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Kewaunee Scientific Reports Record Sales and Earnings for First Quarter
Date:8/27/2013

million, and new 7-year term debt of $5 million, which replaced outstanding term debt of $3.5 million.

"We had an excellent quarter, both domestically and internationally," said David M. Rausch, Kewaunee's President and Chief Executive Officer.  "During the quarter, the Company substantially benefited from the favorable timing of several projects. I also am extremely pleased with the performance achieved throughout our organization. In Statesville where Domestic sales were up nearly 20% over the prior year, our Metal Plant and Epoxy Resin Plant produced record shipments, while maintaining high levels of quality and productivity. Our International Operations also had an excellent quarter with sales up nearly 22% over the prior year. Despite these much higher volumes, our Associates continued to do an excellent job in controlling operating costs.

"Looking forward, the Company expects physical year 2014 to perform favorably over fiscal year 2013, although typically we experience variations in results from quarter-to-quarter due to our customers' construction schedules."

Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. Laboratory furniture products include both steel and wood cabinetry, fume hoods, adaptable modular systems, moveable workstations, biological safety cabinets, and epoxy resin counters and sinks. Healthcare furniture products include laminate casework, storage systems, and related products for healthcare applications. Technical furniture products include column systems, slotted-post systems, pedestal systems, and stand-alone benches.

The Company's corporate headquarters are located in Statesville, North Carolina. Three manufacturing facilities are located in Statesville, NC serving the domestic
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SOURCE Kewaunee Scientific Corporation
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