secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K/A
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0000719733-24-000115
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic restates Q4 FY2024: net income of $37K becomes net loss of $1.99M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000115/0000719733-24-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000115/ktcc-20240813.htm
  HTML page:      https://secwatch.observer/filing/0000719733-24-000115

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