Kimball International, Inc. Reports Second Quarter Fiscal Year 2018 Results
Kimball International, Inc. - Class B (KBAL)
US:NASDAQ Investor Relations:
kimballinternational.com/investor-information
Company Research
Source: GlobeNewswire
JASPER, Ind., Jan. 31, 2018 (GLOBE NEWSWIRE) -- Kimball International, Inc. (NASDAQ:KBAL) today announced the following results for the quarter ended December 31, 2017: Revenue was $173.7 million, a 2% increase over the prior year second quarter.Second quarter operating income was $12.0 million, or 6.9% of net sales, inclusive of a $1.7 million gain on the sale of an administrative building.Second quarter net income was $7.4 million and diluted earnings per share was $0.20, inclusive of a one-time unfavorable $2.0 million deferred tax adjustment which was partially offset by a $1.6 million favorable tax rate adjustment, both driven by the Tax Cuts and Jobs Act.Orders increased 8% over the prior year second quarter.The D’style, Inc. acquisition was successfully completed on November 6, 2017.Organic sales and orders in the hospitality vertical hit record levels in the second quarter. Bob Schneider, Chairman and CEO, stated, “Our office-related verticals were generally challe
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