Key Tronic Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 29, 2018
January 29, 2019 at 04:01 pm
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Key Tronic Corporation announced unaudited consolidated earnings results for the second quarter and six months ended December 29, 2018. For the second quarter of fiscal year 2019, the company reported total revenue of $123.0 million, up 10% from $111.7 million in the same period of fiscal year 2018. For the second quarter of fiscal year 2019, the company had net income of $1.6 million or $0.15 per basic and diluted share, compared to net loss of $0.2 million or $0.02 per basic and diluted share for the same period of fiscal year 2018. Operating income was $2,624,000 compared to $1,651,000 a year ago.
For the first six months of fiscal year 2019, total revenue was $250.5 million, up 13% from $220.9 million in the same period of fiscal year 2018. For the first six months of fiscal year 2019, net income was $3.2 million or $0.29 per diluted share, up from $0.2 million or $0.02 per diluted share for the same period of fiscal year 2018. Operating income was $,000 compared to $1,651,000 a year ago. Basic earnings per share was $0.30 compared to $0.02 a year ago.
Key Tronic Corporation is a contract manufacturer offering value-added design and manufacturing services. The Company provides full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, distribution and unparalleled customer service. It provides a mix of manufacturing services for outsourced original equipment manufacturing (OEM) products. Its services include product design, surface mount technologies (SMT) and pin through hole capability for printed circuit board assembly, tool making, precision plastic molding, sheet metal fabrication and painting, liquid injection molding, complex assembly, prototype design and full product assembly. Its customers include some of the original equipment manufacturers, and its combined capabilities and vertical integration are proving to be a desirable offering to its expanded customer base. Its manufacturing facilities are located in the United States, Mexico, China and Vietnam.