$KTCC
KEY TRONIC CORP

2018 Q4 Form 10-Q Financial Statement

#000071973319000008 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $123.0M $111.7M
YoY Change 10.12% -5.73%
Cost Of Revenue $113.2M $102.9M
YoY Change 9.94% -5.49%
Gross Profit $9.880M $8.800M
YoY Change 12.27% -8.45%
Gross Profit Margin 8.03% 7.88%
Selling, General & Admin $5.399M $5.654M
YoY Change -4.51% 3.52%
% of Gross Profit 54.65% 64.25%
Research & Development $1.857M $1.495M
YoY Change 24.21% -6.74%
% of Gross Profit 18.8% 16.99%
Depreciation & Amortization $1.860M $1.930M
YoY Change -3.63% 19.21%
% of Gross Profit 18.83% 21.93%
Operating Expenses $7.256M $7.149M
YoY Change 1.5% 1.19%
Operating Profit $2.624M $1.651M
YoY Change 58.93% -35.18%
Interest Expense $708.0K $616.0K
YoY Change 14.94% 11.59%
% of Operating Profit 26.98% 37.31%
Other Income/Expense, Net
YoY Change
Pretax Income $1.916M $1.035M
YoY Change 85.12% -48.12%
Income Tax $327.0K $1.259M
% Of Pretax Income 17.07% 121.64%
Net Earnings $1.589M -$224.0K
YoY Change -809.38% -114.66%
Net Earnings / Revenue 1.29% -0.2%
Basic Earnings Per Share $0.15 -$0.02
Diluted Earnings Per Share $0.15 -$0.02
COMMON SHARES
Basic Shares Outstanding 10.76M shares 10.76M shares
Diluted Shares Outstanding 10.88M shares 10.76M shares

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $500.0K
YoY Change -60.0% 66.67%
Cash & Equivalents $165.0K $450.0K
Short-Term Investments
Other Short-Term Assets $18.26M $13.80M
YoY Change 32.31% 26.74%
Inventory $91.62M $108.9M
Prepaid Expenses
Receivables $91.40M $57.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $201.4M $180.6M
YoY Change 11.56% 2.17%
LONG-TERM ASSETS
Property, Plant & Equipment $27.90M $28.47M
YoY Change -2.0% -4.89%
Goodwill $9.957M $9.957M
YoY Change 0.0% 0.0%
Intangibles $3.300M $4.258M
YoY Change -22.5% -20.62%
Long-Term Investments
YoY Change
Other Assets $2.976M $2.097M
YoY Change 41.92% 42.56%
Total Long-Term Assets $23.49M $52.25M
YoY Change -55.04% -9.57%
TOTAL ASSETS
Total Short-Term Assets $201.4M $180.6M
Total Long-Term Assets $23.49M $52.25M
Total Assets $252.8M $232.8M
YoY Change 8.6% -0.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.09M $61.54M
YoY Change 18.78% 20.24%
Accrued Expenses $7.800M $6.500M
YoY Change 20.0% -12.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.841M $5.841M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $93.74M $83.67M
YoY Change 12.03% 5.9%
LONG-TERM LIABILITIES
Long-Term Debt $34.40M $15.85M
YoY Change 117.01% -26.93%
Other Long-Term Liabilities $476.0K $844.0K
YoY Change -43.6% -89.45%
Total Long-Term Liabilities $34.87M $32.33M
YoY Change 7.84% -33.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.74M $83.67M
Total Long-Term Liabilities $34.87M $32.33M
Total Liabilities $128.6M $116.0M
YoY Change 10.87% -9.11%
SHAREHOLDERS EQUITY
Retained Earnings $76.52M $73.75M
YoY Change 3.75% 3.52%
Common Stock $46.52M $46.05M
YoY Change 1.02% 1.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $113.2M $116.8M
YoY Change
Total Liabilities & Shareholders Equity $252.8M $232.8M
YoY Change 8.6% -0.72%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $1.589M -$224.0K
YoY Change -809.38% -114.66%
Depreciation, Depletion And Amortization $1.860M $1.930M
YoY Change -3.63% 19.21%
Cash From Operating Activities -$5.420M $570.0K
YoY Change -1050.88% -140.23%
INVESTING ACTIVITIES
Capital Expenditures -$1.920M -$870.0K
YoY Change 120.69% -129.43%
Acquisitions
YoY Change
Other Investing Activities $1.430M $3.610M
YoY Change -60.39% 3911.11%
Cash From Investing Activities -$490.0K $2.740M
YoY Change -117.88% -195.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.730M -3.840M
YoY Change -223.18% -208.57%
NET CHANGE
Cash From Operating Activities -5.420M 570.0K
Cash From Investing Activities -490.0K 2.740M
Cash From Financing Activities 4.730M -3.840M
Net Change In Cash -1.180M -530.0K
YoY Change 122.64% -28.67%
FREE CASH FLOW
Cash From Operating Activities -$5.420M $570.0K
Capital Expenditures -$1.920M -$870.0K
Free Cash Flow -$3.500M $1.440M
YoY Change -343.06% -132.93%

Facts In Submission

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dei Trading Symbol
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dei Amendment Flag
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InventoryWriteDown
26000 USD
us-gaap Inventory Write Down
InventoryWriteDown
58000 USD
CY2018Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 USD
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 USD
CY2018Q2 us-gaap Liabilities
Liabilities
128447000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
128603000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
246528000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
252829000 USD
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
98913000 USD
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
93738000 USD
CY2018Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
29534000 USD
CY2018Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
34865000 USD
CY2018Q2 us-gaap Line Of Credit
LineOfCredit
16200000 USD
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
24400000 USD
CY2018Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
28400000 USD
CY2018Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
20200000 USD
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
16300000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
40230000 USD
CY2014Q3 us-gaap Long Term Debt
LongTermDebt
35000000 USD
CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
5841000 USD
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5841000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
24378000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1250000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5871000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5871000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2935000 USD
CY2018Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
16222000 USD
CY2018Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
24378000 USD
CY2018Q2 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
12932000 USD
CY2018Q4 us-gaap Long Term Notes And Loans
LongTermNotesAndLoans
10011000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5650000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5212000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2433000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-267000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3294000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5096000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-224000 USD
us-gaap Net Income Loss
NetIncomeLoss
208000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
1589000 USD
us-gaap Net Income Loss
NetIncomeLoss
3182000 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
7149000 USD
us-gaap Operating Expenses
OperatingExpenses
13830000 USD
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
7256000 USD
us-gaap Operating Expenses
OperatingExpenses
14244000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1651000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2815000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2624000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
5169000 USD
CY2018Q2 us-gaap Other Assets Current
OtherAssetsCurrent
13600000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
18264000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2895000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2976000 USD
CY2017Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1225000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-213000 USD
CY2018Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-889000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
2160000 USD
CY2017Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-600000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-100000 USD
CY2018Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-200000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
600000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8769000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7048000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
380000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
476000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
12000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2155000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3586000 USD
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
0 USD
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
6684000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
91707000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
94468000 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
3606000 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
3600000 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
3300000 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
3302000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
982000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000 USD
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
20000 USD
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
21000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
16000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27548000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27903000 USD
CY2018Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
70262000 USD
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
72248000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
94409000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
86312000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2936000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2936000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1495000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3005000 USD
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1857000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3557000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
72806000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
76517000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
73335000 USD
CY2017Q4 us-gaap Revenues
Revenues
111725000 USD
us-gaap Revenues
Revenues
220942000 USD
CY2018Q4 us-gaap Revenues
Revenues
123037000 USD
us-gaap Revenues
Revenues
250509000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5654000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10825000 USD
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5399000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10687000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
251000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
274000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
118081000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
124226000 USD
CY2018Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
8400000 USD
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
75000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4100000 USD
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10760000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10760000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10881000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10986000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10760000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10760000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10760000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10760000 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;29, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;30, 2017</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;">2019</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 29,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2019</font><font style="font-family:inherit;font-size:10pt;">, which is a 52 week year. Fiscal year 2018 which ended on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;">, was also a 52 week year.</font></div></div>

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