Global Citizenship: What I’ve Learned About the American PCB Business
Global Sourcing Spotlight: The Best Products to Buy Offshore Through Global Sourcing
Nolan's Notes: The Rise (and Risk) of Data
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.
Share on:
Suggested Items
Designing for Cost to Manufacture
11/21/2024 | Marcy LaRont, I-Connect007ICAPE's Richard Koensgen, a seasoned field application engineer with a rich background in PCB technology, shares his journey of working with customers and manufacturers through the intricacies of circuit board development and emphasizes the importance of early-stage collaboration with PCB designers. With a focus on tackling the most challenging aspects of PCB design and manufacturing, he discusses everything from layout considerations to the thermal challenges of today's technology when it comes to designing for cost.
Sat Nusapersada Chooses Siemens' Process Preparation Software to Boost NPI and SMT Line Efficiency
11/21/2024 | Siemens Digital Industries SoftwareSiemens Digital Industries Software announced that Sat Nusapersada, one of the largest Electronics Manufacturing Services (EMS) providers in Indonesia, has adopted its Process Preparation software to reduce its timescale for New Product Introduction (NPI) of printed circuit board assemblies and improve the efficiency of its Surface Mount Technology production lines by 23 percent.
ViTrox Americas Expands Reach in Southern U.S. with MaRCTex
11/21/2024 | ViTroxViTrox Americas Inc. is pleased to announce the appointment of MaRCTex Inc. as its new representative for the states of Texas, Louisiana, Oklahoma and Arkansas. Led by industry veteran Mike Gunderson, MaRCTex has a proven track record of supplying essential tools and solutions for the electronics manufacturing and high-tech industry across the United States. Additionally, demos are available at the ViTrox Americas Demo Center in Hutto, Texas.
Offshore Sourcing in the Global Supply Chain
11/20/2024 | Brittany Martin, I-Connect007Bob Duke, president of the Global Sourcing Division at American Standard Circuits, discusses the challenges and benefits of navigating the global supply chain, including the value of strong supplier relationships, rigorous quality control, and strategic sourcing from regions including China, Vietnam, and India.
Cadence Unveils Arm-Based System Chiplet
11/20/2024 | Cadence Design SystemsCadence has announced a groundbreaking achievement with the development and successful tapeout of its first Arm-based system chiplet. This innovation marks a pivotal advancement in chiplet technology, showcasing Cadence's commitment to driving industry-leading solutions through its chiplet architecture and framework.