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Kimball International 3Q Profit Rises 54 Percent

Thu, 05/06/2010 - 12:25pm
Manufacturing.net

JASPER, Ind. (AP) -- Kimball International Inc. said Thursday that its fiscal third-quarter net income rose 54 percent, benefiting from a gain related to a land and plant sale.

The electronics and furniture maker\'s profit climbed to $6.3 million, or 17 cents per share, compared with $4.1 million, or 11 cents per share, a year earlier.

The latest quarter\'s results included a $7.7 million gain related to the sale of land and a plant in Poland. Excluding that, Kimball lost $800,000, or 2 cents per share.

Revenue for the three months ended March 31 increased 5 percent to $282.3 million from $268.9 million on strength in its electronic manufacturing services divisions.

Kimball\'s stock added a penny to $7.38 in afternoon trading.

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