KEY TRONIC CORP

Listed Company

KTCCCIK 0000719733NasdaqNon-AcceleratedSmaller ReportingPrinted Circuit BoardsWashingtonFY ends Jun 28

Period

FY 2025

Revenue

$467.87M

Net Income

$-8.30M

Total Assets

$315.87M

Equity

$117.13M

Shares Out

10.86M

Op. Cash Flow

$18.93M

Business

Key Tronic Corporation provides contract manufacturing services for electronic and electromechanical products, having transitioned from keyboard manufacturing to diversified outsourced production. It offers integrated services including electronic and mechanical design engineering, precision plastic molding, sheet metal fabrication and finishing, printed circuit board and complete product assembly, tooling, sourcing and procurement, worldwide logistics, and product testing. Key business areas include design and engineering, manufacturing and assembly, supply chain and procurement, and research, development and engineering support. The company operates a multinational production footprint in the United States, Mexico, China and Vietnam and markets primarily to OEMs through direct field sales, distributors and independent sales organizations.

Summary from filing dated 2025-09-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	468	567	605	544	519
Cost of sales	431	527	558	501	477
Gross profit	36	40	47	43	42
Research, development and engineering expenses	9	8	10	10	10
Selling, general and administrative expenses	27	25	26	25	23
Gain on insurance proceeds, net of losses	0	−431,000	−4	0	—
Total operating expenses	36	33	31	34	33
Operating income	600,000	7	16	9	10
Interest expense, net	13	12	10	5	—
Loss before income taxes	−12	−5	6	4	—
Income tax benefit	−4	−2	1	314,000	2
Net loss	−8	−3	5	3	4
Net loss per share Basic (in dollars per share)	−0.77	−0.26	0.48	0.31	0.4
Weighted average shares outstanding Basic (in shares)	11	11	11	11	11
Net loss per share Diluted (in dollars per share)	−0.77	−0.26	0.47	0.31	0.39
Weighted average shares outstanding Diluted (in shares)	11	11	11	11	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2024 2024-03-31	FY 2023 2023-12-31	FY 2023 2023-09-30
Cash and cash equivalents	1	5	5	3	4
Trade receivables, net of credit losses of $3,479 and $2,918	96	133	133	132	138
Contract assets	17	21	29	28	33
Inventories	97	105	115	124	127
Other, net of credit losses of $1,463 and $1,679	22	25	21	21	22
Total current assets	234	288	303	308	323
Property, plant and equipment, net	28	29	29	29	28
Operating lease right-of-use assets, net	11	15	17	18	16
Deferred income tax asset	23	17	16	14	14
Other, net of credit losses of $500 and $0	19	5	6	6	8
Total other assets	43	23	22	20	22
Total assets	316	355	370	375	389
Accounts payable	64	79	82	91	102
Accrued compensation and vacation	8	7	7	6	12
Current portion of long-term debt	6	3	3	3	3
Other	14	15	17	18	17
Total current liabilities	92	104	109	118	133
Long-term debt, net	99	116	122	115	116
Operating lease liabilities	7	10	11	12	11
Deferred income tax liability	0	263,000	19,000	22,000	324,000
Other long-term obligations	954,000	219,000	336,000	627,000	1
Total long-term liabilities	107	127	134	128	128
Total liabilities	199	231	243	246	261
Commitments and contingencies (Note 8)	—	—	—	—	—
Common stock, no par valueshares authorized 25,000; issued and outstanding 10,762 and 10,762 shares, respectively	48	47	48	48	48
Retained earnings	69	77	79	81	80
Accumulated other comprehensive income (loss)	1	−215,000	0	191,000	−39,000
Total shareholders equity	117	124	127	129	128
Total liabilities and shareholders equity	316	355	370	375	389

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	10	11	10	8	7
Amortization of interest rate swap	0	97,000	328,000	301,000	276,000
Amortization of deferred loan costs	2	339,000	154,000	143,000	95,000
Noncash lease expense	5	6	6	4	—
Inventory write-down to net realizable value	98,000	322,000	427,000	950,000	753,000
Provision for warranty	17,000	320,000	313,000	446,000	145,000
Provision for credit losses	2	−84,000	—	—	—
Gain on disposal of assets	−42,000	−32,000	−21,000	−12,000	—
Share-based compensation expense	218,000	−444,000	254,000	293,000	192,000
Deferred income taxes	−7	−5	−2	481,000	—
Noncash accrued compensation benefit	0	−4	—	—	—
Trade receivables	32	16	−15	−26	−24
Contract assets	4	9	−8	3	−1
Inventories	8	32	17	−19	−23
Other assets	−10	−587,000	−2	−6	2
Accounts payable	−16	−37	−5	29	13
Accrued compensation and vacation	2	−3	2	365,000	1
Other liabilities	−4	−8	−16	−4	6
Cash provided by operating activities	19	14	−11	−5	−15
Purchases of property and equipment	−4	−4	−10	−7	−11
Proceeds from sale of fixed assets	40,000	0	2	14,000	0
Prepayments on finance lease obligations	−144,000	0	−188,000	−1	—
Proceeds from insurance	0	2	4	0	—
Cash used in investing activities	−4	−2	−5	−8	−11
Payment of financing costs	−3	−807,000	−245,000	−118,000	−617,000
Proceeds from issuance of long term debt	33	1	—	—	—
Repayments of long-term debt	−5	−3	−2	−2	—
Borrowings under revolving credit agreement	383	521	596	582	—
Repayments of revolving credit agreement	−424	−524	−576	−578	—
Principal payments on finance leases	−2	−5	−4	−2	0
Cash used in financing activities	−18	−11	18	11	29
Net increase (decrease) in cash and cash equivalents	−3	1	2	−2	3
Interest payments	11	10	9	5	4
Income tax payments, net of refunds	989,000	2	1	1	2
ASC 326 opening balance sheet adjustment	0	3	0	0	—
Recognition of operating lease liabilities and right-of-use assets	784,000	5	5	5	3
Recognition of financing lease liabilities and right-of-use assets	1	0	2	13	0

Filings

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