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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Contract manufacturer Key Tronic reports improved earnings

From staff reports

Key Tronic Corp. reported improved earnings Tuesday for the quarter that ended Sept. 29, which is the first quarter in the company’s 2019 fiscal year.

Spokane Valley-based Key Tronic had net income of $1.6 million during the quarter, which amounted to 15 cents per share, on revenue of $127.5 million.

The results compared to net income of $400,000, which amounted to 4 cents per share, on revenue of $109.2 million for the first quarter of fiscal 2018.

Key Tronic is a contract manufacturer with facilities in the U.S., Mexico and China.

First-quarter results were positively affected by production of video doorbells under the SkyBell brand that allow homeowners to speaker to people on their doorstep from a mobile device, no matter where they are, officials said.

However, the company’s growth was affected by industrywide supply chain issues for key components, rising utility costs in Mexico and increasing labor costs, said Craig Gates, Key Tronic’s president and CEO.