Electronics Production | August 23, 2012

Key Tronic had a good year

Key Tronic Corporation increased revenue and net income for the quarter and year ended June 30, 2012.
For the fourth quarter of fiscal 2012, Key Tronic reported total revenue of 96.7 million USD, up 46% from $66.0 million in the same period of fiscal 2011. For the full year of fiscal 2012, total revenue was a record $346.5 million, up 36% from $253.8 million in fiscal 2011.

Net income for the fourth quarter of fiscal 2012 was $3.8 million, up 148% from $1.5 million for the same period of fiscal 2011. For the full year of fiscal 2012, net income was $11.6 million, up 103% from $5.7 million for fiscal 2011.

“Fiscal 2012 was another great year for Key Tronic, with strong growth in revenue and earnings, driven by the rapid production ramp up of new customer programs,” said Craig Gates, President and Chief Executive Officer.

“We achieved record revenue and continued to increase our operating efficiencies. At the end of fiscal 2012, we were generating revenue from 165 separate programs and had 48 distinct customers, up from 119 programs and 33 customers at the end of the prior fiscal year. We also continued to diversify our future revenue base during the fourth quarter by winning new programs involving robotic, automotive, industrial and gaming products”.

Business Outlook
For the first quarter of fiscal 2013, the Company expects to report revenue in the range of $94 million to $99 million.


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