Exhibit 99.1
KIMBALL ELECTRONICS, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2016 RESULTS
Quarterly net sales record of $220 million
Cash flow from operating activities in the fourth quarter of $8.8 million
Returned $5.0 million to Share Owners in stock repurchases during the fourth quarter
JASPER, IN (August 3, 2016) - Kimball Electronics, Inc. (Nasdaq: KE), a leading global electronic manufacturing services provider of high-quality, durable electronic products, today announced financial results for its fourth quarter and fiscal year ended June 30, 2016

 
Three Months Ended
 
Fiscal Year Ended
 
June 30,
 
June 30,
(Amounts in Thousands, except EPS)
2016
 
2015
 
2016
 
2015
Net Sales
$
220,402

 
$
201,126

 
$
842,060

 
$
819,350

Operating Income
$
8,790

 
$
9,050

 
$
29,722

 
$
36,355

Adjusted Operating Income (non-GAAP)
$
8,790

 
$
9,074

 
$
29,859

 
$
38,949

Operating Income %
4.0
%
 
4.5
%
 
3.5
%
 
4.4
%
Adjusted Operating Income (non-GAAP) %
4.0
%
 
4.5
%
 
3.5
%
 
4.8
%
Net Income
$
5,771

 
$
7,394

 
$
22,287

 
$
26,205

Adjusted Net Income (non-GAAP)
$
5,771

 
$
7,410

 
$
22,372

 
$
28,631

Diluted EPS
$
0.20

 
$
0.25

 
$
0.76

 
$
0.89

Adjusted Diluted EPS (non-GAAP)
$
0.20

 
$
0.25

 
$
0.77

 
$
0.97


Donald D. Charron, Chairman and Chief Executive Officer, stated, “Continued strength in the automotive market combined with sales from new program launches helped us set new quarterly and annual sales records in the fourth quarter and fiscal year of 2016.  Our new business opportunities pipeline remains healthy and we continue to work diligently to achieve our goal of $1 billion in annual sales by fiscal year 2018.”

Mr. Charron continued, “While we were pleased to have achieved our goal of 4% operating income in the fourth quarter, we continue to experience pressure on our margins and still have work to do in order to consistently achieve our 4% operating income target. Margin expansion will continue to be a priority of focus for us going forward.  Fiscal year 2017 will be a pivotal year for us as we work through another year of significant new program launches, the ramp-up of our new Romania operation, and the integration of our recent Medivative and Aircom acquisitions.”

Fourth Quarter Fiscal Year 2016 Overview:
Consolidated net sales increased 10% compared to the fourth quarter of fiscal year 2015, setting a new quarterly sales record.
On May 2, 2016, the Company announced the acquisition of Medivative Technologies, LLC. Excluding the incremental net sales associated with the acquisition, consolidated net sales increased 8% over the prior year fourth quarter. Consolidated earnings were not materially impacted during the quarter from the Medivative acquisition.
Incremental net loss associated with the start-up of the Romania facility was $1.0 million during the current year fourth quarter.
Cash flow from operating activities was $8.8 million during the quarter.
Investments in capital expenditures were $6.5 million during the quarter.
$5.0 million was returned to Share Owners during the quarter in the form of common stock repurchases associated with the $20 million, 18-month stock repurchase program announced in October 2015.
Cash and cash equivalents were $54.7 million and borrowings outstanding on credit facilities were $9.0 million at June 30, 2016.
Cash conversion days (“CCD”) for the quarter ended June 30, 2016 were 59 days, which improved from 63 days for the same quarter last year. CCD is calculated as the sum of days sales outstanding plus production days supply on hand less accounts payable days.




The following information was filed by Kimball Electronics, Inc. (KE) on Wednesday, August 3, 2016 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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