-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC 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.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Key Tronic Expects Revenue Drop in Q4
July 18, 2014 | Globe NewswireEstimated reading time: 1 minute
Key Tronic Corporation, a provider of EMS, has announced its preliminary results for the three months ended June 28, 2014.
The company currently expects to report revenue of approximately $72 million for the fourth quarter of fiscal 2014. The lower than anticipated revenue primarily reflects a temporary reduction in production levels for a longstanding customer, which are expected to return to prior levels in the first quarter of fiscal 2015. In addition, there was a delay in the commencement of production for a significant new program due to the timing of certain agency approvals. Revenue from this new program is expected to start being recognized in the first quarter of fiscal 2015. As a result, earnings for the fourth quarter of fiscal 2014 are expected to be in the range of $ $0.10 to $0.12 per share.
"While the unanticipated revenue shortfall in the fourth quarter was disappointing, we expect to see a return to sequential growth in the first quarter of fiscal 2015 as our new programs continue to ramp up," said Craig Gates, president and CEO. "As we also announced, the planned acquisition of CDR Manufacturing during the first quarter of fiscal 2015, if consummated, will represent a major step forward for Key Tronic, significantly expanding our printed circuit board assembly capabilities and extending our customer base with new multi-national companies."
The company plans to announce its complete fourth quarter and year end results for fiscal 2014, and more specific guidance for the first quarter of fiscal 2015, August 19, 2014.
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, visit www.keytronic.com.