secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001628280-24-021103
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Key Tronic reports Q3 net loss $2.2M, revenue $140.5M (-15% YoY); Q4 guidance $0.03-$0.10 EPS
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- Net loss $2.2M ($0.21/share) vs net income $2.0M ($0.18/share) in Q3 FY23.
- Revenue $140.5M, down from $164.6M YoY; weather and demand softening cited.
- Severance costs $3.7M from cutting 450+ jobs in Mexico; expects >$10M annual savings.
- Gross margin fell to 5.8% from 8.7%; operating margin negative 0.4% vs positive 3.1%.
- Credit facility amended to cure covenant breach; interest rate +100bps, maturity Sept 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000162828024021103/0001628280-24-021103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000162828024021103/ktcc-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-021103

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