Brief: Key Tronic Corporation Announces Preliminary Results For Q3 2020

Key Tronic

09/04/2020 20:46

April 9 (Reuters) - Key Tronic Corp  KTCC.O :
    * ORATION ANNOUNCES PRELIMINARY RESULTS FOR THE THIRD
QUARTER OF
FISCAL 2020
    * SEES Q3 2020 EARNINGS PER SHARE ABOUT $0.07 TO $0.09
    * SEES Q3 2020 REVENUE ABOUT $111 MILLION
    * SEES Q4 2020 REVENUE $120 MILLION TO $130 MILLION
    * KEY TRONIC - LOWER THAN ANTICIPATED REVENUE, EARNINGS FOR
Q3
2020 ARE A RESULT OF DISRUPTIONS TO SUPPLY CHAINS IN CHINA
CAUSED BY COVID-19 CRISIS
    * KEY TRONIC - EARNINGS IN Q3 2020 WERE IMPACTED BY WRITE
DOWN OF
$0.6 MILLION OF RECEIVABLES FROM ALREADY STRUGGLING CUSTOMER
IMPACTED BY COVID-19 PANDEMIC
    * KEY TRONIC - CO'S FACILITIES IN MEXICO, US & VIETNAM
CONTINUE TO
OPERATE WITHOUT SIGNIFICANT VIRUS CAUSED DISRUPTIONS, EXCEPT
DELAYS CAUSED BY SHORTAGE OF CRITICAL COMPONENTS FROM CHINA
    * MOVING INTO Q4 2020, CO'S CHINA FACILITIES APPEAR TO BE
RETURNING TO FULL OPERATION & SUPPLY CHAIN DISRUPTIONS HAVE BEEN
ABATING
    * KEY TRONIC - Q4 2020 ESTIMATES ASSUME CHINA CONTINUES TO
RECOVER
FROM COVID-19 CRISIS, INCLUDING PRODUCTION, SUPPLY OF KEY
COMPONENTS FOR CO'S BUSINESS
    * KEY TRONIC - Q4 2020 ESTIMATES ASSUME CO'S PRODUCTION
FACILITIES
IN MEXICO, US, VIETNAM CONTINUE TO OPERATE WITHOUT SIGNIFICANT
DISRUPTIONS

Source text for Eikon:  urn:newsml:reuters.com:*:nGNX4WDMVF
Further company coverage:  KTCC.O 

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