Welcome to our dedicated page for Key Tronic news (Ticker: KTCC), a resource for investors and traders seeking the latest updates and insights on Key Tronic stock.
Key Tronic Corporation (NASDAQ: KTCC) is an electronic manufacturing services (EMS) and contract manufacturing company that regularly reports on its financial performance, customer program wins and manufacturing footprint. This news page aggregates company announcements, earnings releases and other updates that the company files or distributes through press releases and SEC current reports.
In its recent communications, Key Tronic has highlighted quarterly and annual financial results, including net sales, gross margin and operating margin trends, as well as the impact of cost reduction initiatives and headcount changes. The company also reports on cash flow from operations, debt levels and non-GAAP measures such as adjusted net income (loss) and adjusted net income (loss) per share, providing reconciliations to GAAP figures.
Beyond earnings, Key Tronic’s news often covers new customer programs and contracts in areas such as pest control, personal protection, air purification, automotive, telecommunications, energy storage, aerospace systems, medical technology, utilities inspection equipment, temperature-controlled shipping solutions and energy resiliency technology. The company has announced a significant manufacturing contract with an energy resilience technology provider and a consigned materials program with a large data processing OEM, which it expects to be meaningful to revenue once fully ramped.
Another recurring theme in Key Tronic’s news is its manufacturing expansion and near-shoring strategy. The company has issued releases about expanding production capacity in Arkansas and Vietnam, shifting operations into a larger facility in Springdale, Arkansas, and right-sizing its Mexico facility to address tariff-related uncertainties and customer demand for rebalanced contract manufacturing.
Investors and followers of KTCC can use this news feed to monitor earnings announcements, program wins, facility expansions, cost structure updates and governance-related disclosures such as reporting dates and annual meeting information.
Key Tronic Corporation (Nasdaq: KTCC) plans to report its first-quarter fiscal 2021 results after market close on October 27, 2020. The company will host a conference call at 2:00 PM Pacific (5:00 PM Eastern) on the same day to discuss the results. Investors can access the call through Key Tronic’s website or by phone. Key Tronic is a leading contract manufacturer with facilities in the U.S., Mexico, China, and Vietnam, serving major original equipment manufacturers with engineering, materials management, and assembly services.
Key Tronic Corporation (Nasdaq: KTCC) announced the closing of a new $93 million credit facility on August 14, 2020, aimed at supporting anticipated growth. This new five-year asset-based senior secured revolving credit facility replaces the previous agreement with Wells Fargo. The facility allows for an additional $25 million increase, subject to conditions. After settling existing debt, approximately $16 million remains available. The facility is secured by the company's assets and entails financial covenants including a fixed charge coverage ratio of at least 1.25:1.00.
Key Tronic Corporation (KTCC) reported its fourth quarter results for fiscal year 2020, posting revenue of $116.0 million, a 10% increase from the previous year. However, the company's revenue faced constraints due to a temporary shutdown in Juarez owing to COVID-19. Full-year revenue dropped to $449.5 million from $464.0 million in fiscal 2019. The net income for Q4 was $1.5 million or $0.14 per share, boosted by a tax benefit. For Q1 of fiscal 2021, revenue guidance is $118 million to $125 million, with earnings projected between $0.18 and $0.25 per share.
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