Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Kimball results hit by recession

Thursday 5 November 2009

Citing decreased sales of furniture and electronics, Kimball International reported a decreased profit for the first quarter of its 2010 fiscal year with a profit of $1.8 million, or 5 cents a share, for its first quarter, which ended Sept. 30. In the same period a year ago, it had a profit of $2.2 million, or 6 cents a share.
Kimball, based in Jasper, Indiana, produces both furniture and electronics. Its sales in both of those business sections declined during the recent quarter.
The net revenue from its sales of electronics fell by 10 percent, to $165.5 million. The net revenue from its sales of furniture fell by 30 percent, to $109.2 million.
James C. Thyen, Kimball president and chief executive officer, said the company\'s electronics sales have improved over recent quarters, despite their being lower than they were a year ago.
In the first quarter of Kimball\'s 2010 fiscal year, those sales rose 9 percent over the fiscal 2009 fourth quarter, which had risen 8 percent over the third quarter.
At the same time, the electronic segment spent 16 percent less on administrative costs than it had a year ago.
Both the improved sales and lowered expenses helped to bolster the business\'s gross profit, Kimball said. The furniture segment, meanwhile, is suffering from the economic downturn.
\"We are now experiencing the full impact of the recession in our furniture markets, which usually lag the general economic activity,\" Thyen said. \"The commercial real estate markets remain depressed.\"
Still, the segment managed to reduce its selling and administrative costs by 18 percent.
Shares of Kimball International closed at $8.02 Thursday, up 70 cents from the previous day.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.



moreLatest News

Thursday 8 March 2018 Herman Miller International exec to retire

ZEELAND — A member of the executive team at Herman Miller Inc. has announced

Tuesday 27 February 2018 Naughtone Placed No. 22 in the Sunday Times Lloyds SME Export Track 100

naughtone, a furniture design and manufacturing company based in Knaresborough, North Yorkshire,

Wednesday 21 February 2018 Takkt AG acquires Brittish Equip4Work

Takkt AG has acquired 100 percent of the shares of Equip4Work Ltd. Signing and closing of the tra

Tuesday 20 February 2018 Steelcase survey reveals informal space trend

A recent study by office furniture vendor Steelcase has shed some light on what people really wan

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England

+44 (0) 20 7688 1928