secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2024-02-06T23:59:59+00:00
Accession:  0000719733-24-000007
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic Q2 revenue up 18% to $145.4M; restructures Mexico ops, guides Q3 rev $135-145M
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- Revenue $145.4M (+18% YoY); net income $1.1M ($0.10 EPS) vs $1.0M ($0.09 EPS) YoY.
- Gross margin improved to 8.1% from 7.2% YoY; operating margin 2.7% vs 2.9%.
- Revenue growth driven by US/Vietnam production and $8.1M sale of discontinued program inventory.
- Restructuring in Mexico: workforce reduction, $1.0-$2.5M severance in Q3; payback <6 months.
- Q3 FY2024 guidance: revenue $135M-$145M; net income $0.00-$0.15 per diluted share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000007/0000719733-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000007/ktcc-20240206.htm
  HTML page:      https://secwatch.observer/filing/0000719733-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer