JASPER, Ind. – Contract furniture manufacturer Kimball has reported $183 million in second quarter net sales, a 21% increase over last year.
Kimball reported a 15% increase in workplace furniture sales, a 17% increase in health furniture sales and a 64% increase in hospitality sales.
JASPER, Ind. – Contract furniture manufacturer Kimball has reported $183 million in second quarter net sales, a 21% increase over last year.
Kimball reported a 15% increase in workplace furniture sales, a 17% increase in health furniture sales and a 64% increase in hospitality sales.
JASPER — Kimball International announces that its corporate headquarters in Jasper, Indiana, has earned WELL Certified™ Platinum through the International WELL Building Institute (IWBI). Earlier this year, Kimball International was one of the first furniture manufacturers to have multiple corporate showrooms obtain the WELL Health-Safety Rating. This next designation marks an important achievement and visible commitment to supporting the health and well-being of their staff, visitors, and stakeholders, as well as the broader community.
(GLOBE NEWSWIRE) — Kimball International, Inc. (NASDAQ:KBAL) today announced that Bob Schneider has informed the Board of Directors of his plans to retire on October 31, 2018, after four years as CEO. At that time, Mr. Schneider intends to step down as Chairman of the Board but will remain a member of the Board of Directors to provide continuity during the transition, for a time period not to exceed the remainder of his current term which ends in 2020.
The Board has established a CEO search committee, composed of independent directors, which has retained a leading executive search firm to help identify and evaluate internal and external candidates to lead Kimball International into the future.
Pat Connolly, Lead Independent Director of the Board, commented, “On behalf of the entire Board, I would like to thank Bob for his over thirty years of service to the Company, and his outstanding leadership as CEO and Chairman for the last four years. Bob expertly guided Kimball International through the difficult work of becoming a single class public company, while leading us to a remarkable financial turnaround. Bob’s decisive leadership, personal style, and unwavering focus led to results that exceeded both our and our shareholders’ expectations.”
JASPER, Ind., May 01, 2018 (GLOBE NEWSWIRE) — Kimball International, Inc. (NASDAQ:KBAL) today announced the following results for the quarter ended March 31, 2018:
Bob Schneider, Chairman and CEO, stated, “I was pleased to see continued strength in the hospitality market in our third quarter; however, increased sales in this vertical market were unfortunately offset by lower sales in other market verticals, resulting in flat organic sales for the third quarter. Encouragingly, we saw a pick up in orders late in the quarter continuing into April. Consolidated organic orders increased approximately 30% in April over the prior year, and specifically in the hospitality vertical, April orders were the strongest of any month we have seen since 2014. As I look to the future, I am very excited about the many new products we’ve recently introduced to the market that are starting to gain traction, and also the ones we will be introducing at the office industry trade show in June. Our product portfolio is filling out very nicely with creative products resonating with the design community and end-users. While we are pushing hard on new product introductions, other teams are also actively working on continuous improvement and cost reduction projects to offset the increased inflation we are experiencing in transportation, steel and other commodities. Our teams have several productivity and lean initiatives that have been in the works for several months, with anticipated savings of approximately $7 million in fiscal year 2019. In addition, our National brand recently implemented a price increase that was effective on April 6, 2018, while our Kimball brand announced a price increase that will be effective in July 2018, which will help in offsetting the heavier than usual commodity inflation we are experiencing. We estimate that higher transportation and commodity costs reduced our operating income by approximately $1.9 million in our third quarter.”
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