$KTCC
KEY TRONIC CORP

2013 Q4 Form 10-Q Financial Statement

#000071973314000008 Filed on February 05, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $78.25M $78.25M
YoY Change 0.0% -7.35%
Cost Of Revenue $71.30M $85.07M
YoY Change -16.19% 9.65%
Gross Profit $6.950M $6.950M
YoY Change 0.0% 38.86%
Gross Profit Margin 8.88% 8.88%
Selling, General & Admin $3.163M $2.939M
YoY Change 7.62% 0.79%
% of Gross Profit 45.51% 42.29%
Research & Development $1.421M $1.225M
YoY Change 16.0% 5.88%
% of Gross Profit 20.45% 17.63%
Depreciation & Amortization $930.0K $660.0K
YoY Change 40.91% 15.18%
% of Gross Profit 13.38% 9.5%
Operating Expenses $4.584M $4.164M
YoY Change 10.09% 2.23%
Operating Profit $2.366M $5.332M
YoY Change -55.63% 90.77%
Interest Expense $16.00K $92.00K
YoY Change -82.61% -25.81%
% of Operating Profit 0.68% 1.73%
Other Income/Expense, Net
YoY Change
Pretax Income $2.350M $2.350M
YoY Change 0.0% 55.42%
Income Tax -$764.0K $1.661M
% Of Pretax Income -32.51% 70.68%
Net Earnings $3.114M $3.114M
YoY Change 0.0% 149.72%
Net Earnings / Revenue 3.98% 3.98%
Basic Earnings Per Share $0.30 $0.30
Diluted Earnings Per Share $0.27 $0.27
COMMON SHARES
Basic Shares Outstanding 10.53M shares 10.53M shares
Diluted Shares Outstanding 11.35M shares 11.35M shares

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.400M $200.0K
YoY Change 600.0% -33.33%
Cash & Equivalents $1.433M $245.0K
Short-Term Investments
Other Short-Term Assets $7.798M $6.422M
YoY Change 21.43% -20.72%
Inventory $47.07M $49.15M
Prepaid Expenses
Receivables $51.40M $54.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $109.3M $114.4M
YoY Change -4.4% 10.5%
LONG-TERM ASSETS
Property, Plant & Equipment $20.18M $18.28M
YoY Change 10.38% 23.54%
Goodwill $1.639M
YoY Change
Intangibles $2.207M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.150M $1.828M
YoY Change 17.61% -66.76%
Total Long-Term Assets $29.45M $22.13M
YoY Change 33.07% 9.54%
TOTAL ASSETS
Total Short-Term Assets $109.3M $114.4M
Total Long-Term Assets $29.45M $22.13M
Total Assets $138.8M $136.5M
YoY Change 1.67% 10.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.78M $31.67M
YoY Change -12.28% -2.86%
Accrued Expenses $5.900M $5.300M
YoY Change 11.32% 43.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $700.0K
YoY Change -71.43% -12.5%
Total Short-Term Liabilities $38.25M $41.73M
YoY Change -8.36% 3.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $4.700M
YoY Change -100.0% -58.41%
Other Long-Term Liabilities $722.0K $1.076M
YoY Change -32.9% -81.76%
Total Long-Term Liabilities $722.0K $7.272M
YoY Change -90.07% -57.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.25M $41.73M
Total Long-Term Liabilities $722.0K $7.272M
Total Liabilities $38.97M $49.01M
YoY Change -20.48% -16.23%
SHAREHOLDERS EQUITY
Retained Earnings $54.30M $44.22M
YoY Change 22.79%
Common Stock $43.89M $42.91M
YoY Change 2.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $99.81M $87.49M
YoY Change
Total Liabilities & Shareholders Equity $138.8M $136.5M
YoY Change 1.67% 10.35%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $3.114M $3.114M
YoY Change 0.0% 149.72%
Depreciation, Depletion And Amortization $930.0K $660.0K
YoY Change 40.91% 15.18%
Cash From Operating Activities $1.060M $6.400M
YoY Change -83.44% -210.59%
INVESTING ACTIVITIES
Capital Expenditures -$1.480M -$1.480M
YoY Change 0.0% -473.74%
Acquisitions
YoY Change
Other Investing Activities $0.00 $140.0K
YoY Change -100.0%
Cash From Investing Activities -$1.480M -$1.330M
YoY Change 11.28% 235.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -110.0K -6.620M
YoY Change -98.34% -224.95%
NET CHANGE
Cash From Operating Activities 1.060M 6.400M
Cash From Investing Activities -1.480M -1.330M
Cash From Financing Activities -110.0K -6.620M
Net Change In Cash -530.0K -1.550M
YoY Change -65.81% 75.14%
FREE CASH FLOW
Cash From Operating Activities $1.060M $6.400M
Capital Expenditures -$1.480M -$1.480M
Free Cash Flow $2.540M $7.880M
YoY Change -67.77% -227.45%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s reporting period is a 52/53 week fiscal year ending on the Saturday closest to June&#160;30. The three and six month periods ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;28, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;29, 2012</font><font style="font-family:inherit;font-size:10pt;"> were 13 week and 26 week periods, respectively. Fiscal year </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> will end on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June 28,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> which is a 52 week year, and fiscal year </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;"> which ended on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;29, 2013</font><font style="font-family:inherit;font-size:10pt;">, was also a 52 week year.</font></div></div>
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CY2013Q2 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
576000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
75000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
6000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6027000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2608000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2215000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
144000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
57797000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
50000 USD
CY2013Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9000 USD
CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
6000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
0 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17911000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20182000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
22000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
51435000 USD
CY2013Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
47009000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
68077000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
359000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
380000 USD
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1225000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2475000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2767000 USD
CY2013Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1421000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
49478000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
54297000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
192075000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
78250000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
156224000 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
94567000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5979000 USD
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2939000 USD
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3163000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5468000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
335000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
425000 USD
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
7500 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
335000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
50000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
94160000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
99810000 USD
CY2013Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
5300000 USD
CY2013Q4 us-gaap Tax Credit Carryforward Deferred Tax Asset
TaxCreditCarryforwardDeferredTaxAsset
2200000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3100000 USD
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10899000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10864000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10925000 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10932000 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10489000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10519000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10530000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10487000 shares
CY2013Q4 ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
5200000 USD
ktcc Additional Foreign Currency Forward Contracts
AdditionalForeignCurrencyForwardContracts
5000000 USD
ktcc Maximum Amount Of Income Tax Benefits Percentage Realized Upon Ultimate Settlement
MaximumAmountOfIncomeTaxBenefitsPercentageRealizedUponUltimateSettlement
0.50
ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
10600000 USD
ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
10200000 USD
CY2012Q4 ktcc Notional Amount Of Foreign Currency Forward Contracts
NotionalAmountOfForeignCurrencyForwardContracts
10600000 USD
CY2013Q4 ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
5700000 USD
ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
11900000 USD
CY2012Q4 ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
5700000 USD
ktcc Settlements Of Foreign Currency Exchange Forward Contracts
SettlementsOfForeignCurrencyExchangeForwardContracts
11200000 USD
CY2013Q2 ktcc Total Other Assets Non Current
TotalOtherAssetsNonCurrent
5452000 USD
CY2013Q4 ktcc Total Other Assets Non Current
TotalOtherAssetsNonCurrent
9263000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-28
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2013-12-28
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000719733
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
10533157 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
KEY TRONIC CORP
dei Trading Symbol
TradingSymbol
ktcc
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
68000000 USD

Files In Submission

Name View Source Status
0000719733-14-000008-index-headers.html Edgar Link pending
0000719733-14-000008-index.html Edgar Link pending
0000719733-14-000008.txt Edgar Link pending
0000719733-14-000008-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
ktcc-12282013x10q.htm Edgar Link pending
ktcc-20131228.xml Edgar Link completed
ktcc-20131228.xsd Edgar Link pending
ktcc-20131228_cal.xml Edgar Link unprocessable
ktcc-20131228_def.xml Edgar Link unprocessable
ktcc-20131228_lab.xml Edgar Link unprocessable
ktcc-20131228_pre.xml Edgar Link unprocessable
q22014exhibit311.htm Edgar Link pending
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