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KIMBALL CONFIRMS HIGHER FIRST QUARTER RESULTS

 JASPER, Ind., Oct. 14 /PRNewswire/ -- Kimball International (NASDAQ: KBALB) today confirmed previously announced estimates of higher sales and net income in the fiscal first quarter ended Sept. 30, 1993, when compared to somewhat sub-par results in the year ago same period.
 Douglas A. Habig, president and chief executive officer, said consolidated sales advanced 16 percent to $197,882,000 from last year's $171,191,000. Operating net income rose 24 percent to $9,080,000, or 43 cents per share of Class B common stock, excluding the one time impact of adopting FASB Statement No. 109, Accounting for Income Taxes. The adoption of the new FASB Statement increased net income $1,200,000, or 5 cents per Class B share, to $10,280,000, or 48 cents per Class B share. In last year's first quarter, net income was $7,320,000 or 34 cents per Class B share.
 Habig said the outlook for the second quarter and beyond appears favorable as open order backlogs remain high in all major product lines of Kimball's domestic operations.
 Habig also noted that improvement initiatives in Kimball's two European subsidiaries remain critical toward consolidated realization of domestic performance.
 Kimball International, Inc.
 Financial Highlights
 (dollars in thousands except for per share amounts)
 (unaudited)
 For the three months ended Sept. 30: 1993 1992
 Net Sales $197,882 $171,191
 Cost of Sales 140,747 120,581
 Gross Profit 57,135 50,610
 Selling, Administrative & General Expenses 42,496 38,845
 Operating Income 14,639 11,765
 Other income - Net 1,330 903
 Income before Taxes on Income 15,969 12,668
 Taxes on Income 5,689 5,348
 Net Income $10,280 $7,320
 Earnings per share:
 Class A $.48 $.34
 Class B $.48 $.34
 Average Shares Outstanding (in thousands) 21,168 21,233
 -0- 10/14/93
 /CONTACT: Ken Sendelweck, assistant treasurer, of Kimball International, 812-482-1600/
 (KBALB)


CO: Kimball International ST: Indiana IN: HOU SU: ERN

AR-DA -- CL023 -- 2150 10/14/93 11:01 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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