STATESVILLE, N.C. - Kewaunee Scientific (Nasdaq: KEQU) sales for the first quarter rose 20 percent, to $37.3 million. The laboratory millwork and cabinetry firm's domestic sales, which are most of its business, grew 22 percent, to $29.6 million. International sales, services from Kewanuee's plant in India, grew 13 percent, to $7.6 million.
Net earnings were up 38 percent to $1.3 million.
Both Domestic and International sales were strong during the quarter, as the Kewaunee sold laboratory furniture and scientific equipment around the globe, including a large order in the Middle East that was partially delivered in the first quarter of fiscal 2017.
The order backlog was $86.2 million at July 31, 2016, even with the 2015 figure but lower than the $100.5 million in April 30, 2016. Kewanaunee says it is currently competing for a number of large projects that, if won, would significantly strengthen the current order backlog.
"We had a very strong first quarter with our Domestic and International businesses posting strong year-over-year sales growth," said David M. Rausch, Kewaunee CEO, and said the business is "benefiting from ongoing productivity improvements and cost reduction programs. Looking forward, I remain optimistic that sales will continue to increase in fiscal year 2017.
Founded in 1906, Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture products. Products include steel, wood, and laminate casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin worksurfaces and sinks.
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