KIMBALL INTERNATIONAL RESPONDS TO THE EVOLVING COVID-19 PANDEMIC - Seite 2

A Commitment to our Customers
Our customer service and sales organizations are fully operational and working remotely.  We are working closely with our suppliers and customers to support their needs and shifting demand.

Preparation for the Potential Economic Impact
While considerable uncertainties remain regarding the extent and duration of the crisis, we are also taking critical steps to manage the fluctuating business environment.  Our focus is to manage our liquidity and assure the stability of our operations through these unprecedented times. Our company is well positioned to weather the storm through these temporary disruptions given its strong balance sheet and liquidity profile.  Additionally, the board and management team are actively considering and pursuing other efforts to align the company’s cost structure and capital allocation strategy to the anticipated operating and demand environment.

Our Path Ahead
While we are actively engaged in preparing for the impact of this crisis, we remain focused and confident in our path ahead.  We believe continued execution of our work on the Kimball International Connect Strategy, the related cost savings and our emphasis on the healthcare vertical have set us up to emerge from this crisis in a strong position and ready to take on what is an exciting future.

Kimball International will provide additional information when it releases its third quarter fiscal 2020 earnings in early May.

Forward-Looking Statements

Certain statements contained within this release are considered forward-looking under the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties including, but not limited to, the risk that any projections or guidance, including revenues, margins, earnings, or any other financial results are not realized, adverse changes in the global economic conditions, the impact of changes in tariffs, increased global competition, significant reduction in customer order patterns, loss of key suppliers, loss of or significant volume reductions from key contract customers, financial stability of key customers and suppliers, relationships with strategic customers and product distributors, availability or cost of raw materials and components, changes in the regulatory environment, global health concerns (including the impact of the COVID-19 outbreak) or similar unforeseen events. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the company are contained in the company’s Form 10-K filing for the fiscal year ended June 30, 2019 and other filings with the Securities and Exchange Commission.