Kimball Electronics, Inc. (NASDAQ:KE) Q1 2025 Earnings Conference Call November 5, 2024 10:00 AM ET

Company Participants

Andy Regrut - Treasurer and Investor Relations Officer
Ric Phillips - Chief Executive Officer
Jana Croom - Chief Financial Officer

Conference Call Participants

Mike Crawford - B. Riley Securities
Jaeson Schmidt - Lake Street
Anja Soderstrom - Sidoti

Operator

Good morning, ladies and gentlemen. Welcome to Kimball Electronics’ First Quarter Fiscal 2025 Earnings Conference Call. My name is Maria, and I will be the facilitator for today's call. All lines have been placed in a listen-only mode to prevent any background noise. After the completion of the prepared remarks from Kimball Electronics leadership team, there will be a question-and-answer period. [Operator Instructions]

Today's call, November 5, 2024 is being recorded. A replay of the call will be available on the Investor Relations page of the Kimball Electronics website.

At this time, I would like to turn the call over to Andy Regrut, Treasurer and Investor Relations Officer. Mr. Regrut, you may begin.

Andy Regrut

Thank you, and good morning, everyone. Welcome to our first quarter conference call. With me here today is Ric Phillips, our Chief Executive Officer; and Jana Croom, Chief Financial Officer. We issued a press release yesterday afternoon with our results for the first quarter of fiscal 2025 ended September 30, 2024. To accompany today's call, presentation has been posted to the Investor Relations page on our company website.

Before we get started, I'd like to remind you that we will be making forward-looking statements that involve risk and uncertainty and are subject to our safe harbor provisions as stated in our press release and SEC filings and that actual results can differ materially from the forward-looking statements. Our commentary today will be focused on adjusted non-GAAP results. Reconciliations of GAAP to non-GAAP amounts are available in our press release. This morning, Rick will start the call with a few opening comments. Jane will review the financial results for the quarter and guidance for fiscal 2025, and Rick will complete our prepared remarks before taking your questions.

I'll now turn the call over to Rick.

Ric Phillips

Thanks, Andy, and good morning, everyone. Before we get into the quarterly results and our continued theme to control what we can control, I'd like to take a moment to highlight the progress we have made thus far to strategically position the business for the future. First, we restructured the company by divesting the noncore AT&M business and we folded the medical CMO business into our core EMS portfolio, allowing us greater focus on key and growing areas of the medical vertical. We are seeing the differentiation and potential new customer opportunities from this shift.