-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueInner Layer Precision & Yields
In this issue, we examine the critical nature of building precisions into your inner layers and assessing their pass/fail status as early as possible. Whether it’s using automation to cut down on handling issues, identifying defects earlier, or replacing an old line...
Engineering Economics
The real cost to manufacture a PCB encompasses everything that goes into making the product: the materials and other value-added supplies, machine and personnel costs, and most importantly, your quality. A hard look at real costs seems wholly appropriate.
Alternate Metallization Processes
Traditional electroless copper and electroless copper immersion gold have been primary PCB plating methods for decades. But alternative plating metals and processes have been introduced over the past few years as miniaturization and advanced packaging continue to develop.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - pcb007 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
Biden-Harris Administration Awards Additional $210 Million Tech Hub Grants
01/14/2025 | U.S. Department of CommerceThe U.S. Department of Commerce’s Economic Development Administration (EDA) announced today that it plans to award approximately $210 million in implementation grants, ranging between approximately $22 million and $48 million, to six Tech Hub Designees as part of a new round of funding from Congress. In addition, EDA intends to partner with the U.S. National Science Foundation (NSF) to extend tailored resources and personalized support to Tech Hubs.
Compal Reports December 2024 Consolidated Revenue
01/10/2025 | Compal Electronics Inc.Compal Electronics, Inc. reported consolidated revenue of NT$64,057 million for December 2024, representing a month-over-month decrease of 19.6% and a year-over-year decrease of 7.9%.
Eighteen New Semiconductor Fabs to Start Construction in 2025
01/08/2025 | SEMIThe semiconductor industry is expected to start 18 new fab construction projects in 2025*, according to SEMI’s latest quarterly World Fab Forecast report. T
SCHMID Group Reports H1 2024 Financial Results and Guidance Update
01/03/2025 | SCHMID GroupSCHMID Group N.V., a global leader in providing solutions to the high-tech electronics, photovoltaics, glass, and energy systems industries, reports its unaudited financial results for the first half of 2024, covering the period ended June 30, 2024 and updates its full-year 2024 guidance.
BAE Systems Awarded $68M in U.S. Army Contracts for Additional CATV Production
01/02/2025 | BAE SystemsBAE Systems has been awarded $68 million in contracts to produce an additional 44 Cold Weather All-Terrain Vehicles (CATV) for the U.S. Army.