Kewaunee Scientific Revenue, Net Income & 10-K Summary

Overview

Designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products.
Product set includes steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.
Acquired Nu Aire, Inc. in November 2024, adding biological safety cabinets, airflow products, CO2 incubators, ultralow freezers, animal handling equipment, pharmacy compounding isolators, related parts/accessories, and distribution partners in regions where Kewaunee had limited presence.

Primary customers: pharmaceutical, biotechnology, industrial, chemical, and commercial research laboratories; educational institutions; healthcare institutions; governmental entities; and manufacturing facilities.
Sales channels: direct purchase orders and contracts, dealers, subsidiaries (Singapore and India), and a national distributor.
Customer concentration: two domestic dealers and a national stocking distributor together accounted for about 34% of total sales in fiscal year 2026.
International exposure: 28% of revenues derived from sales outside the United States in fiscal year 2026.

Core offerings span laboratory and healthcare furniture and related infrastructure.
Products include steel and wood casework, fume hoods, modular/adaptable systems, movable and standing workstations, benches, biological safety cabinets, and epoxy resin work surfaces and sinks.

Two operating segments: Lab Products Group (LPG) and International.
- LPG includes operations in Statesville, North Carolina, and Nu Aire (Plymouth, Minnesota).
- International comprises the company’s foreign subsidiaries as described in its accounting policies.
Segment profitability is measured as earnings before income taxes; some corporate costs are allocated to segments.
Note: Corporate and intersegment details are provided in the company’s 10-K (Note 14: Segment Information).

Order backlog as of April 30, 2026: $165.9 million (compared with $214.6 million at April 30, 2025).
Based on scheduled shipment dates and past experience, not less than 90% of the April 30, 2026 backlog is expected to ship during fiscal year 2027.
Delivery timelines can be extended by project construction schedules and customer changes; delays are possible.

Primary manufacturing located in three adjacent facilities in Statesville, North Carolina, which also house corporate and several functional groups.
Entered a sale-leaseback arrangement for the Statesville manufacturing and office facilities on March 24, 2022.
Additional manufacturing and distribution: primary distribution and warehouse facilities in Statesville; office facility in Charlotte, North Carolina; additional space in Long Lake, Plymouth, and Crystal, Minnesota.
International manufacturing and offices: manufacturing in Bangalore, India; international sales and administration in Spain, Singapore, India, and Saudi Arabia.
International subsidiaries include Singapore and India; other foreign subsidiaries are identified in the financial statement notes.

As of April 30, 2026:
- Domestic employees: 755
- International employees: 476
- Total employees: 1,231

The company files annual and quarterly reports with the SEC (Form 10-K referenced).
The Nu Aire acquisition expanded the product portfolio and channel strategy and supports the company’s objective to lead in laboratory furniture and infrastructure.