Tuesday, 01 December, 2020
Kimball International, Inc. announced results for the quarter ended September 30, 2020. Consolidated net sales were $147.9 million, down 27% from $201.5 million in the year ago quarter.
Gross margin expanded by 50 basis points to 35.4% driven by cost savings from 2021 transformation program. Selling and administrative expenses of $41.7 million declined $9.2 million compared to the prior year, and now account for 28.2% of net sales, compared to 25.2% in the same quarter a year ago.