STATESVILLE, NC - Kewaunee Scientific Corporation, a manufacturer of laboratory, healthcare and technical furniture, tripled its profit while setting a new annual sales record for its 2013 fiscal year ended April 30.
Kewaunee Scientific posted FY 2013 sales of $117,131,000, an increase of 13.9% compared to FY 2012. Net earnings soared to $3,044,000, up 295.2% from the prior year. Sales from domestic operations, totaled $99,519,000, up 11.4% from FY 2012. Kewaunee noted in its earnings release that the "marketplace for publicly funded wood educational projects continued to be well below pre-recession levels, with fewer large project opportunities available during the year."
"Fiscal year 2013 was an excellent year," said William Shumaker, who will be retiring from his role as CEO of Kewaunee Scientific at the end of July. "I am pleased that we exceeded our sales and earnings goals and made excellent progress against our goals to strengthen the Kewaunee brand, strengthen relationships with existing customers, build relationships with new and prospective customers, reduce costs, and increase market share...As I look forward to fiscal year 2014, I expect progress to continue in all of the above areas."
Kewaunee Scientific has three manufacturing plants in Statesville and a plant in Bangalore, India, to service market is In India and Asia. The company''s laboratory furniture products include both steel and wood cabinetry, fume hoods, adaptable modular systems, movable workstations, biological safety cabinets, and epoxy resin counters and sinks. Healthcare furniture products include laminated casework, systems, and related products for healthcare applications. Technical furniture products include column systems, slotted-post systems, pedestal systems, and stand-alone benches.
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