$KTCC
KEY TRONIC CORP

2017 Q1 Form 10-Q Financial Statement

#000071973317000006 Filed on February 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $118.5M $116.4M
YoY Change 1.82% 1.83%
Cost Of Revenue $108.9M $107.3M
YoY Change 1.5% 2.11%
Gross Profit $9.612M $9.110M
YoY Change 5.51% -1.4%
Gross Profit Margin 8.11% 7.83%
Selling, General & Admin $5.462M $5.201M
YoY Change 5.02% -4.13%
% of Gross Profit 56.82% 57.09%
Research & Development $1.603M $1.506M
YoY Change 6.44% 16.11%
% of Gross Profit 16.68% 16.53%
Depreciation & Amortization $1.619M $1.510M
YoY Change 7.22% -1.95%
% of Gross Profit 16.84% 16.58%
Operating Expenses $7.065M $6.707M
YoY Change 5.34% -0.22%
Operating Profit $2.547M $2.403M
YoY Change 5.99% -4.53%
Interest Expense $552.0K $521.0K
YoY Change 5.95% 28.96%
% of Operating Profit 21.67% 21.68%
Other Income/Expense, Net
YoY Change
Pretax Income $1.995M $1.882M
YoY Change 6.0% -10.93%
Income Tax $467.0K $95.00K
% Of Pretax Income 23.41% 5.05%
Net Earnings $1.528M $1.787M
YoY Change -14.49% 9.9%
Net Earnings / Revenue 1.29% 1.54%
Basic Earnings Per Share $0.14 $0.17
Diluted Earnings Per Share $0.14 $0.16
COMMON SHARES
Basic Shares Outstanding 10.76M shares 10.76M shares 10.71M shares
Diluted Shares Outstanding 10.97M shares 11.42M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $1.200M
YoY Change -75.0% 500.0%
Cash & Equivalents $298.0K $1.193M
Short-Term Investments
Other Short-Term Assets $10.89M $14.23M
YoY Change -23.44% 4.79%
Inventory $98.11M $97.91M
Prepaid Expenses
Receivables $64.80M $60.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $176.7M $174.2M
YoY Change 1.47% 9.4%
LONG-TERM ASSETS
Property, Plant & Equipment $29.94M $26.03M
YoY Change 15.0% -13.18%
Goodwill $9.957M $9.957M
YoY Change 0.0% 0.0%
Intangibles $5.364M $6.492M
YoY Change -17.38% -14.8%
Long-Term Investments
YoY Change
Other Assets $1.471M $1.660M
YoY Change -11.39% 33.12%
Total Long-Term Assets $57.78M $53.77M
YoY Change 7.45% 10.17%
TOTAL ASSETS
Total Short-Term Assets $176.7M $174.2M
Total Long-Term Assets $57.78M $53.77M
Total Assets $234.5M $227.9M
YoY Change 2.88% 9.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.18M $56.84M
YoY Change -9.96% 32.35%
Accrued Expenses $7.400M $7.400M
YoY Change 0.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.841M $5.000M
YoY Change 16.82% 0.0%
Total Short-Term Liabilities $79.01M $83.22M
YoY Change -5.06% 30.21%
LONG-TERM LIABILITIES
Long-Term Debt $21.69M $23.75M
YoY Change -8.66% -17.39%
Other Long-Term Liabilities $7.998M $6.423M
YoY Change 24.52% 85.53%
Total Long-Term Liabilities $48.62M $42.83M
YoY Change 13.51% -5.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.01M $83.22M
Total Long-Term Liabilities $48.62M $42.83M
Total Liabilities $127.6M $126.1M
YoY Change 1.25% 15.44%
SHAREHOLDERS EQUITY
Retained Earnings $71.25M $64.00M
YoY Change 11.33% 11.9%
Common Stock $45.47M $44.94M
YoY Change 1.16% 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.9M $101.9M
YoY Change
Total Liabilities & Shareholders Equity $234.5M $227.9M
YoY Change 2.88% 9.58%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $1.528M $1.787M
YoY Change -14.49% 9.9%
Depreciation, Depletion And Amortization $1.619M $1.510M
YoY Change 7.22% -1.95%
Cash From Operating Activities -$1.417M $2.020M
YoY Change -170.15% -72.33%
INVESTING ACTIVITIES
Capital Expenditures $2.956M -$4.030M
YoY Change -173.35% 64.49%
Acquisitions
YoY Change
Other Investing Activities $90.00K $3.740M
YoY Change -97.59% 144.44%
Cash From Investing Activities -$2.863M -$290.0K
YoY Change 887.24% -68.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.250M
YoY Change
Cash From Financing Activities $3.537M -680.0K
YoY Change -620.15% -90.48%
NET CHANGE
Cash From Operating Activities -$1.417M 2.020M
Cash From Investing Activities -$2.863M -290.0K
Cash From Financing Activities $3.537M -680.0K
Net Change In Cash -$743.0K 1.050M
YoY Change -170.76% -238.16%
FREE CASH FLOW
Cash From Operating Activities -$1.417M $2.020M
Capital Expenditures $2.956M -$4.030M
Free Cash Flow -$4.373M $6.050M
YoY Change -172.28% -37.95%

Facts In Submission

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LineOfCreditFacilityRemainingBorrowingCapacity
26500000 USD
CY2016Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
25700000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
46464000 USD
CY2014Q3 us-gaap Long Term Debt
LongTermDebt
35000000 USD
CY2016Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
5000000 USD
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5841000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
871000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
31051000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5871000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5871000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2935000 USD
CY2016Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
21250000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
21693000 USD
CY2016Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
18073000 USD
CY2016Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
18930000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1125000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1967000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1361000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4835000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3307000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3130000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
1787000 USD
us-gaap Net Income Loss
NetIncomeLoss
2604000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
1528000 USD
us-gaap Net Income Loss
NetIncomeLoss
3320000 USD
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
6707000 USD
us-gaap Operating Expenses
OperatingExpenses
13846000 USD
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
7065000 USD
us-gaap Operating Expenses
OperatingExpenses
13984000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2403000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4183000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2547000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
5337000 USD
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
11757000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
10892000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1673000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
355000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1471000 USD
CY2015Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
687000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2293000 USD
CY2016Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1266000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2266000 USD
CY2015Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
400000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-1200000 USD
CY2016Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-700000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-1200000 USD
CY2016Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
10572000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
14292000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6909000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7998000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
56000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
193000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
116000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7544000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4936000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3919000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
101397000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
79260000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6183000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
101000 USD
CY2016Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
30000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
50000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27925000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
29938000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
61678000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
66444000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100368000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
78403000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2500000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2500000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1506000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3062000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1603000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3187000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
67928000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
71248000 USD
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
116403000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
242612000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
118517000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
235652000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5201000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10784000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5462000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10797000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
426000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
105582000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
106875000 USD
CY2016Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
7100000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
135000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3800000 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11418000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11279000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10968000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10919000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10710000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10708000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10758000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10753000 shares
us-gaap Fiscal Period
FiscalPeriod
<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;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;26, 2015</font><font style="font-family:inherit;font-size:10pt;"> were 13 and 26 week periods, respectively. Fiscal year </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2017</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;">July 1,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2017</font><font style="font-family:inherit;font-size:10pt;">, which is a 52 week year. Fiscal year </font><font style="font-family:inherit;font-size:10pt;">2016</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;">July&#160;2, 2016</font><font style="font-family:inherit;font-size:10pt;">, was a 53 week year.</font></div></div>

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