Loading...
•
Jun 30, 2021
Kimball Electronics Q4 2021 Earnings Report
Kimball Electronics reported strong Q4 and fiscal year 2021 results, completing a record-setting year and providing guidance with strength continuing in fiscal 2022.
Key Takeaways
Kimball Electronics reported a strong fourth quarter and fiscal year 2021, with net sales up 15% year-over-year and adjusted EPS increasing 71% over the same period last year. The company set records for net sales, operating income as a percent of net sales, diluted EPS, and cash flow from operating activities.
Net sales in the fourth quarter totaled $329 million, up 15% year-over-year.
Operating income was 5.2% of net sales, with adjusted non-GAAP at 5.5%, a 170 bps increase over adjusted non-GAAP Q4 last year.
Net income was $14.4 million, or $0.57 per diluted share, compared to a net loss of $1.3 million, or ($0.05) per share, in Q4 last year.
Cash flow from operating activities was strong at $26.3 million during the fourth quarter.
Kimball Electronics
Kimball Electronics
Kimball Electronics Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comMedical Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
Kimball Electronics provided fiscal year 2022 guidance with net sales in the range of $1.4 - $1.5 billion and operating income in the range of 4.5% - 5.0% of net sales.
Positive Outlook
- Net sales in the range of $1.4 - $1.5 billion, an 8% to 16% increase year-over-year
- Operating income in the range of 4.5% - 5.0% of net sales
Challenges Ahead
- Ongoing semiconductor shortage
- A portion of shippable backlog continues to shift out
- Material supply steadily catch up with customer demand throughout the first half of fiscal year 2022
- The majority of the surplus backlog in the second half of fiscal year 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income