SPOKANE VALLEY, WA -- Key Tronic kept its profitability streak intact, reporting net profits of $1.7 million for its fiscal second quarter ended Jan. 1.

Among publicly traded electronics manufacturing services providers, Key Tronic has the longest known streak of profitable quarters, now at 28 and counting.

For the quarter Key Tronic reported revenue of $61 million, up 36% from the same period of fiscal 2010. Earnings were flat at $1.7 million.

“We’re pleased with our strong year-over-year revenue growth for the second quarter and for the first half of fiscal 2011, driven primarily by the production ramp up of new programs,” said Craig Gates, president and chief executive. “During the quarter, we continued to diversify our revenue base by winning new programs involving industrial motor controls, fire safety devices and power supply equipment for US military applications. We’re also seeing some gradual improvement in the global supply chain for certain electronic components.

“Moving into the second half of fiscal 2011, some of our new customers have delayed their anticipated production ramps from the third quarter to the fourth quarter. Accordingly, we have revised our previous forecasts for revenue and earnings, and now expect to see sequential growth get underway in the fourth quarter of fiscal 2011. Over the longer term, we remain well positioned to profitably grow our business, capture market share and capitalize on emerging EMS opportunities.”

Key Tronic guided for March quarter revenue of $60 million to $62 million, and full year revenue of $250 million to $260 million.

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