Kimball International Swings to Quarterly Loss
Kimball International is headquartered in Jasper. (IIB photo courtesy: Wes Mills)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowJasper-based Kimball International Inc. (Nasdaq: KBAL) is reporting a fiscal first quarter net loss of $5.1 million, compared to net income of $5.4 million during the same quarter last year. Despite the drop, Chief Executive Officer Kristie Juster says the company is on pace for double-digit revenue growth in the second half of the fiscal year.
Kimball International is a commercial furnishings company that specializes in the workplace and health and hospitality markets. Juster says new product introductions drove revenue growth in both markets, “demonstrating how well Kimball International’s designs address changing dynamics within our key verticals.”
“Robust order growth in the first quarter was broad-based, with strong year-on-year increases across all Workplace and Health verticals, and the highest order level in our Hospitality market in a year,” Juster said. “These trends are consistent with our strategy of capturing growth in the Health market as it ramps post-COVID, pivoting to more customized projects in the Hospitality market, and gaining traction in Workplace by expanding our offerings with products and solutions that provide flexibility and adaptability.”
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