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Key Tronic’s Q4 Revenue Up 17% YoY |
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Written by Chelsey Drysdale
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Wednesday, 20 August 2008 |
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SPOKANE VALLEY, WA – EMS provider Key Tronic Corp. announced fourth-quarter fiscal 2008 revenue was $57.3 million, up 17% year-over-year.
Fourth-quarter net income was $2.6 million, down 3.7% compared to the same period last year.
For full-year 2008, revenue was $204.1 million, up a slight 1.2% compared to 2007. Net income was $5.6 million, up 7% year-over-year.
"For the fourth quarter and for the year, we achieved the highest revenue since implementing our EMS strategy. During the year, we had eight new customers contributing about 13% of our total revenue. In fiscal 2009, we expect 10 additional new customers to come on line. Together, we expect these 18 new customers to contribute approximately 40% of our revenue in fiscal 2009, offsetting the anticipated decline in demand from some of our existing customers,” said president and CEO Jack Oehlke.
For the first quarter of 2009, the company expects revenue in the range of $45 million to $48 million.
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