secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000719733-23-000039
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic Q1 preliminary revenue $147.7M; EPS $0.02 misses on severance costs
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- Revenue ~$147.7M in line; EPS $0.02 below expectations, including $0.6M severance (≈$0.04-0.05/share).
- Workforce cut by 100+ employees in Mexico and US; expected annual savings >$5M.
- Power equipment program delayed: production now expected in FY2025 instead of FY2024.
- Q2 FY2024 guidance: revenue $135-145M; EPS $0.05-0.10 per diluted share.
- Adversely impacted by strong Mexican Peso and high interest expense, though gross margins improving.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973323000039/0000719733-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973323000039/ktcc-20231024.htm
  HTML page:      https://secwatch.observer/filing/0000719733-23-000039

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