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Jun 30, 2020
Kimball Electronics Q4 2020 Earnings Report
Kimball Electronics reported Q4 2020 results with a net sales decrease of 10% year-over-year and a net loss, but adjusted net income was positive.
Key Takeaways
Kimball Electronics reported a decrease in net sales by 10% compared to the fourth quarter of fiscal year 2019. The company experienced a net loss of $1.3 million, but adjusted net income (non-GAAP) was $8.5 million. The medical vertical saw a 23% increase in sales, while the automotive vertical faced a decline due to plant shutdowns.
Net sales decreased by 10% year-over-year, totaling $286 million.
Net loss was $1.3 million, including a non-cash goodwill impairment charge and after-tax non-operating charge related to the GES acquisition.
Adjusted net income (non-GAAP) reached $8.5 million.
Cash flows from operating activities were strong at $21.5 million.
Kimball Electronics
Kimball Electronics
Kimball Electronics Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comMedical Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
The company expects momentum in the medical vertical to continue during the first half of fiscal year 2021 and automotive industry restart has been slower than expected, the company is encouraged to see June-ending run rates start to approach pre-COVID-19 levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income