Key Tronic reports lower quarterly income

Key Tronic Corp. has reported lower quarterly income, saying revenue was down as a result of hurricane-related shipment delays.

The Spokane Valley company reported Monday net income of $400,000, or 4 cents per share, on sales of $109.2 million during the quarter. The results compared to net income of $1.8 million, or 16 cents per share, on sales of $117.1 million during the same quarter in 2016. The quarter represents the three-month period ending Sept. 30.

Key Tronic provides electronic manufacturing services. Sales were down $4 million during the quarter because of hurricane-related flooding in Houston that delayed shipments, and unrelated shortages of key electronic components. The company also paid out $300,000 in severance costs at its facility in Juarez, Mexico.

President and CEO Craig Gates said the company added new business during the quarter in exercise equipment monitors, heating and air conditioning controllers and a consumer security product.