Key Tronic reports flat income for its 4Q

Key Tronic Corp. reported flat net income of $1.3 million during the company’s fourth quarter, which ended June 30.

Key Tronic’s net income was identical to its 2017 fourth-quarter income and amounted to 12 cents per share on revenue of $117 million during the quarter.

For the 2018 fiscal year, the Spokane Valley company reported net income of $2.1 million, or 19 cents per share, compared to 2017 income of $5.6 million, or 51 cents per share.

Craig Gates, Key Tronic’s president and CEO, said 2018 was a challenging year but the company replaced revenue caused by the loss of a large customer, diversified its client base, reduced debt and returned to growth in the fourth quarter.