Craig D. Gates
the retirement of Craig D. Gates, President and Chief Executive Officer, effective June 30, 2024.
Highest-materiality recent filing
Key Tronic Q3 FY2026 revenue $89.6M, down 20% YoY; margins improve
Revenue $89.6M vs $112.0M in Q3 FY2025, down 20% due to lower legacy demand and end-of-life program transition.
Key Tronic reports Q2 FY2026 revenue $96.3M, down 15% YoY; China wind-down and Mexico cuts
Revenue $96.3M vs $113.9M YoY, down ~15%; impacted by reduced demand from a longtime customer and program delays.
Key Tronic to cease China manufacturing; $4.8-5.8M non-cash charges; Mexico severance $2.5-3.5M
Ends China manufacturing operations; refocuses on sourcing/procurement; manufacturing moved to Vietnam and other facilities.
Key Tronic Q1 FY2026 revenue drops 25% YoY to $98.8M; net loss $0.21/share
Revenue $98.8M vs $131.6M YoY; net loss $(2.3)M versus net income $1.1M last year.
Key Tronic Q4 revenue $110.5M (down 13% YoY); full year net loss $8.3M vs $2.8M loss
Q4 revenue $110.5M (down 13% YoY); FY2025 revenue $467.9M (down 17% from $566.9M).
Key Tronic Q3 FY2025 revenue $112M, down 21% YoY; net loss narrows to $0.6M
Revenue $112.0M vs $142.4M a year ago, down 21% due to tariff disruptions and customer delays.
Key Tronic Q2 FY2025 revenue $113.9M (-23% YoY); net loss $4.9M vs income $1.1M
Revenue $113.9M, down 23% from $147.8M in Q2 FY2024; first-half revenue $245.4M vs $298.0M.
Key Tronic preliminary Q2 revenue ~$114M, net loss $0.40-$0.48 per share, below guidance
Revenue ~$114M, net loss $0.40-$0.48 per share, both below prior guidance.
Key Tronic enters $115M revolver and $28M term loan, refinances prior Bank of America facility
$115M asset-based revolver with BMO, matures Dec 3, 2029; $75M outstanding at close.
Key Tronic Q1 FY2025 net income rises to $0.10/share; gross margin improves to 10.1%
Revenue $131.6M vs $150.1M YoY; impacted by ~$9M in customer-driven program delays.
Key Tronic restates Q4 FY2024: net income of $37K becomes net loss of $1.99M
Net sales revised up to $126.6M but cost of sales increased $3.0M, reducing gross profit by $2.2M.
Key Tronic obtains waiver of loan defaults; interest rate up 50bps, availability block raised
Sixth amendment waives defaults for fixed-charge coverage ratio misses in June and July 2024 and late audited financials.
Key Tronic restates FY2022-2023 and quarterly financials; revenue/COGS misclassification found
Audit Committee concludes FY2022, FY2023, and certain quarterly reports for 2022-2024 are no longer reliable due to misallocation of cost recovery.
Key Tronic Q4 revenue $125.7M (down 23% YoY); EPS $0.00 vs $0.10
Revenue $125.7M, down from $162.6M in Q4 FY2023.
Key Tronic discloses cyber incident cost $2.3M, lost $15M Q4 revenue
Unauthorized third-party access detected May 6, 2024; domestic/Mexico operations halted ~2 weeks.
Key Tronic Q4 FY2024 preliminary revenue ~$125M, net loss ~$0.00; cyber incident cost $2.3M
Cybersecurity incident on May 6 caused $2.3M extra expenses and ~$15M lost revenue, most recoverable in FY2025.
Key Tronic reports cyber incident: PII exfiltrated, ops halted 2 weeks, material Q4 impact
Detected unauthorized access on May 6, 2024; threat actor exfiltrated limited data including personally identifiable information.
Key Tronic amends credit agreement; loosens covenant but raises cost, shortens maturity
Fixed charge coverage ratio floor reduced to 1.00:1.00 (from 1.25:1) as of March 30, 2024, stepping back to 1.25:1 by March 29, 2025.
Key Tronic reports Q3 net loss $2.2M, revenue $140.5M (-15% YoY); Q4 guidance $0.03-$0.10 EPS
Net loss $2.2M ($0.21/share) vs net income $2.0M ($0.18/share) in Q3 FY23.
Key Tronic preliminary Q3 loss per share ($0.18-0.23) on $140M revenue; Q4 guidance $0.00-0.10 EPS
Preliminary Q3 revenue ~$140M (in line); net loss per share ($0.18)-($0.23) below expectations.
Key Tronic Q2 revenue up 18% to $145.4M; restructures Mexico ops, guides Q3 rev $135-145M
Revenue $145.4M (+18% YoY); net income $1.1M ($0.10 EPS) vs $1.0M ($0.09 EPS) YoY.
the retirement of Craig D. Gates, President and Chief Executive Officer, effective June 30, 2024.
Max materiality 0.85 · Median 0.70 · Most common event earnings