Jasper based Kimball Electronics recently wrapped up their fiscal year with $1 billion dollars in annual sales as the company announced its financial results for its fourth quarter and fiscal year ending June 30th
The company ended fiscal year 2018 with $1,072,061,000 in net sales. It reports a net income of $16,752,000 from the same period.
The company also noted that its fourth quarter sales were $277 million, up 15% from the prior year’s fourth quarter. Operating income improved to 4.1% from 3.5% in 2017 and the company reported that strong cash flow provided by operations ended at $19.3 million for the quarter.
Kimball Electronics Chairman and CEO Don Charron says very strong growth in the company’s automotive and medical end market verticals helped them achieve double-digit year-over-year growth for the fourth consecutive quarter and exceed their long-time stated goal of $1 billion in annual sales in fiscal year 2018.
The company also returned $3.1 million to its shareholders in stock repurchases during the quarter.