Local News - Local - October 25, 2012
Key Tronic Corp., the Spokane Valley-based electronic manufacturing services company, reported this afternoon net income of $3.7 million, or 35 cents a diluted share, for its fiscal year 2013 first quarter ended Sept. 29. That's up sharply from earnings of $1.2 million, or 12 cents a share, in the year-earlier period.
Total revenue for the quarter rose 40 percent, to $97.5 million from $69.8 million in the year-earlier period.
Key Tronic President and CEO Craig Gates said in a press release, "At the end of the first quarter of fiscal 2013, we were generating revenue from 168 separate programs and 51 distinct customers, up from 135 programs and 36 customers a year ago."
He said the company continued to diversify its revenue base by adding programs involving solar-energy and power-management products.
In a Leading Spokane Manufacturers list the Journal of Business published in May, Key Tronic reported that it had 189 Spokane-area employees, up from 167 a year earlier.