STATESVILLE, N.C. - Architectural millwork and lab furnishings firm Kewaunee Scientific has seen its sales decrease to $39.3 million, a 6.7 percent drop from last year's first quarter.
Domestic sales took a big hit - dropping 18.8 percent to $29.3 million. International sales reached $10 million - a 65 percent increase - largely thanks to a large customer in India, the company said. It attributed its domestic drop to lower dealer sales.
"Recognizing the challenging second half of fiscal year 2019, I am pleased with the company's first quarter sales results for fiscal year 2020 and the progress we are making to return to sustained levels of profitability and cash generation," said Thomas D. Hull III, Kewaunee's President and Chief Executive Officer. Hull took the company reins when former CEO David M. Rausch resigned earlier this year.
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.
The Company's corporate headquarters are located 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.
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