Brief: Key Tronic Reports Q3 EPS Of $0.08

Key Tronic

28/04/2020 22:15

April 28 (Reuters) - Key Tronic Corp  KTCC.O :
    * KEY TRONIC CORPORATION ANNOUNCES RESULTS FOR THE THIRD
QUARTER
OF FSCAL YEAR 2020
    * Q3 EARNINGS PER SHARE $0.08
    * Q3 REVENUE $111.5 MILLION VERSUS $108 MILLION
    * DUE TO COVID-19 CRISIS, WE HAVE SEEN EXTREME SHIFTS IN
DEMAND
FROM OUR CUSTOMER BASE
    * CUSTOMERS, PARTICULARLY THOSE IN GAMING INDUSTRY, HAVE
SEEN
LARGE DECREASES IN THEIR DEMAND DUE TO COVID-19
    * EFFECT OF PANDEMIC ON OUR CUSTOMER'S DEMAND WAS A NET
POSITIVE
DURING Q3
    * WON NEW PROGRAMS IN QUARTER, ONE OF WHICH WHEN FULLY
RAMPED IS
ANTICIPATED TO CONTRIBUTE $100 MILLION IN ANNUAL REVENUE
    * SUCCESSFULLY RESUMED OPERATIONS AT A JUAREZ FACILITY
    * CHINA FACILITIES APPEAR TO BE RETURNING TO FULL OPERATION
AND
SUPPLY CHAIN DISRUPTIONS HAVE BEEN ABATING
    * FACILITIES IN U.S. AND VIETNAM CONTINUE TO OPERATE
NORMALLY

Source text for Eikon:  ID:nGNX9tCZdL 
Further company coverage:  KTCC.O 

 (Reuters.Briefs@thomsonreuters.com)