\n345\n\n\n\n(177\n)\n\n\nRestructuring Expense\n\n2,322\n\n\n\n—\n\n\n\nGain on Disposal\n\n(1,264\n)\n\n\n—\n\n\n\nAdjusted Operating Income\n$\n12,590\n\n\n$\n21,006\n\n\n\n\n\n\n\n\n\nNet Income (Loss), as reported\n$\n3,154\n\n\n$\n10,754\n\n\n\nStock Compensation Expense, After-Tax\n\n1,571\n\n\n\n1,284\n\n\n\nRestructuring Expense, After-Tax\n\n1,761\n\n\n\n—\n\n\n\nGain on Disposal, After-Tax\n\n(959\n)\n\n\n—\n\n\n\nAdjusted Net Income\n$\n5,527\n\n\n$\n12,038\n\n\n\n\n\n\n\n\n\nDiluted Earnings per Share, as reported\n$\n0.12\n\n\n$\n0.43\n\n\n\nStock Compensation Expense\n\n0.06\n\n\n\n0.05\n\n\n\nRestructuring Expense\n\n0.07\n\n\n\n—\n\n\n\nGain on Disposal\n\n(0.03\n)\n\n\n—\n\n\n\nAdjusted Diluted Earnings per Share\n$\n0.22\n\n\n$\n0.48\n\n\n\n\n\n\n\n\n\n\nTwelve Months Ended\n\n\n\nSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nOperating Income\n$\n38,902\n\n\n$\n93,648\n\n\n\nGoodwill Impairment\n\n5,820\n\n\n\n—\n\n\n\nStock Compensation Expense\n\n7,564\n\n\n\n6,975\n\n\n\nSERP\n\n1,202\n\n\n\n759\n\n\n\nLegal Recovery\n\n(892\n)\n\n\n(212\n)\n\n\nRestructuring Expense\n\n4,708\n\n\n\n—\n\n\n\nAsset Impairment and Gain on Disposal\n\n15,776\n\n\n\n—\n\n\n\nAdjusted Operating Income (non-GAAP)\n$\n73,080\n\n\n$\n101,170\n\n\n\nTax Effect\n\n16,285\n\n\n\n24,625\n\n\n\nAfter-tax Adjusted Operating Income\n$\n56,795\n\n\n$\n76,545\n\n\n\nAverage Invested Capital (1)\n$\n773,016\n\n\n$\n738,096\n\n\n\nROIC\n\n7.3\n%\n\n\n10.4\n%\n\n\n\n\n\n\n(1)\n\nAverage invested capital is computed using Share Owners’ equity plus current and non-current debt less cash and cash equivalents averaged for the last five quarters.\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241104047813/en/\nContacts\nAndrew D. RegrutTreasurer and Investor Relations Officer812.827.4151Investor.Relations@kimballelectronics.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481757565"}