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A business consultancy, based in London, England, which provides its clients with expert advice and guidance for exporting and importing office furniture from overseas to tap the growth opportunities available in furniture and interiors markets in Europe, north America, Australasia and Japan.

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A business consultancy, based in London, England, which provides its clients with the latest updates on office furniture exhibitions and office furniture trade shows to help them exploit successfully furniture and interiors markets in Europe, North America, Australasia and Japan

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A business consultancy, based in London, England, provides its clients with a complete list of office furniture trade associations of different countries and information guidance as to how to exploit successfully furniture and interiors markets in Europe, North America, Australasia and Japan.

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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.

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A business consultancy, based in London, England, JSA offers monthly office furniture league table to provide its clients with in-depth information & major office furniture strategic alliance news to exploit successfully office furniture and interiors markets in Europe, North America, Australasia and Japan.

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A business consultancy, based in London, England, JSA provides its clients with latest office furniture news from different corners of the world to help them exploit successfully office furniture and interiors markets in Europe, North America, Australasia and Japan.

' ?> Welcome to JSA Consultancy Servicesdd

A business consultancy, based in London, England, which provides clients with 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.

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Kimball International, Inc. Reports 1st Quarter 2011 results

Friday 5 November 2010

Kimball International, Inc. today reported net sales of $294.7 million and net income of $0.5 million, for the first quarter of fiscal year 2011 which ended September 30, 2010. Net income for the fiscal year 2011 first quarter included $0.1 million of after-tax restructuring expense.
Net sales in the first quarter of fiscal year 2011 increased 7% in both the furniture and electronic manufacturing services segments. Sequentially, consolidated net sales in the first quarter of fiscal year 2011 increased 1% over the most recent fourth quarter as a 12% increase in net sales in the Furniture segment was partially offset by a 5% reduction in net sales in the EMS segment. First quarter gross profit as a percent of net sales declined in comparison to the prior year due to lower margins in the Furniture segment resulting primarily from competitive pricing pressures, commodity and freight cost increases and higher employee benefit costs. Consolidated first quarter selling and administrative expenses increased 3% compared to the prior year primarily due to higher advertising and product marketing costs and increased employee benefit costs. As a percent of sales, fiscal year 2011 first quarter consolidated selling and administrative expenses declined compared to the prior year. Other Income/Expense for the first quarter of fiscal year 2011 was income of $0.8 million compared to income of $2.0 million in the prior year first quarter. The reduction in income from the prior year was primarily related to volatility in the European foreign exchange rates which impact the EMS segment. The Company\'s effective tax rate of 7.3% for the current year first quarter was impacted by relatively low pre-tax income coupled with a favorable foreign deferred tax valuation allowance adjustment of $0.1 million. Operating cash flow for the first quarter of fiscal year 2011 was a cash outflow of $10.4 million compared to a cash inflow of $12.5 million in the first quarter of the prior year. The cash outflow in the current year first quarter was primarily driven by higher inventory levels in the EMS segment associated with customer requested shipping delays, the ramp up of certain programs, and the transfer of production among the Company\'s EMS facilities. The Company\'s cash and short-term investments declined to $53.3 million at September 30, 2010 compared to $67.8 million at June 30, 2010. Long-Term Debt including Current Maturities is $0.3 million. The Company had no short-term borrowings outstanding at September 30, 2010 or June 30, 2010.
James C. Thyen, Chief Executive Officer and President, stated, \"We were pleased to see our Furniture segment return to profitability in the first quarter. We have seen increased momentum in order rates of both office and hospitality furniture during the quarter. In our EMS segment, after posting two very strong quarters at the end of last fiscal year, this segment recorded a small net loss for the first quarter. We had unanticipated sharp demand changes of a few customer programs coupled with supply chain allocation. We chose to sustain our excellent service to our customers and incurred extra charges.” Mr. Thyen concluded, \"There continues to be economic uncertainty, but we are seeing some stability. We are well-positioned in our markets and intend to take advantage of market opportunities as they arise, sharpening our execution, while continuing to make investments for growth.\"

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


+44 (0) 20 7688 1928