Kimball Electronics Q1 net sales $292.7M, EPS $0.10, reiterates FY2022 guidance

Kimball Electronics, Inc.

2022-Q1 EPS reported $0.10 revenue$292,717,000

Net sales $292.7M, down 12% YoY from $331.7M; net income $2.6M ($0.10 diluted EPS) vs $16.8M ($0.66).
Adjusted non-GAAP net income $1.5M ($0.06 diluted EPS) vs $16.6M ($0.65) in Q1 FY2021.
Operating income $4.8M (1.6% of sales) vs $17.8M (5.4%) prior year; adjusted operating income $3.3M (1.1%).
Reiterates fiscal year 2022 guidance, citing expectation of strong second-half performance.

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