Key Tronic discloses cyber incident cost $2.3M, lost $15M Q4 revenue

KEY TRONIC CORP

Unauthorized third-party access detected May 6, 2024; domestic/Mexico operations halted ~2 weeks.
Incident caused ~$2.3M extra expenses; $15M Q4 FY2024 revenue unfilled (most expected in FY2025).
Data exfiltrated includes some PII; notifications to affected parties are ongoing.
Operations restored mid-June; company believes unauthorized access eliminated.
Orders unable to fulfill are expected to be largely recovered in FY2025.

Key facts

Extracted from this filing and checked against the source text.

Cybersecurity Incidents SEC 8-K Item 1.05 confidence 0.9

KEY TRONIC CORP disclosed a cybersecurity incident: Detected unauthorized third party access to portions of its information technology systems. Impact: Disruptions and limitation of access to business applications, halted domestic and Mexico operations for approximately two weeks, incurred $2.3 million additional expenses, unable to fulfill approximately $15 million of revenue during Q4. Company determined it material. Discovered 2024-05-06.

Nature: Detected unauthorized third party access to portions of its information technology systems
Impact: Disruptions and limitation of access to business applications, halted domestic and Mexico operations for approximately two weeks, incurred $2.3 million additional expenses, unable to fulfill approximately $15 million of revenue during Q4
Materiality: determined material
Discovery: 2024-05-06

Exact text from the filing

As previously disclosed in the Original Report, on May 6, 2024, the Company detected unauthorized third party access to portions of its information technology (“IT”) systems (the “cybersecurity incident”).

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KEY TRONIC CORP filing history →

Source: SEC EDGAR

accession 0000719733-24-000047

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