SPOKANE VALLEY, Wash., July 06, 2021 (GLOBE NEWSWIRE)
Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its results for the quarter ended April 3, 2021. Reporting the results for the third quarter of fiscal 2021 was delayed until the Audit Committee of the Company’s Board of Directors completed its previously announced internal investigation.
For the third quarter of fiscal year 2021, Key Tronic reported revenue of approximately $134.6 million, up 21% from $111.5 million in the same period of fiscal year 2020. Customer demand has remained strong and new and existing customers have increased their backlog. In the third quarter, customer demand exceeded $150 million; the highest in the Company’s history. For the first nine months of fiscal year 2021, total revenue was $386.1 million, up 16% from $333.5 million in the same period of fiscal year 2020.
Key Tronic Corporation Announces Results For the Third Quarter of Fiscal Year 2021 and New Program Win
July 06, 2021 20:00 ET | Source: Key Tronic Corporation Key Tronic Corporation
SPOKANE VALLEY, Wash., July 06, 2021 (GLOBE NEWSWIRE)
Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its results for the quarter ended April 3, 2021. Reporting the results for the third quarter of fiscal 2021 was delayed until the Audit Committee of the Company’s Board of Directors completed its previously announced internal investigation.
For the third quarter of fiscal year 2021, Key Tronic reported revenue of approximately $134.6 million, up 21% from $111.5 million in the same period of fiscal year 2020. Customer demand has remained strong and new and existing customers have increased their backlog. In the third quarter, customer demand exceeded $150 million; the highest in the Company’s history.
Key Tronic Corporation Announces Completion of Audit Committee Investigation
SPOKANE VALLEY, Wash., July 06, 2021 (GLOBE NEWSWIRE)
Key Tronic Corporation (Nasdaq: KTCC) (the “Company”), a provider of electronic manufacturing services (EMS), today announced that the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) has completed its internal investigation, which was originally announced in February 2021. The Audit Committee, assisted by independent legal counsel and a forensic accounting firm, conducted an investigation related to a notification from an employee regarding potential irregularities of the classification of inventory at a production facility.
The Audit Committee concluded that inventory and cost of goods sold was improperly recorded at its Oakdale, MN production facility during the fourth quarter of fiscal year 2020 and during the first six months of fiscal year 2021. The investigation identified accounting errors resulting in an
Key Tronic Corporation Announces Results For the Third Quarter of Fiscal Year 2021 and New Program Win
SPOKANE VALLEY, Wash., July 06, 2021 (GLOBE NEWSWIRE)
Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its results for the quarter ended April 3, 2021. Reporting the results for the third quarter of fiscal 2021 was delayed until the Audit Committee of the Company’s Board of Directors completed its previously announced internal investigation.
For the third quarter of fiscal year 2021, Key Tronic reported revenue of approximately $134.6 million, up 21% from $111.5 million in the same period of fiscal year 2020. Customer demand has remained strong and new and existing customers have increased their backlog. In the third quarter, customer demand exceeded $150 million; the highest in the Company’s history. For the first nine months of fiscal year 2021, total revenue was $386.1 million, up 16% from $333.5 million in t
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Key Tronic Corporation Receives Notification of Deficiency from Nasdaq Related to Delayed .
Key Tronic CorporationFebruary 18, 2021 GMT
SPOKANE VALLEY, Wash., Feb. 18, 2021 (GLOBE NEWSWIRE) Key Tronic Corporation (Nasdaq: KTCC) received on February 17, 2021 a standard notice from Nasdaq indicating that, as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarter ended December 26, 2020 (the “Form 10-Q”), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (“SEC”).