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Kimball Electronics profit misses consensus by 24.8% in fiscal Q2

Kimball Electronics Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS decreased 37.5% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.0 million, a decrease of 37.5% from $6.3 million in the prior-year period.

The normalized profit margin dropped to 1.9% from 3.1% in the year-earlier period.

Total revenue totaled $207.1 million, compared with $207.6 million in the year-earlier period, and total operating expenses climbed year over year to $200.2 million from $197.6 million.

Reported net income fell 23.9% from the prior-year period to $4.7 million, or 16 cents per share, from $6.2 million, or 21 cents per share.