other material
confidence high
sentiment negative
materiality 0.80
Key Tronic restates Q4 FY2024: net income of $37K becomes net loss of $1.99M
KEY TRONIC CORP
- Net sales revised up to $126.6M but cost of sales increased $3.0M, reducing gross profit by $2.2M.
- GAAP net loss is $1.986M ($0.18 EPS loss) vs. previously reported $37K net income; significant swing.
- Operating income corrected to $116K from $2.7M due to insurance proceeds and expense adjustments.
- Restatement covers FY2023, FY2022, and multiple quarters; Q4 FY2024 corrections in this 8-K/A.
- Non-GAAP adjusted net loss of $600K excludes $2.34M cybersecurity expenses and other items.