STATESVILLE, N.C. - Architectural millwork and lab furnishings firm Kewaunee Scientific reported sales of $138.6 million for its latest fiscal year, with record sales generated due to the overall strength of the laboratory furniture markets domestically, as well as in India and the Middle East.
That represents an increase of 7.7 percent from 2016. Net earnings for the year were $4,515,000, up 16.9 percent. For the latest quarter, which ended April 30, sales reached $34.6 million, up 1.4 percent from the prior year fourth quarter, with net earnings of $1.4 million, up 3.8 percent from the prior year fourth quarter.
Kewaunee, which manufacturers laboratory fixtures and casegoods for unversity and research labs, says order backlog grew to $113.5 million, an increase of 12.9 percent from the prior year.
Sales from domestic operations for the year were $113,081,000, up 9.7 percent for the year, and international sales for fiscal year 2017 were $25.5 million, relatively unchanged from fiscal year 2016 sales of $25.6 million.
"The company finished the year with another strong backlog and continues to focus on productivity and efficiency projects," said David M. Rausch, CEO.
Founded in 1906, Kewaunee Scientific 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.
Headquartered in Statesville, North Carolina, three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local and Asian markets. A China headquarters and sales office are located in Shanghai.