Exhibit 99.1
KIMBALL ELECTRONICS, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2018 RESULTS
Fourth quarter net sales were $277 million, up 15% from the prior year fourth quarter
Operating income percent improved to 4.1% for the quarter from 3.5% in the prior year quarter
Strong cash flow provided by operations of $19.3 million for the quarter
Returned $3.1 million to Share Owners in stock repurchases during the quarter
JASPER, IN (August 1, 2018) - 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, 2018
 
 
 
 
 
Three Months Ended
 
Fiscal Year Ended
 
June 30,
 
June 30,
(Amounts in Thousands, except EPS)
2018
 
2017
 
2018
 
2017
Net Sales
$
276,768

 
$
241,268

 
$
1,072,061

 
$
930,914

Operating Income
$
11,354

 
$
8,455

 
$
42,348

 
$
43,057

Adjusted Operating Income (non-GAAP)*
$
11,354

 
$
8,455

 
$
42,348

 
$
39,052

Operating Income %
4.1
%
 
3.5
%
 
4.0
%
 
4.6
%
Adjusted Operating Income (non-GAAP) %
4.1
%
 
3.5
%
 
4.0
%
 
4.2
%
Net Income
$
5,784

 
$
8,128

 
$
16,752

 
$
34,179

Adjusted Net Income (non-GAAP)*
$
7,193

 
$
8,128

 
$
34,611

 
$
30,755

Diluted EPS
$
0.22

 
$
0.30

 
$
0.62

 
$
1.24

Adjusted Diluted EPS (non-GAAP)*
$
0.27

 
$
0.30

 
$
1.28

 
$
1.12

* A reconciliation of GAAP and non-GAAP financial measures is included below.
Donald D. Charron, Chairman and Chief Executive Officer, stated, “Very strong growth in our automotive and medical end market verticals helped us achieve double-digit year-over-year growth for the fourth consecutive quarter and exceed our long-time stated goal of $1 billion in annual sales in fiscal year 2018.”
Mr. Charron continued, “We are pleased to have improved our operating income margin by 60 basis points from the prior year quarter and 20 basis points sequentially when compared to the third quarter.  Partially offsetting the improved operating performance in the fourth quarter were expenses directly associated with our pending acquisition of GES, which we believe is still on track to close in this first quarter of fiscal year 2019. The much-anticipated progress in Romania came through in the fourth quarter helping to drive the improved overall performance, and we look forward to their continued growth and positive contributions in fiscal year 2019.  We remain focused on achieving our mid-range goal of 4.5% operating income.”
Fourth Quarter Fiscal Year 2018 Overview:
Consolidated net sales increased 15% compared to the fourth quarter of fiscal year 2017. Net sales for the quarter includes a 4% favorable impact from foreign currency movements compared to the prior year quarter.
Costs incurred and included in operating income during the quarter related to the pending acquisition of GES were approximately $0.6 million, $0.4 million net of tax, or $0.01 per diluted share.
The current quarter results include non-operating expense of $1.1 million related to pre-tax net losses from foreign currency movements, which was a fluctuation of $2.1 million from pre-tax net gains related to foreign currency movements of $1.0 million recognized in the same quarter of the prior year.
Adjusted Net Income excludes income tax expense of $1.4 million ($0.05 per diluted share) in the fourth quarter for measurement period adjustments to estimated provisions related to the U.S. Tax Cuts and Jobs Act (“Tax Reform”) and subsequent guidance issued by the Internal Revenue Service. See below for additional information and a reconciliation of non-GAAP financial measures.
Operating activities provided cash flow of $19.3 million during the quarter, which compares to cash flow provided by operating activities of $12.0 million in the fourth quarter of fiscal year 2017.
Cash conversion days (“CCD”) for the quarter ended June 30, 2018 were 63 days, up from 60 days in the same quarter last year, and up sequentially from 62 days in the prior quarter. 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 1, 2018 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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