SPOKANE VALLEY, WA -- Key Tronic Corp. reported December quarter revenue of $47 million, down 7.5% year-over-year. Net income was $100,000, down 94% from a year ago.

The EMS company took a one-time charge of about $800,000 for goodwill impairment, and recorded a one-time gain of approximately $1 million from the sale of a facility.

In a statement, president and chief executive Jack Oehlke said, “While the global economic situation continues to create slowdowns among some of our existing programs, we saw an increased revenue contribution from new customer programs. In the third quarter, we expect more of our promising new customer programs to move into production. Moving into the second half of fiscal 2009, the pipeline of prospective new programs remains robust despite the challenging economic environment.”

Key Tronic guided for March quarter revenue of $42 million to $46 million.

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