Exhibit 99.1
KIMBALL ELECTRONICS, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2015 RESULTS
JASPER, IN (August 6, 2015) - Kimball Electronics, Inc. (Nasdaq: KE), a leading global electronic manufacturing services provider for high-quality, durable electronic products, today announced financial results for its fourth quarter and fiscal year ended June 30, 2015
 
Three Months Ended
 
Fiscal Year Ended
 
June 30,
 
June 30,
(Amounts in Thousands, except EPS)
2015
 
2014
 
2015
 
2014
Net Sales
$
201,126

 
$
198,949

 
$
819,350

 
$
741,530

Operating Income
$
9,050

 
$
7,721

 
$
36,355

 
$
29,930

Adjusted Operating Income (non-GAAP)
$
9,074

 
$
9,152

 
$
38,949

 
$
26,877

Operating Income %
4.5
%
 
3.9
%
 
4.4
%
 
4.0
%
Adjusted Operating Income (non-GAAP) %
4.5
%
 
4.6
%
 
4.8
%
 
3.6
%
Net Income
$
7,394

 
$
5,359

 
$
26,205

 
$
24,613

Adjusted Net Income (non-GAAP)
$
7,410

 
$
6,790

 
$
28,631

 
$
23,548

Diluted EPS
$
0.25

 
$
0.18

 
$
0.89

 
$
0.84

Adjusted Diluted EPS (non-GAAP)
$
0.25

 
$
0.23

 
$
0.97

 
$
0.81


Donald D. Charron, Chairman and Chief Executive Officer, stated, “After three consecutive quarters of double-digit growth, we experienced some softness in our fourth quarterOverall, our book of business is relatively stable and we continue to work closely with our customers to understand their expected demand going forward.  We have set a mid-range goal of achieving $1 billion in annual sales in fiscal year 2018.  Our new business opportunities pipeline remains healthy and we will continue to work diligently to achieve that goal.”

Mr. Charron continued, “We were very pleased with our fiscal year 2015 results.  We grew our sales by over 10%, setting a new annual sales record while exceeding our operating income goal of 4%.  Our functional teams substantially completed the spin-off related actions necessary to physically separate the information technology systems and office facilities from Kimball International six months ahead of the original schedule.  Our operations teams remain focused on disciplined execution and, after our first eight months as a standalone public company, we continue to have good momentum going into fiscal year 2016.”
Fourth Quarter Fiscal Year 2015 Highlights:
Net sales increased 1% from the prior year fourth quarter.
Sales related to the exit of JCI were down $16.8 million compared to the same quarter last year.
Spin-off expenses in the current year fourth quarter were insignificant. Prior year fourth quarter spin-off costs were $1.4 million.
Cash flows provided by operating activities for the fourth quarter of fiscal year 2015 were $16.8 million.
Cash and cash equivalents at June 30, 2015 were $65.2 million.
Days sales outstanding, calculated as the average of monthly trade accounts and notes receivable divided by one day’s average net sales, was 61.6 days for the three months ended June 30, 2015 compared to 56.0 days for the three months ended June 30, 2014.
Fiscal Year 2015 Highlights:
Net sales increased 10% from the prior fiscal year.
Sales related to the exit of JCI were down $57.6 million compared to the prior year.
Spin-off expenses totaled $2.6 million and $2.2 million in fiscal years 2015 and 2014, respectively.
The prior fiscal year comparison includes $5.7 million of pre-tax income resulting from settlement proceeds related to two antitrust class action lawsuits of which the Company was a member.
Cash flows provided by operating activities for fiscal year 2015 were $28.1 million.
Capital expenditures were $36.9 million in fiscal year 2015 compared to $20.8 million in fiscal year 2014.




The following information was filed by Kimball Electronics, Inc. (KE) on Thursday, August 6, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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