-
- News
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueRules of Thumb
This month, we delve into rules of thumb—which ones work, which ones should be avoided. Rules of thumb are everywhere, but there may be hundreds of rules of thumb for PCB design. How do we separate the wheat from the chaff, so to speak?
Partial HDI
Our expert contributors provide a complete, detailed view of partial HDI this month. Most experienced PCB designers can start using this approach right away, but you need to know these tips, tricks and techniques first.
Silicon to Systems: From Soup to Nuts
This month, we asked our expert contributors to weigh in on silicon to systems—what it means to PCB designers and design engineers, EDA companies, and the rest of the PCB supply chain... from soup to nuts.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - design007 Magazine
Kimball Electronics Reports Q4 Results; Company Provides Guidance for Fiscal 2025
August 14, 2024 | BUSINESS WIREEstimated reading time: 2 minutes
Kimball Electronics, Inc. announced financial results for the fourth quarter and fiscal year ended June 30, 2024.
Commenting on today’s announcement, Richard D. Phillips, Chief Executive Officer, stated, “Q4 was another quarter focused on ‘controlling what we can control’. The operating environment for the EMS industry remains challenged and many contract manufacturing organizations, Kimball included, have adjusted expectations on continued weakness in end market demand. In the verticals we serve, the pull back has been more significant than originally anticipated, and we continue to appropriately adjust our cost structure to maintain competitiveness with stable operating margins, improve working capital management with lower inventory levels, and generate positive cash flow.”
Mr. Phillips continued, “Earlier this month, we announced the completion of the divestiture of the Automation, Test and Measurement business. Closure on the sale represents a significant milestone for our Company, and another important step toward sharpening our strategic focus and returning to profitable growth and stronger performance. Proceeds from the sale, combined with actions taken to navigate the current environment, have strengthened our balance sheet with increased liquidity and financial flexibility. In addition, recent new program wins, which will start to impact fiscal 2026, make us excited for the future.”
The Company ended the fourth quarter of fiscal 2024 with cash and cash equivalents of $78.0 million and borrowings outstanding on credit facilities of $294.8 million, including $235.0 million classified as long term, and $142.1 million of borrowing capacity available. Capital expenditures were $9.1 million in the fourth quarter, and the Company invested $3 million to repurchase 136,000 shares of common stock.
Fiscal Year 2024 Highlights:
- Net sales totaled $1,714.5 million, the second highest year in the history of the Company
- Adjusted operating income of $74.3 million, or 4.3% of net sales
- Inventory reductions of $112 million, or 25%, year-over-year
- Cash flow generated from operating activities of $73 million
Jana T. Croom, Chief Financial Officer, commented, “Fiscal 2024 was hard fought with a challenging operating environment combined with divesting the AT&M business, which was not a small undertaking for our Company. I would like to thank the entire Kimball team for their efforts involved in closing the transaction and ensuring a smooth transition. Looking to fiscal 2025, we expect macro headwinds to persist. We will balance these pressures with cost controls, a capital allocation strategy focused on longer-term growth, lasting customer relationships, and opportunistic share repurchases.”
Fiscal Year 2025 Guidance
- Net 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. (a)
- Adjusted operating income of 4.0% - 4.5% of net sales. (b)
- Capital expenditures of $40 - $50 million.
Suggested Items
Nano Dimension Posts Revenue of Revenue $14.9M in Q3 2024; Up 22% YoY
11/20/2024 | Nano DimensionNano Dimension Ltd., a leading supplier of Additively Manufactured Electronics (AME) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (AM) 3D printing solutions, today announced financial results for the third quarter ended September 30th , 2024 and shared a letter from Yoav Stern, the Company’s Chief Executive Officer and member of the Board of Directors.
Eltek Reports Q3 2024 Financial Results
11/20/2024 | PRNewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended September 30, 2024.
China’s Energy Subsidies Boost 3Q24 TV Shipments by Nearly 10%; Annual Shipments Return to Growth
11/19/2024 | TrendForceGlobal TV brand shipments reached 52.33 million units in 3Q24, reflecting a QoQ increase of 9.6% and a YoY growth of 0.5%.
Sypris Reports Q3 Results; Revenue Up 6.2%
11/19/2024 | Sypris Electronics LLCRevenue for the quarter increased 6.2% year-over-year, driven by a 13.6% increase for Sypris Electronics and a 0.7% increase for Sypris Technologies. Orders were up 6.5% for the quarter and 13.4% year-to-date, reflecting positive growth for both businesses.
GPV’s Interim Financial Report Q3 2024: Keeping Pace in Challenging Market
11/15/2024 | GPVGPV reported sales of DKK 2.2 billion and earnings (EBITDA) of DKK 186 million for Q3 2024. This was a slight decline compared to the same quarter in the record year of 2023, and thus, GPV kept pace in a global market affected by continued market rebalancing and declining end-customer demand.