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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 4th quarter 2014 results

Thursday 31 July 2014

Kimball International, Inc. has reported net sales of $336.8 million and net income of $7.8 million, or $0.20 per Class B diluted share, for the fourth quarter of fiscal year 2014 which ended June 30, 2014.
• Consolidated net sales in the fourth quarter of fiscal year 2014 increased 6% from the prior year fourth quarter on increased net sales in the office furniture segment.
• Fourth quarter gross profit as a percent of net sales increased 1.4 percentage points from the prior year fourth quarter on improved margins in both the EMS segment and the Furniture segment.
Fiscal year 2014 annual consolidated net sales of $1.3 billion increased 7% from fiscal year 2013 net sales of $1.2 billion. Net income for fiscal year 2014 was $33.5 million.
James C. Thyen, President and Chief Executive Officer, stated, "Fiscal year 2014 was a pivotal year for our Furniture segment. It was important for us to deliver on our commitment for this fiscal year to improve financial performance and increase our focus on providing innovative products and an exceptional customer experience. The efforts of our entire Furniture team resulted in margin improvement in both the fourth quarter and the fiscal year. Our new product introductions during the year have been very well received in the market and position us well as we move into fiscal year 2015."
Mr. Thyen concluded, "The automotive, industrial and medical markets we serve within our EMS segment remain strong. The EMS segment ended the fiscal year with solid performance in the fourth quarter, with increased volume and operating income of 4.5%. We anticipate the planned spin-off of the EMS segment will be complete around the end of October 2014."

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