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EX - 99.1 2 exhibit9918k09302021q110q.htm KIMBALL ELECTRONICS , INC . EXHIBIT 99.1 Exhibit 99.1 KIMBALL ELECTRONICS , INC . REPORTS FIRST QUARTER FISCAL 2022 RESULTS ; REITERATES GUIDANCE FOR FISCAL YEAR 2022 , DRIVEN BY STRONG SECOND HALF ● ● Net sales in the first quarter of fiscal 2022 totaled $ 292.7 million . Net income of $ 2.6 million , or $ 0.10 per diluted share . Adjusted non - GAAP net income of $ 1.5 million , or $ 0.06 per diluted share . JASPER , Ind . , November 3 , 2021 ( BUSINESS WIRE ) --Kimball Electronics , Inc. ( Nasdaq : KE ) today announced financial results for the first quarter ended September 30 , 2021 . $ $ ( Amounts in Thousands , except EPS ) Net Sales Operating Income Adjusted Operating Income ( non - GAAP ) ( ¹ ) Operating Income % Adjusted Operating Income ( non - GAAP ) % Net Income Adjusted Net Income ( non - GAAP ) ( 1 ) Diluted EPS Adjusted Diluted EPS ( non - GAAP ) ( ¹ ) ( 1 ) A reconciliation of GAAP and non - GAAP financial measures is included below . LA CA $ $ LA LA LA LA $ $ Three Months Ended September 30 , $ 2021 292,717 $ 4,780 3,309 1.6 % 1.1 % 2,564 1,514 0.10 0.06 GALA $ $ $ LA LA LA $ $ $ 2020 331,749 17,807 18,016 5.4 % 5.4 % 16,811 16,552 0.66 0.65 Donald D. Charron , Chairman and Chief Executive Officer , stated , " I am proud of our people , our company , and the results for Q1 , considering the difficult operating environment caused by issues in the global supply chain . Component shortages , which are impacting companies worldwide , continue to make it challenging to keep pace with strong market demand . We were disappointed by the lack of improvement in the overall situation in the September ending quarter , when we were actually expecting some level of recovery . Conditions deteriorated in the period due to COVID related restrictions in Malaysia , and the worsening of the backlog in U.S. west coast ports . " Mr. Charron continued , " While these supply chain challenges had a more significant impact on absorption than anticipated , we are committed to retaining our experienced and talented workforce around the world as we see these disruptions as a short - term issue . As supply constraints ease , we are well positioned to ramp production on our record backlog and support our strong funnel of new product introductions . We are reiterating our guidance for fiscal 2022 , although the bifurcation between the first and second halves will be more pronounced . "