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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.

Kimball International, Inc. Reports Third Quarter Fiscal Year 2012 Results

Thursday 3 May 2012

Kimball International, Inc. today reported net sales of $284.4 million and net income of $2.5 million, for the third quarter of fiscal year 2012 which ended March 31, 2012. Net income for the fiscal year 2012 third quarter included $0.5 million of after-tax restructuring expense
Consolidated net sales in the third quarter of fiscal year 2012 declined 10% from the prior year third quarter as a 7% increase in net sales in the Furniture segment was more than offset by a 19% decline in net sales in the Electronic Manufacturing Services (EMS) segment
Third quarter gross profit as a percent of net sales improved 1.7 percentage points from the prior year third quarter due to a shift in sales mix towards the Furniture segment which carries a higher gross profit percentage than the EMS segment and improved margins in the EMS segment.
James C. Thyen, Chief Executive Officer and President, stated, "After a strong performance in the second quarter, our Furniture segment ended with a loss for the third quarter, partially resulting from the normal seasonal slowdown in the office furniture industry. New orders in this segment slowed during the third quarter, although we did see a pick-up late in the quarter. While leading order activities such as customer visits and project quotes remain strong, we believe our fourth quarter will continue to be challenging in this segment."

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