Brief: Kimball International Says Approved A Transformation Plan

Kimball International

20/06/2019 13:01

June 20 (Reuters) - Kimball International Inc  KBAL.O :
    * KIMBALL INTERNATIONAL INC ANNOUNCES TRANSFORMATION PLAN
    * KIMBALL INTERNATIONAL INC - APPROVED A TRANSFORMATION PLAN
IN
ALIGNMENT WITH KIMBALL INTERNATIONAL CONNECT STRATEGY
    * KIMBALL INTERNATIONAL INC - REVIEW OF OVERALL
MANUFACTURING
FACILITY FOOTPRINT TO REDUCE EXCESS CAPACITY AND GAIN
EFFICIENCIES
    * KIMBALL INTERNATIONAL INC - EFFORTS EXPECTED TO RESULT IN
ANNUALIZED PRE-TAX SAVINGS OF APPROXIMATELY $10.0 MILLION
    * KIMBALL INTERNATIONAL INC - TRANSFORMATION PLAN WILL BEGIN
IMMEDIATELY
    * KIMBALL INTERNATIONAL INC - EXPECTS A SUBSTANTIAL MAJORITY
OF
UNDERLYING ACTIVITIES OF ACTIONS TO BE COMPLETED BY END OF ITS
FISCAL YEAR 2020
    * KIMBALL INTERNATIONAL INC - REALLOCATION OF KIMBALL BRAND
SELLING RESOURCES TO HIGHER-GROWTH MARKETS; EXIT FOUR PRODUCT
SHOWROOMS ACROSS BRANDS
    * KIMBALL INTERNATIONAL INC - TARGETING AN ADDITIONAL
SAVINGS IN
FISCAL YEAR 2020 OF $8.0 MILLION RELATED TO OTHER COST REDUCTION
INITIATIVES
    * KIMBALL INTERNATIONAL INC - COMPANY IS ALSO TARGETING AN
ADDITIONAL SAVINGS IN FISCAL YEAR 2020 OF $8.0 MILLION
    * KIMBALL INTERNATIONAL - TOTAL SAVINGS IN FISCAL 2020
RELATED TO
TRANSFORMATION PLAN, OTHER COST REDUCTION INITIATIVES EXPECTED
TO BE ABOUT $16.0 MILLION
    * KIMBALL INTERNATIONAL - SAVINGS IN FISCAL 2020 RELATED TO
TRANSFORMATION PLAN & COST REDUCTION INITIATIVES IS EXPECTED TO
BE ABOUT $16 MILLION
    * KIMBALL INTERNATIONAL INC - POSITIONS OF PRESIDENT, CHIEF
OPERATING OFFICER, CURRENTLY BEING HELD BY VAN WINKLE, WOULD BE
ELIMINATED
    * KIMBALL INTERNATIONAL INC - POSITIONS OF PRESIDENT, CHIEF
OPERATING OFFICER WOULD BE ELIMINATED
    * KIMBALL INTERNATIONAL INC SEES THREE-YEAR TARGETS  ORGANIC
REVENUE 4% TO 7% CAGR
    * KIMBALL INTERNATIONAL INC SEES THREE-YEAR TARGETS 
ADJUSTED EPS
10% TO 15% CAGR

Source text for Eikon:  ID:nGNXf79DV 
Further company coverage:  KBAL.O 

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