Brief: Key Tronic Corp Awarded $6.7 Million In Arbitration Proceeding

Key Tronic

05/09/2018 22:27

Sept 5 (Reuters) - Key Tronic Corp  KTCC.O :
    * KEY TRONIC CORPORATION AWARDED $6.7 MILLION IN ARBITRATION
PROCEEDING
    * KEY TRONIC - AWARDED $6.7 MILLION FOLLOWING CONCLUSION OF
A
PREVIOUSLY DISCLOSED ARBITRATION PROCEEDING, WHICH CO COMMENCED
IN Q2 OF FISCAL YEAR 2017
    * KEY TRONIC - ARBITRATION PROCEEDING WILL RESULT IN AN
APPROXIMATELY $3.4 MILLION ONE-TIME ADVERSE IMPACT TO CO'S
FISCAL YEAR 2018 NET INCOME
    * KEY TRONIC - COLLECTION OF ARBITRATION AWARD IS EXPECTED
TO BE
CASH POSITIVE FOR CO AS INVENTORY HAS BEEN PREVIOUSLY PAID FOR
    * KEY TRONIC - FOR Q4 OF FISCAL YEAR 2018, CO, WITH
INCLUSION OF
IMPACT OF ARBITRATION AWARD, IS EXPECTED TO REPORT A NET LOSS OF
ABOUT $2.1 MILLION
    * KEY TRONIC - WITH INCLUSION OF IMPACT OF ARBITRATION
AWARD, CO
EXPECTED TO REPORT A NET LOSS OF $1.3 MILLION FOR FULL FISCAL
YEAR 2018

Source text for Eikon:  urn:newsml:reuters.com:*:nGNX8kh3v8
Further company coverage:  KTCC.O 

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