Key Tronic Corp Reports Net Income of $5.2 Million for Fiscal Year 2023

KEY TRONIC CORP [KTCC], a leading electronics manufacturing services provider, has announced its financial results for the fiscal year ended July 1, 2023. The company reported a net income of $5.2 million and achieved annual revenue of $588.1 million, reflecting solid performance and growth across its operations.

Financial Performance

The company's gross profit for the year reached $47.5 million, showing an increase from the previous year's $43.2 million. Key Tronic Corp efficiently managed its cost of sales, which totaled $540.7 million, compared to $488.6 million in the previous fiscal year. Despite a rise in operating expenses, including research, development, and engineering expenses, and selling, general, and administrative expenses, the company's operating income amounted to $16.3 million, a significant improvement from $8.8 million the previous year.