Delayed Orders Slow Key Tronic Sales

Wed., Jan. 15, 1997

From Staff And Wire Reports

Postponement of customer orders cut down Key Tronic Corp. sales during the second quarter of fiscal 1997, but the company managed a narrow profit for the period.

Key Tronic had second-quarter earnings of $56,000, or 1 cent per share, on sales of $47 million. That compares with earnings of $696,000, or 7 cents per share, on sales of $56.6 million in fiscal 1996.

The company suffered losses during the third and fourth quarter of 1996, ending the year with a $1.84 million loss, before returning to profitability during the first quarter of fiscal 1997 with a $200,000 gain.

“Second-quarter earnings were less than expected due to the rescheduling of new computer programs by original equipment manufacturer customers,” Fred Wenninger, Key Tronic’s president and chief executive officer, said in a news release Tuesday.

“We expect to resume gradual improvement in the coming quarter as our customer start-up delays are resolved,” he added.

, DataTimes

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Delayed Orders Slow Key Tronic Sales

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