Jasper based Kimball International recently announced fourth quarter fiscal year 2016 net sales of $164.7 million and income from continuing operations of $6.3 million.
Earnings per diluted share for the fourth quarter was 17 cents, an increase of 42% over the prior year fourth quarter.
Adjusted earnings per diluted share, which excludes charges related to a previously announced restructuring plan, was up 27%.
In a release Kimball Chairman and CEO, Bob Schneider, says he’s very pleased with the progress the company made in their fourth quarter and in fiscal year 2016 as they continue on their journey toward their guidance of achieving 8 to 9 percent operating income and quarterly earnings per diluted share of 23 to 27 cents.
Schneider says at this level of performance, the company’s return on capital will be among the best in the industry.
he says along with a strong push for new and innovative products, a big part of the company’s journey was the shutdown and move of their Idaho operation to their Indiana facilities in the last 18 months.
Schneider says the physical move is now done, and Kimball’s Indiana employees are producing metal fabricated furniture for the first time.