-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueIPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
The Cost of Rework
In this issue, we investigate rework's current state of the art. What are the root causes and how are they resolved? What is the financial impact of rework, and is it possible to eliminate it entirely without sacrificing your yields?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Key Tronic Gearing Up for Growth
May 11, 2017 | Key Tronic Corp.Estimated reading time: 1 minute
EMS firm Key Tronic Corporation has reported results for the three months ended April 1, 2017. For the third quarter of fiscal year 2017, the company posted total revenue of $113.6 million, compared to $118.4 million in the same period of fiscal year 2016. For the first nine months of fiscal year 2017, total revenue was $349.3 million, compared to $361.1 million in the same period of fiscal year 2016.
Net income for the third quarter of FY2017 was $1 million, down from $1.8 million last year. For the first nine months of the fiscal year, net income was $4.3 million, down from $4.4 million year-on-year.
“During the third quarter of fiscal 2017, our new programs continued to ramp, despite a slowdown in demand from a few longstanding customers, which has also impacted our margins,” said Craig Gates, president and chief executive officer. “At the same time, we continued to ramp significant new business from other EMS competitors that we expect will set up revenue growth in fiscal 2018.
“We recently won two new programs involving electronic scheduling devices and pool controllers. Moving into the fourth quarter, we continue to see a strong pipeline of potential new business and our new programs continue to ramp, offsetting softening demand for a few current programs. At the same time, we continue to invest in expanding our SMT, sheet metal and plastic molding capabilities in preparation for future growth.”
Business Outlook
For the fourth quarter of fiscal year 2017, the Company expects to report revenue in the range of $112 million to $117 million, and earnings in the range of $0.10 to $0.15 per diluted share. These expected results assume an effective tax rate of 25% in the quarter.
About Key Tronic
Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico and China. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information, click here.
Suggested Items
Kimball Electronics Publishes Annual Sustainability Disclosures with its 2023 Guiding Principles Report
03/28/2024 | BUSINESS WIREKimball Electronics, Inc. published its annual sustainability disclosures in its 2023 Guiding Principles Report, themed “How We Are Winning Together The Kimball Way.”
American Standard Circuits Global Sourcing Division Opens Warehouse in West Chicago
03/26/2024 | American Standard CircuitsBob Duke, president of American Standard Circuits' Global Sourcing Division, announces the opening of a new 12,000-square-foot warehouse in West Chicago.
Altus Group Achieves Record Sales Milestone with Koh Young Europe
03/26/2024 | Altus GroupAltus Group, a leading supplier of capital equipment for the electronics industry, has announced a significant milestone in partnership with Koh Young Europe (KYE).
Dave Brooks Celebrates 25 Years at IEC USA
03/26/2024 | IECPlease join IEC (International Electronic Components) in congratulating Dave Brooks on 25 years of service and camaraderie. As one of the original members of the IEC USA team, Dave is a valuable contributor to IEC's continued success.
Bürkle North America and Schmoll Maschinen Separating After 20 Years
03/25/2024 | Burkle North AmericaBürkle North America and Schmoll Maschinen, two leading companies supplying state-of-the-art equipment to Printed Circuit Board manufacturers, have announced an amicable separation, effective April 3.