JASPER, IN. — Kimball Intl. reported a profit of $2.8 million for the fourth quarter of its fiscal year, which ended June 30, according to a Business Wire release. The profit came despite a 19% year-to-year decline in its furniture segment, and a 20% decline in its electronic manufacturing services segment.
According to the release, the company was aided by an 18% reduction in selling and administration expenses in the fourth quarter that came as a result of restructuring and comprehensive cost cutting, which included lower employee incentive compensation and benefit costs.
For the fiscal year of 2009, annual consolidated net sales of $1.2 billion declined 11% from fiscal year 2008 annual net sales of $1.4 billion, according to the release. Read the full release here.
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